OK the average days on the market for the VACANT LAND in Upper Westchester and Putnam County has gotten out of hand. The property that is in contract right now has been on the market for an average of 372 Days. This is over a year and counting. And a couple of pieces that were in contract have come back on the market. Seems like my prediction of a good beginning for 2008 was a little pre-mature!

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3 Comments on Average days on market for LAND has gone off the wall!!!!

Oh well that is what creates a free market what someone is willing to pay for your home or land.

02/15/2008 10:45 AM by John Walters (Specialized Real Estate)

When real estate prices are thought to be dropping why buy land that you know you have to invest money in building a house on when you do not know if you will be able to sell the house for the price of the land plus the price of the house (never mind a profit).

Land has always gone up last and dropped first in price just like condos do and homes further out from the city.

Those who thought or told others that real estate can NOT go down were mistaken just like they were in the late 80's.

The only thing we know for sure is people on Wall Street all got the fees they were looking for creating baskets of bad loans to dump on investors.  Since they got, collected and spent the fees we as tax payers are now left holding the bill for it all. Just like last time and next time.

Dishonest people created sausage (so named because those who make it know what is in it and sell it to others).  The only problem is they forgot (or were not able to sell it all).  That is why the big banks now have billions of dollars worth of bad paper. 

 

02/15/2008 10:52 AM by Land prices

Most of the land in contract is going for a lot less than the original asking prices. Some seem to be real bargains.

02/15/2008 11:05 AM by Thomas Santore-Westchester-Putnam Real Estate (Coldwell Banker Real Estate)

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Real Estate Agent: Thomas Santore-Westchester-Putnam Real Estate (Coldwell Banker Real Estate)
Thomas Santore-Westchester-Putnam Real Estate
Yorktown Heights, NY
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Coldwell Banker Real Estate

Office Phone: (914) 245-3400 Ext.: 159
Cell Phone: (845) 590-5488
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I will be be talking about the land market in upper Westchester and Putnam County. Also my Land Sales.

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