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Parcel With Home Better Deal Today Than Vacant Property

By Karen L. Pietsch

Real Estate Agent with Cary Property Pros - 4 Sale Realty, Inc.

February 22, 2011 03:48 PM

I just discussed listing a lot for one of my past clients when it dawned on me that homes in my area can be purchased for as low, or sometimes, lower than what a normal sized vacant lot would cost.

Parcel with home better deal today than vacant property Vacant Land For Sale

Who would want to buy a bare, vacant parcel of land with nothing on it when you can now buy a similar sized parcel of land that INCLUDES a single family home already built on it????

Parcel with home better deal today than vacant property

What a sad world this is when you can buy a single family home for the same kind of price tag that a vacant lot would cost you.

I suppose this is just another example of how this marketplace is completely upside down .... in more than the one way we are all aware of.

Well, only time will tell. We'll see what we'll see.

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Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

Karen....the cost to build is so much greater than the deals you can get anymore. Thanks!

Feb 22, 2011 05:18 PM

Karen L. Pietsch

Cary Property Pros - 4 Sale Realty, Inc. - Crystal Lake, IL

Cary Property Pros. Cary Property Pros Premier Real Estate

Larry, that was kind of my point in writing this post. It will wind up costing someone more money to buy vacant land and build a house on it than it would to buy a home already on a parcel and not have the concern of having to spend the expense of building a home. So vacant land is not going to do well in this marketplace. It won't until the marketplace takes a 360. ;)

Feb 22, 2011 05:22 PM

Marte Cliff

Marte Cliff Copywriting - Priest River, ID

Your real estate writer

It is strange, isn't it? Not so strange that new home construction costs more than purchasing a "used Home" because building materials keep going up, but when the lot alone costs more than a house, that's nuts.

Feb 22, 2011 08:35 PM

It's a sad state we're in when the price of a vacant lot now can buy an actual home. Really kind of takes away from the value of a lot or land in general. Who would have ever thought that we'd ever be in a time where the value of land remains constant but that the value of a home has decreased so drastically that it makes vacant property not worth considering. Really sad. I think I would call that "obsolete functionality".

Feb 23, 2011 02:26 AM

Suzanne Taylor

Ultima Real Estate - Corpus Christi - Corpus Christi, TX

Home Sales In Corpus Christi, TX

Karen, too true. This market is definitely upside down, and since I am currently recovering from vertigo and every movement starts the room spinning, I can tell you it's no fun. Can't wait for the world to sit right-side-up again both in my world and the rest of the world.

Feb 24, 2011 06:14 AM

Parcel With Home Better Deal Today Than Vacant Property

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Karen L. Pietsch

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