http://asfmra.wordpress.com Education for Your Future Sat, 10 May 2008 01:30:44 +0000 http://wordpress.org/?v=MU http://asfmra.wordpress.com/2007/09/18/land-values/#comment-3 monettadick Fri, 23 Nov 2007 14:16:35 +0000 http://asfmra.wordpress.com/2007/09/18/land-values/#comment-3 The same sort of thing seems to be happening in South Carolina. It is factual that land sales have fallen from their unprecedented frequencies in 2004-2006. Some of the purchasers during this period who paid what seemed to be very high prices (and were generally from out of the areas) have placed properties back on the market. It will be interesting to see when and if they sell and for how much. I know of no resales yet below original price, but it is usually the mortgage banker who has to do the reselling when equities are gone. At the same time there are brokers who tell me that their biggest problem is finding land to list. I think the question at this point is whether this is a temporary glitch. The same sort of thing seems to be happening in South Carolina. It is factual that land sales have fallen from their unprecedented frequencies in 2004-2006. Some of the purchasers during this period who paid what seemed to be very high prices (and were generally from out of the areas) have placed properties back on the market. It will be interesting to see when and if they sell and for how much. I know of no resales yet below original price, but it is usually the mortgage banker who has to do the reselling when equities are gone. At the same time there are brokers who tell me that their biggest problem is finding land to list. I think the question at this point is whether this is a temporary glitch.

]]> http://asfmra.wordpress.com/2007/09/18/land-values/#comment-2 Jerry Dell Wed, 31 Oct 2007 23:18:31 +0000 http://asfmra.wordpress.com/2007/09/18/land-values/#comment-2 I worder if anyone else is noticing a softness in the land market. In Southeast Alabama, there are much fewer sales in 2007 than what occurred in 2006 and 2005. Also I have noticed one 86 acre which recently sold for $2,733 per acre (normal realtor marketing) and a adjacent 68 acre property sold with 1031 tax benefit sold for $4,779 per acre June 2006. The purhcasers of the 68 land tract were active land traders in area and thought they would re-sale for higher prices. I would like to see several sales -resales in this market but actilvity is very slow. I worder if anyone else is noticing a softness in the land market. In Southeast Alabama, there are much fewer sales in 2007 than what occurred in 2006 and 2005. Also I have noticed one 86 acre which recently sold for $2,733 per acre (normal realtor marketing) and a adjacent 68 acre property sold with 1031 tax benefit sold for $4,779 per acre June 2006. The purhcasers of the 68 land tract were active land traders in area and thought they would re-sale for higher prices. I would like to see several sales -resales in this market but actilvity is very slow.

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