Real Estate has some rather simple rules. One is to buy low and sell high.
Today all market segments are in turmoil including residential,commercial, retail, industrial real estate. It is a buyers market.
However, if you are tired of watching you stock values go lower and lower in value, if you are concerned with your retirement plan,or if you really would like to create a little nest egg for your next generation, invest in land.
Land banking isn't for everyone but it is a viable alternative to the stock market, savings bank or "tucking it under the mattress". The key is just to invest a small percentage of your entire portfolio in undeveloped land.
Land inventory in Massachusetts is today at an almost all time high while demand is extremely low. However the land real estate market is far from dormant.
Asking prices for land now range from $20,000 per parcel to $20 million but the actual sale numbers tell a much different story. In the past month ninety-one individual parcels of land sold ranging in price from $3,000 to a high of $1,499.00.
(For $3,000 the buyer obtained a one family building lot, with street frontage and water and sewer.)
Some recent examples of land sales in the state: 16 acres sold for $475K, ten acres went for $72,000 and yet another 16 acres fetched $40,000.
Due diligence and up-front professional research is required before buying any land anywhere!
Some factors to be considered are: Zoning, street frontage, legal access, topography, the availability of water, sewer, electricity, plus wet lands, rivers, brooks, restrictions of record, easements, potential contamination issues and of course real estate taxes.
More to follow.....
No comments:
Post a Comment