Hi Chad,
I was interested to see that your land stats seem to echo those in my market. Land inventory is very high. Several years ago we had little bare land to choose from. Supply was low while demand was growing. This naturally drove prices higher. Developers saw an opportunity and started picking up large parcels and creating new neighborhoods. Now demand has softened, land loans are more difficult and some new neighborhood have not completed the approval process. That means even more building lots are on the way.
Yikes!
Kathy,
That is exactly what has heppened here as well, you hit the nail on the head! Now we just have to wait out the correction in the Market.
Chad
Brad,
I just picked up a new MacDaddy Mac! I did those in no time on Keynote. Thank you for the compliment as well!
;){kind=link}
Hi Chad,
I was interested to see that your land stats seem to echo those in my market. Land inventory is very high. Several years ago we had little bare land to choose from. Supply was low while demand was growing. This naturally drove prices higher. Developers saw an opportunity and started picking up large parcels and creating new neighborhoods. Now demand has softened, land loans are more difficult and some new neighborhood have not completed the approval process. That means even more building lots are on the way.
Yikes!
Kathy,
That is exactly what has heppened here as well, you hit the nail on the head! Now we just have to wait out the correction in the Market.
Chad
Brad,
I just picked up a new MacDaddy Mac! I did those in no time on Keynote. Thank you for the compliment as well!
Make it a GREAT day!
Chad