IT'S A GOOD TIME TO INVEST IN LOTS
Many buyers who are looking to invest, in this slow recovery time, are overlooking some great buys in lots. Many buyers are concentrating on repossessed homes as the way to make money in this recovering economy. Foreclosed homes are drawing a lot of attention, while lots are overlooked as investments.
Many buyers don't realize the great advantage of buying lots over foreclosed houses. For one thing, lots are cheaper compared to foreclosed homes. An investor can buy several lots for the price of one house. Lots don't require a lot of maintenance and repairs. Most REOs have been stripped, vandalized, or have set idle for a long period of time. They require extensive repairs which dig deeper into the buyer's pockets. Lots, on the other hand, do not require a lot of repairs; all you have to do is mow them occasionally and pay the taxes.
Investing in homes, besides the repair problems, may cause the buyer to enter the rental business in order to hold on to the investment any length of time. This is a very demanding job with lots of problems.
With land, particularly lots, all you have to do is to buy reasonable; and as the recovery gets into full swing, sell for a profit.
Certainly, there are some things to consider when buying lots for resale for future building-the first thing is location. Are they in an area that will become hot again? By hot, I mean is this an area builders and people will demand as the recovery gets into full swing?
Any lots a buyer invests in should be in a good, well-placed area with outstanding schools, close to shopping and business. These are the areas that will become hot again as people start moving and demanding new homes again.
I am biased, of course, but I strongly believe in the Science Hill area. It's a great area to live in with a good school and only a few miles from Somerset.
If you are interested in investing in lots or acreage, I have several possibilities--#l my subdivision in Losey's Landing. It is only approximately 6 miles north of Somerset by four lane, and close to the very good Science Hill School. Lots in this lovely subdivision range from 1/3 of an acre up to over an acre, and feature very modest prices. We have flat lots, wooded lots, and lots for basement homes. Prices range from $8500 up to $30,000. I can always put together a bulk package for the discerning investor.
We, also, list lots in Nancy, Nelson Valley, and the Burnside area. We can show some really nice, large tracts or farms that we have listed in several different areas of the county. So call us today if you are interested in this type of investment.
Nice Building Lots in Losey's Landing Subdivision Near Science Hill Elementary School.
Losey's Landing in Science Hill. A variety of restricted building lots in a beautiful, peaceful country setting. Over 40 lots available. Lots range in price from $12,000 each ~ $30,000 each. Lot sizes range from 1/3 acre to 2 acres each.
Lots on Cherry Drive each about 1/3 acre and for sale at $12,000 each.
Lots on Alice Lane Numbers 74-102 are each about 1/2 to 2 acreas and are for sale at $14,500 to $30,000 each.