Housing 2010

Housing Market: I am convinced that the housing market for new homes will remain flat well into 2010, if not beyond. The housing industry has always been a barometer of the economy - in a down turn and when recovery starts. Builders will be exhausting the inventory of finished lots before the thought of land purchases for design and entitlements. Land prices will continue to slide but will not reach match the reduction in home prices.

Well located land and priced well below the market will be a good investment. If the property has potential for rezoning to add value, then now is a good time to investigate.

We all know that the way we develop land and build homes will change. The process in which to evaluate land for future use will not change. The basics remain intact. We may need to add several new items to investigate but buying land remains an art. In your market, investigate opportunities of forclosed homes with land. I will be discussing site analysis and due diligence work required to evaluate land for development purposes.