Now is the Time: For Investing in Land
The rampant land rush in the west has screeched to a halt, the stock market dropped 8,000 points and subprime lending hit the skids. So why invest in land now? Cash is king again, and creditworthy buyers can secure long-term funding at sub-five percent interest rates.
Now is the time to take advantage of this market. In 2009 we saw our company sales plod along in the half million to million dollar range. However, more recently we have seen a property closing at $12 million and we are aware of a confirmed pending contract at $14 million. We also currently have cash buyers in the $2-$15 million range. Everyday we are fielding bona fide inquiries and this is in sharp contrast to what little activity we saw in the previous 12 months.
Motivated seller's now have to compete in a market with a surplus inventory of quality land, an inventory that is continually growing. We are seeing land that is priced at 2001-2003 prices, a dramatic change from what we saw in 2008. Sellers are also concerned the current administration is going to hike capital gains tax back to 30% eroding seller's realizable gains by another 15%, and ultimately effecting seller's pricing and expectations. So now is the time to take advantage of the current market prices and realistic seller's expectations.
Every property has a price, and all marketed offerings are for sale, it simply takes action and ability on behalf of the buyer. Create a checklist before beginning your investment search. Know your budget and comfort zone, and become prequalified for this type and size of loan. Determine the area or region, desired land type and acreage.
Contact Pfister Land Company; we are active in 10 western states. (307) 684-5201
Or visit our website at www.pfisterlandco.com to view our new listings and recent price reductions.
Now is the time to take advantage of this market. In 2009 we saw our company sales plod along in the half million to million dollar range. However, more recently we have seen a property closing at $12 million and we are aware of a confirmed pending contract at $14 million. We also currently have cash buyers in the $2-$15 million range. Everyday we are fielding bona fide inquiries and this is in sharp contrast to what little activity we saw in the previous 12 months.
Motivated seller's now have to compete in a market with a surplus inventory of quality land, an inventory that is continually growing. We are seeing land that is priced at 2001-2003 prices, a dramatic change from what we saw in 2008. Sellers are also concerned the current administration is going to hike capital gains tax back to 30% eroding seller's realizable gains by another 15%, and ultimately effecting seller's pricing and expectations. So now is the time to take advantage of the current market prices and realistic seller's expectations.
Every property has a price, and all marketed offerings are for sale, it simply takes action and ability on behalf of the buyer. Create a checklist before beginning your investment search. Know your budget and comfort zone, and become prequalified for this type and size of loan. Determine the area or region, desired land type and acreage.
Contact Pfister Land Company; we are active in 10 western states. (307) 684-5201
Or visit our website at www.pfisterlandco.com to view our new listings and recent price reductions.
Labels: invest in land, land for sale in Wyoming, why buy land not, why invest in Wyoming
posted by Rob Pfister at
Tuesday, November 24, 2009
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