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highest and best use: What You Need To Know About Land and Land Banking - 08/25/11 05:48 PM
Years ago I wrote about LAND and LAND BANKING. My observations then are just as valid today as if I just wrote them.Land remains my main focus for investing in real estate and for securing  retirement for Baby Boomers.
Everybody knows what land is, right?
Or do they?  Sure, land is that portion of the earth's surface that is not under water.  But that definition covers a lot of "land."
To understand land we need to understand the uses of land.
Some land is forested.  Some land is desert.  Some land is prairie.  Some land is flat.  Some land is steep. … (4 comments)

highest and best use: Prices - Up Or Down? - 02/08/08 02:27 PM
Prices - Up Or Down? By Bill Roberts
There is a lot of talk these days on pricing of real estate. Most of it is wrong.
There is no "magic number" for what a property is worth. That number is arrived at by a meeting of the minds of the buyer and seller, maybe with a little help from his real estate agent.
When prices were going up double-digit percentages each year it wasn't because they were necessarily correct, but rather because a buyer was willing to pay that price. Now it seems that buyers aren't even willing to pay as much as they … (8 comments)

highest and best use: Making Money In This Market - 01/02/08 01:44 PM
Making Money In This Market by Bill Roberts
Making money in this market by increasing the "use" or utility of a given property is a good strategy in today's market. There are many under-utilized properties out there from vacant lots to houses with functional obsolescence.
This is different from "rehabbing" because rehabbers generally just want to make the property look better, but they don't actually increase the use or utility.
Use Change
The principle that we are talking about here is HIGHEST AND BEST USE. To determine highest and best use takes a little bit of common sense combined with vision and imagination.
In a neighborhood … (14 comments)

highest and best use: I would never buy raw land part 2 - 07/23/07 12:06 PM
 
I am always hearing people say "I would never buy raw land."  It's like they don't know that it is land that appreciates. They think that only improved property appreciates. But actually it is the land component of improved property that appreciates, not the structure. The structure actually DEPRECIATES, and eventually needs to be torn-down.
Land is a good investment. The costs of upkeep are low. The taxes are low. But the RATE of appreciation is greater than for the improved property next door. As an example, assume you have a 3-bedroom house on a lot. You paid $300,000.00 for it just … (5 comments)

highest and best use: Highest and Best Use, part 2 - 07/08/07 09:04 PM
My philosophy is pretty simple. You want to build wealth you don't have to steal the property.
There is a lot of under-utilized real estate out there. It is NOT being used at it's HIGHEST and BEST USE.
Pay market value for it in its current use and enhance its value by changing its use.
That big strawberry field about a block south of Disneyland is an obvious example. For over 50 years that property has not been producing the kind of income it could have if it had been employed at its highest and best use. Can you imagine the millions of dollars … (8 comments)

 
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Bill Roberts - "Baby Boomer" Retirement Planner

Oceanside, CA

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Brooks and Dunphy Real Estate

Address: P.O. Box 712501, San Diego, CA, 92171-2501

Office Phone: (619) 244-4610

Cell Phone: (619) 244-4610

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Everything that the "Baby Boomer" needs to make sound financial decisions regarding real estate investing and retirement planning. Business Opportunities, self-directed IRA retirement plans, and mortgage strategies.


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