Land Prices Take a Downturn
Real estate prices are climbing at the historically high rates in the metro area but I found one area where prices are have taken a downturn. Land!
I was minding my own business doing some market research when I plotted this chart for lot sales.
Thinking it might be fluke I decided I better
check out the surrounding counties.
I grabbed three counties and pulled the
sales and found the same downturn.
Given that interest rates seem to be staying low it looks like a great buying opportunity for a new build.
Given that interest rates are low and looking to stay that way it looks like a great buying opportunity for a new spec build.
Two Pre-listing Deals-
1) Shelby Park- 1011 S Hancock St. is a +/-1,100 sf 2 bedroom, 1 bathroom, camelback. It has a long-term tennant (since 1979!) who would like to stay. It needs extensive rehab. Pre-list Price is $65,000.
2) Algonquin Park - 935 W Whitney is a +/-750 sf 2 bedroom, 1 bathroom, bungalow, It's vacant and rent ready. Pre-list price is $63,000
Call Brett for details (502) 442-2277
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