Below is an article by Kathy McGraw REALTOR in Southern California in the Pass Area / White Water.
You can find the original article here : http://californiarealestateandlife.com
“Over the past couple years-specifically from the middle of 2007 to now, land in my area hasn’t sold very well. Land values have gone down, but many of the Sellers don’t want to admit this is true. Buyers/Investors weren’t buying land like they were before, and this left many sellers frustrated. Why wasn’t their land selling? And you know who these sellers are…they are the ones who go Agent to Agent thinking it is the Agents fault. Normally it isn’t!”
There are a host of reasons why land doesn’t sell, and in today’s Market it isn’t that the Agent isn’t doing enough, it is more that buyers aren’t buying on speculation like they were, and getting a land loan is much harder than it used to be.”
I agree! I was once called the “Queen of Dirt” not a name I chose but others called me that. I was happy to list land in Pueblo West, Pueblo County when other agents would not. But today it’s a different story, I’m still happy to list it, but it’s hard work to sell it. It’s all about supply and demand. The supply of completed houses is way up and the demand for new construction is way down. Don’t believe me? Ask a local builder, you’ll find him / her doing remodels and home repair because they aren’t being called to build any more.
Selling land in Southern Colorado is tough! Factor in the extra expense of drilling a well, the cost city and county permits going up because everyone is struggling and the overwhelming supply! Check your county records more and more ‘dirt’ or unimproved land is being handed back to local communities, check the Colorado City area to be specific. Nobody wants to pay the property tax on them any more.
Agents are busting their backs to get land sold! Walt Whitman said “buy land they aren’t making anymore” and he’s right of course.
How about you? Are you buying land?
More information on Land Loans : http://www.realestatecoloradostyle.com/financing-vacant-or-unimproved-land
Please contact Dena Stevens to buy or sell your Fremont County, Canon City, Penrose or Florence Property.
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