Land is a topic that is rarely discussed anymore.  There is very little demand for land by developers right now.  The market continues to decline, foreclosures of existing homes are on the rise and banks are not financing newly proposed subdivisions.  The risk is too high.  Our local planning board has nothing new on its agenda for subdivision approval.

Yet, there are still many land transactions that could be consummated.  Some land deals are actually easier and much faster than going through subdivision approval with your local boards.  One of my best land transactions was selling a 23 acre parcel of land in Franklin MA to The Church of Jesus Christ of Latter Day Saints.  This parcel could easily have been an upscale subdivision with large custom homes.  It was in a prime residential area in Franklin surrounded by homes of that magnitude.  The approvals would have taken 2 years. 

There are no special permits needed for a church.  The transaction was done within a year, and it was a cash deal for $810,000 for that parcel.  There are many uses for large parcels other than subdivisions and now is a perfect time to capture a few land deals.  Not every concept requires a special permit and knowing your zoning by-laws will open up many more options for future land transactions.

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20 Comments on Broaden Your Horizon....Real Estate Is More Than Selling Homes.....There Are Land Deals !!!

OCT
27
2010
257,100 Points 30 Featured Posts Attended Rain Camp Called Shot Master

Barbara, Way to go. You are on top of your game. Thanks for sharing another great tip for a down market.
8:09am • #1
795,138 Points 80 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Barbara, you do know your land deals well...and it is something we all need to develop better skills in ...
8:15am • #2
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Charles.....often, agents focus on one concept and there are so many other options available....land deals are very desirable....I'll take it any day!!!  there are professional medical buildings that are in great need in our area....specialty building....kidney dialysis for example.
8:16am • #3
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Ginny.....real estate IS land....agents seem to focus more on the improvements thereon!!!!!
8:18am • #4
Localism Sponsor Attended Rain Camp Called Shot Master

Barbara - You are always thinking out of the box. This is an excellent example.
8:28am • #5
219,426 Points 27 Featured Posts Called Shot Master

Wow Barbara, I find it hard to believe that there's any land left on which to in Franklin.  I know many who would argue that enough is enough already. 
8:35am • #6
377,518 Points 17 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Barbara,

Our area is pretty well built up but the agents who deal in land do quite well.  Thanks for the reminder; it is not an area that we have gotten into but we should consider it.

~Lisa
8:39am • #7
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Linda.....selling real estate is all about selling land.....
8:41am • #8
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Karen....yes, Franklin has been built up over the past few years.....I participated heavily in that happening!!!  However, there are still parcels available and there are many other uses for those parcels....
8:42am • #9
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Lisa....and when every parcel is gone, the existing homes will be raised and another building erected in its place....it may not be a home, it may be something else....the parcel I sold to the Church had a home on it and they removed it.....they actually offered it for free if someone wanted to take it away....
8:45am • #10
1,098,330 Points 51 Featured Posts Outside Blog Called Shot Master

The number of homes solds...up or down is tooted, trumpeted, annouced in the headlines. But if you factored in the land sales, folks building second homes, primary residences, you would find a lot of extra sales to figure in to the real estate market tally. Rural states have tons of land and there are boatloads of listings being sold, not reflected in the home, home, only home thinking.
8:45am • #11
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Andy.....yes, there are many uses for land other than to build owner occupied homes.....there is a great need in the medical field, churches, schools, daycare centers, etc....and the zoning does not necessarily require a commercial area....there are concepts that can be erected ANYWHERE....
8:51am • #12
999,295 Points 42 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Land is what real estate is all about--it is not easy to sell dirt right now, but it is a great time to invest in it--demand is down and so are prices.
9:13am • #13
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Norma.....that's right....prices are down.....it's a great time for institutions to take advantage of that fact....
9:34am • #14
134,315 Points 2 Featured Posts Called Shot Master

Barbara,

I love farm and ranch deals down here, the lead time on them is usually in terms of years though. Sounds like you had a great time with yours. Congrats!

-Brent
10:43am • #15
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Brent....it's always nice to sell a parcel of land to an entity other than a developer.....I've sold many of those, but when you sell to a Church, school, medical facility,etc. it's different....
10:47am • #16
366,919 Points 18 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

There is opportunity in all types of land transactions and good for you for closing another big deal.  Does this mean there will be more people knocking on the doors soon?  Thanks for reminding us that there continues to be opportunity everywhere in our communities.
10:48am • #17
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Larry.....there are land deals waiting for the right fit....that's all it takes is the right fit.
11:42am • #18
1,207,035 Points 193 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Your ideas on how to approach land deals are great. That's why I have you to widen my horizon.
12:45pm • #19
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Loreena.....yes, you need to broaden your horizon.....land and new construction will place you at the top.....
12:47pm • #20


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Barbara Todaro "New Franklin MA Homes"

Franklin, MA

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RE/MAX Executive Realty

Address: 445 Franklin Village Drive, Franklin, Ma, 02038

Office Phone: (508) 520-9881

Cell Phone: (508) 918-9148

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The Kuney-Todaro Team is the "#1 team in Franklin's #1 office." Our expertise is in marketing new construction and resale properties. New construction is our niche and we have sold 40 subdivisions in the area of Franklin MA.


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