So my current analysis of land values in a certain southeastern metro Atlanta county revealed that over the past 24 months, the majority of vacant land transfers have been, NOT. What does that mean? Well, looking at the thirty some odd sales of vacant land, more than twenty were deeds under power - you know, foreclosures. That is a pretty significant number for a county with a land size more than 300 square miles and two major interstates running through it.
Although we are seeing some return of commercial market activity, it seems that land ownership is still mostly speculative. And, lenders seem unwilling to continue taking the risk of a loan without payment and are taking property back for resale, sometimes, apparently, for $0.30 on the $1.00. If you still have cash, now might be a great time to speculate.
