gregorygarver.com

Answerman · Joined: 11 Oct 2003 Posts: 4

In short,if I plan to buy a plot what are the signs that I should look for to know if there will be appreciation in price in the near future?

Classic96 · Joined: 19 Nov 2006 Posts: 4

every ten years our contry has seen a realestate dive... this one came early and it was due to the feds decision to set up "adjustable rate loans" these loans got a lot of people who could not afford a home into a house.... now, over the next few years most of these homeowners were living on a shoestring budget as is, and never got a raise at there job, as that is also at a record low right now... and inflation continues... than bam, there adjustable rate changes and there mortgage goes up $1000 a month, this put a LOT of people out of home and the forcloser rate went threw the roof! As always, there will be a rebound, but the market is going to go down just a little bit more over the next 8-12 months, and than another 6-12 months after that it will level off while the industry gets there feet planted again...the scary thing is, this market has had a huge ripple effect across a range of other markets, pushing mortgage rates up causes large companies to pay more for there land, which causes them to raise the product prices, that... couples with his oil prices has led to a GREAT inflation and these same corporations dont have the money to pay there employees more without cutting into there own pocket.. so to answer your question, it is super shaky to buy a home right now, not sure what "near future" is for you, but we are looking at, at least, 18 more months of messed up market conditions

GC · Joined: 16 Nov 2005 Posts: 5

The best and worst sign is that no one wants the plot and the price is low. You gamble on your knowledge of life that in a few years that area will become popular . Like a population growth or special development like a marina will occur in that area. Buying a plot with an oil well before 9-11 shows great inspiration . The United nations land was donated free to make the slums more valuable to the developer who owned some much there in New York. Go with lots of homework first . Then add fifty years of life and two years of town planning and you will be ready.

InsideMan776173 · Joined: 09 Nov 2004 Posts: 4

To answer this question in one line, I'd say that the simple principle of supply and demand is a major factor in determining the rise and fall of real estate.More supply and less demand will keep the prices low and vice versa.One has to also look for influx of people from other places to determine if the forecast will be bright or not.Environmental factors such as close proximity to natural resources eg oil , will keep the prices high.To buy a vacant lot is a good idea.You know, they say one should not wait to buy land- instead buy land and then wait.Another simple thought is- "Buy land now, 'cuz they dont make it anymore"

Imtony · Joined: 01 Jul 2006 Posts: 5

Where demand is more and supply is short. and future development and govt plans of that area.

Judy7378 · Joined: 28 Mar 2007 Posts: 6

As in everything, do your reasearch. First, find out everything about the area you are going to purchase in. You are looking for job availability, population growth, available resources and services, and special features of the area. Next you need to buy wisely because this is how you make your money. Find the recent real estate trends in your area and find a plot that can meet the needs of the higher end sales. This is a down market, so you have much more power in negotiating than before. Use this power to get a great deal. You should be able to buy for less than recently sold places, or get more for your money. Down markets are the best time to buy. But you do have to do your research. If you get something under value, you do not have to worry about prices dropping, and when things appreciate, you make the most from your purchase. Most people will sit on the sidelines to long, and end up missing the great values.

Fergy · Joined: 02 Jun 2004 Posts: 4

It is simple, supply and demand. The demand was extremely high over the last 5 yrs so the supply was down. This caused the prices to rise to record levels. Now there are other factors like bank lending practices that helped create the demand, but that is an indirect effect on why the prices went up. It was all about the supply of homes and demand of buyers.

JoeC · Joined: 03 Dec 2005 Posts: 5

You need to see price trend in that region and developments in and around that region...Please visit http://www.99acres.com/ for more details...

MichaelC · Joined: 20 Feb 2006 Posts: 5

Demand and supply.Price of land are normally appreciated always.