quote:

Originally posted by fizteach:
There is 160 acres between Greenville and Campbell for about 300,000. You would need a house of course. I believe hay is farmed on the land which could give you a farm exemption. Just let whoever farms it keep on farming it to get the exemption.

Took me about an hour to drive to Dallas.

Wrong side of the metroplex unfortunately!

Let me be direct about this. Any piece of land near a major metropolitan area (especially one that is doing well economically), is likely only going to be affordable to developers, for whom it's part of their cost of goods sold for the buildings they're going to build on it. Unless you're pretty to very rich, buying land for the sake of having land, unless it's pretty much in the middle of nowhere, is going to be at least very difficult, if not impossible.

Thank cheap interest rates, especially what are essentially subsidized mortgages, that make real estate a preferred form of investment.

quote:

Originally posted by ryan81986:
Because they can get developers to buy it who will then divide them into 24 1/2 acre lots and put houses on them.

You mean 48 1/4 acre lots. They jam those houses in there around here.

quote:

Originally posted by Kskelton:

quote:

Originally posted by mikeyspizza:

quote:

Originally posted by 1967Goat:
Just wait until you get estimates to build the house!

I live in a development that has 2 - 5 acre lots. Someone bought a lot up the street from me for $125k. Then he contacted an architect and he designed a 2,000 sq foot house.

The estimates he got for building it were $3 per sq foot! His modest 2,000 sq foot home would cost him $600,000 to build! His lot is up for sale again.

Huh? $3 times 2,000 = $6,000.

I was thinking the same thing but decided he probably meant $300 per sq foot so left it alone..

Yeah, Old Goat none too good at math! Not sure why I typed 3 and not 300! I even read it a few times and still didn't catch it.

quote:

Originally posted by 46and2:

quote:

Originally posted by 1967Goat:
Just wait until you get estimates to build the house!

I live in a development that has 2 - 5 acre lots. Someone bought a lot up the street from me for $125k. Then he contacted an architect and he designed a 2,000 sq foot house.

The estimates he got for building it were $3 per sq foot! His modest 2,000 sq foot home would cost him $600,000 to build! His lot is up for sale again.

Recently I ran into a GC I know here in Colorado who was saying they're so busy lately that they're turning away work and raising their rates. Now, two years ago it was a different story, even a year ago, but the economy is on an upswing (thanks in part to the election), so right now is a bad time to be buying and building in popular areas, IMO.

And yes, location...

Things are booming around here. We have surpassed 2006-2007 levels of home building in the local area. We (my employer) just had the grand opening of a small neighborhood where we will build 60 houses. We have a list of over 600 people that are interested in buying a house there and some 20ish people have already put money down on specific lots. And we haven't even broke ground on the model yet.

We even have the land and demand to build more, but the trade base just isn't there. That left with the crash in '08 and hasn't returned. So most competent plumbers/electricians/etc are doing very well right now.

This all adds up to mean that land anywhere close to civilization is going to be out of reach for 99% of the population. You want land? Go out to BFE