I NEED Land in Newburgh NY

By
Real Estate Agent with Key Properties of the Hudson Valley NYS DRE #40BO1055114

Sell Your Land In Newburgh NY

If you are a buyer looking for a brand new home in Newburgh NY, you have probably been having a difficult time. There is very little inventory of homes currently available that are actually in the process of being built. Very few make it past the beginning stages before going under contract.  The trend lately is that once they are complete, these new construction homes are already sold.

Buyers for Lane in Newburgh NYMy builders are running out of building lots and buyers are looking to purchase homes. Many land owners took their parcels off the market when the bubble burst. They are “waiting” for things to get better. Question is how long before those numbers will return to where they once were?  It could be a while. Although I am seeing more buyers and inventory is shrinking, the prices are not soaring as they did a while ago. It could take quite a while to get anywhere   near those inflated prices. Building lots went as high as $130K to $150K for a simple bilevel home. Prices of land from the bubble would result in a builder losing money on each and every home. In 2005 bilevel homes were selling for $350K and up with few amenities at all.  Now the same home, only fully loaded, would sell at around $300K on a desirable lot. It will take quite a while for the price of land to reflect those higher numbers.

That leaves me with the quest to find land owners that are willing to sell at the current market value. While waiting until the price of land goes up the owners still pay taxes and do not get any return on their investments. If they are looking to sell, the market value is all that a builder can pay. Few retail buyers are willing to pay top dollar for a lot as they can work with a builder to negotiate a better deal for their new home on a lot than paying individually for it. This is something that has been hard to convey to land owners. Sell now at market value or wait ten years for the potential to sell at a higher price. I guess it is a matter of whether or not there is a financial need and or the ability to wait and continue to pay taxes on the property. I have buyers for buildable land. Builders willing to buy these lots are able to pay in cash and would move forward quickly.

If you own land and wonder what it is worth give me a call. I can help you with that information. Together we can work to get you top current market value for your land. Do you really want to pay taxes again next year? Call me or sign up here for more information.

 

Sell Your Land In Newburgh NY

 Janis Borgueta, is a Realtor in Newburgh NY. Her blog is about living, working and Real Estate in The Hudson Valley. If you would like more information about Real Estate in Newburgh NY and Living in the Hudson Valley, please subscribe to this blog. When you are looking to buy a new home, Search the MLS for New Homes in Newburgh NY. We have homes for sale in Newburgh NY.

This post was originally published at "I Need Land  Newburgh NY" Like what you see? Don’t forget to subscribe to my blog to keep updated with the latest Hudson Valley Real Estate, Community News and Homes on the market.

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Ambassador
2,212,148
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

I wish I had some land for you-how about a half-acre in Randle Wash. for only $47K?

Feb 23, 2013 11:24 AM #1
Rainmaker
879,514
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

The price isnt so bad Michelle, but a bit too far for the commute to NYC?? Thanks for asking!

Feb 23, 2013 09:28 PM #2
Rainmaker
600,335
Mitchell J Hall
Compass - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

 "Buy land, they're not making it anymore". Mark Twain

Feb 23, 2013 10:10 PM #3
Rainmaker
879,514
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Love it Mitchell!! The land owners right now think that next year the prices will double. NOT happening. Some lost a ton of money and others are day dreaming. 

Feb 23, 2013 11:21 PM #4
Rainmaker
5,330,743
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Hi Janis.... do a postcard mailing to land owners.... I did one a few months ago and had two responses.... two is better than none!! one worked, one didn't!!

Feb 25, 2013 11:30 PM #5
Rainmaker
879,514
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Good idea Barbara but builders want things on a silver platter! They not only want the land, they want finished lots. I talked with an owner this morning about fair market value and he won't even entertain a discussion. He is planning to build himself. He is not a real builder. That should be interesting as the competition are building nice houses and if he is not he will suffer in the end.

Feb 26, 2013 04:59 AM #6
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Janis Borgueta

LIC RE Salesperson
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