04-21-2008, 02:24 PM
You nailed the situation perfectly! The only thing I would add is that prices tend to be higher the closer you get to either the ocean or the highway, but I suspect everyone knows that already.
It is a great opportunity. These prices are going to look dirt cheap in a few years. I'm guessing that they have more to fall, but you never know where the bottom is until after prices begin to rise again.
It is a great opportunity. These prices are going to look dirt cheap in a few years. I'm guessing that they have more to fall, but you never know where the bottom is until after prices begin to rise again.
quote:
Originally posted by mac nut
I too have been following prices on HPP lots for 5 years and I have come to the following conclusions and these are just my own opinions.
Some lots are selling at low prices not seen for several years
Some lots are selling at prices that are fairly high
Notice that the lower price lots stay on the market fewer days
I think it depends on how much the owner NEEDS to sell
I think a lot of vacant land was bought for spec houses and now the house market has softened so the large profit is no longer there for spec builders.
I too would like to buy the lot next to me and it is owned by NRLL a land auction company that is impossible to communicate with.
Anyone else tried to contact this company?
Mac nut