WELCOME: TO A. COLETTE HARRIS PROPERTIES, LLC

Real Estate Brokerage & Property Management Blog

Here you will find the latest real estate endeavor stuff I engage in on a daily basis.

Wednesday, December 22, 2010

Rural Vacant Land "Endeavor Analysis"


Hi Prospects & Friends,

I wanted to share a quick endeavor analysis I just came across while looking in the listing database for vacant land for sale. Listed below are current stats available:



Location- Texas
Listing Price- $46,400
List Date- 11/9/2010
DOM- 43 days (as of today)
Total Acres- 29
Land Use- Other
Water/Sewer- None
Road Surface- Dirt
Defects- None
Special conditions- None

So as I came across this vacant land tract in my search perimeters, I noticed immediately:

Total acres- 29
Land use- Other
Price- $46,400
+ factor- neighborhood near area of this 29 acres has new construction homes

So the seller is wanting $1,600/acre ($46,400/29) and to me this is an interesting price, I'm stunned. I know because the property is rural vacant land (not much population) this is equated into the price, which is very impressive to me still. So part of my "Endeavor Analysis" is I will look into more advanced stats with this property not given in the listing database. I want to know if the mineral rights are already retained, see a survey to identify any easements/encroachments/total number of acres recorded, if unrestricted or restricted, limit to subdivide, population, nearby shops/malls/churches and etc. I'm looking into diversifying my real estate and rural vacant land is where I want to endeavor next, because once vacant tracts like this come for sale it doesn't matter if their is no water/sewer or utilities or paved roads, the developer building around or near a rural vacant tract will drive up "demand" and this will eventually cause your land to be in demand, because "built out" will occur and then buyers will come your way and make an offer. My endeavor is to look into this vacant rural tract if it doesn't sell too quickly, because I would love to hold it till the developer "builds out" neighborhood close to this tract and then slowly subdivide the 29 acres when I feel like selling off. Who knows a power plant may decide to want to make an offer, and that would be the icing on my endeavor if happens, because now you got a developer wanting some or all of 29 acres as well as the power plant buyer! I've come to the analytical conclusion after carefully researching vacant land, the further you go out the land becomes cheaper, because the "others" (developers, builders, buyers, farmers, & etc) haven't found it yet, so therefore the "demand" for the price hasn't escalated yet. Trick is to get their before they do, and then enjoy your "demand" of price/acre go up. I'm even curious what are the sales prices of the new homes the builder is developing going for near this tract, because I would want to apply an advanced stat and dissect the new home sales price by subtracting out the cost of improvement (home) from the vacant land tract price, and see what is the cost of value of the vacant land as separate from the home. So I will be also analyzing those builder model sheets once I get my hands on them. Ok have to go, have a "Merry Christmas & Happy New Year" and much 2011+ success to you all!


April

My College + Small Business Equation



Hi Prospects & Friends,

Just yesterday I was thinking wow this semester and year went by quick, and I'm going to have to prepare for next semester, as well as prep for my small business too! So I came up with the idea next semester for January 2011 when I take my classes I will package my "Journal Design- F" along with my "Quote Tote Design- 5" the pictures are above in this post. February-May 2011 I'm not sure what next package I will decide on, since I have a variety to choose from! The journal will work great when I'm jotting down my tasks & quick notes while in class, and my tote will work great when I leave class & head to my small business carrying my daily business stuff, like camera, contracts, batteries, measure tape & etc. So I choose the package set this way because the colors coordinate magically! If your like me & juggle college and business or are even a multi-tasker, head over to my z and c store brands, you can access them on right side of my blog under "April's Business Websites" thanks!



April