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Leanne Smith, The Grit and Gratitude Agent (Dirt Road Real Estate)

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Rainmaker
1,577,328
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I wish! 😂 That is a very "non-Califonia" claim:
"Vacant land is plentiful and still reasonably affordable"  🤣. Now, I merely jest with you as a commentary on our ridiculous prices and rapidly decreasing vacant land.

Vacant land is few and far between in SoCal and in The Bay Area, this I know for sure. The land you can still buy - that makes for great level or gentle sloping lots is very pricey. 

But, you are correct Leanne Smith  that many of my clients are weighing the cost and time committment of vacant land & construction vs. resale or new construction.

May 29, 2024 03:02 PM
Rainmaker
731,569
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Not in our market.  We just sold a lot for $850,000 in town.  Lots are very expensive in Central Oreogn.

May 29, 2024 02:15 PM
Ambassador
3,192,092
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Our current property includes 3 parcels of about an acre each.  I regularly get mail/calls wanting to buy the 2 vacant parcels (despite the fact that one of them is landlocked with no easement and adjacent to the interstate.

Mail solicitations are common for the 10 acre lot we're building on in WV.  They don't realize we're building.  Now are the offered prices reasonable?  Not even close.

May 29, 2024 03:19 PM
Rainmaker
1,367,450
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

There is not much buildable vacant land available in our area and what does exist will sell for a pretty penny if offered for sale.

May 29, 2024 02:18 PM
Ambassador
1,083,242
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

I've seen a lot of people interested, but with the financing to acquire land then build (and then get a final permanent loan), once people see the costs and tedious process, they're less sold on the idea.  In many places I'm seeing the problem of affordability VS desirability --- plenty of affordable places...that no one wants to live.

May 29, 2024 03:58 PM
Ambassador
3,372,648
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

In some areas, yes. 

I am in the San Francisco Bay Area and am with Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets 

May 29, 2024 03:23 PM
Rainmaker
2,262,045
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

     Low cost, more acreage land sales in Maine already in high demand. Not "will" there be an uptick. It's scramble, hustle to keep the land listing inventory healthy.

     A few acres lot with drilled well, concrete septic are easy to park the RV on for now. To slow cook a house without the 30 year mortgage Leanne Smith.

     Many land buyers want to own 40 acres or more to grow their own food and homestead or raise a family or just retire away from traffic, crime, pollution. The AZ, FL, TX buyers especially want to beat the heat.

maine homesteading

May 30, 2024 02:20 AM
Ambassador
5,344,199
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Sadly, in our area, the cost of building is pricier than resales, Leanne. I wish we could get that cost down as I LOVE helping buyers find vacant land and pick out the perfect builder for their needs! 

May 29, 2024 08:58 PM
Rainmaker
1,603,700
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

If it can be used for residential housing, I think it will rise.  Builders gotta build.

May 29, 2024 07:51 PM
Rainmaker
1,238,368
Peter Mohylsky, Destin BeachPro
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

Vacant and available are two different issues here along the beach.

May 29, 2024 07:00 PM
Rainmaker
816,290
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Not in our market, lot prices here are very high as there isn't a lot of land left.

May 29, 2024 06:52 PM
Rainmaker
7,968,953
Roy Kelley
Retired - Gaithersburg, MD

Vacant land in our area would not be considered affordable by the average consumer.

May 29, 2024 04:44 PM
Rainmaker
659,131
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

I think the demand for vacant land has already been in play noticeably since the end of the pandemic, plentiful and reasonable are not the terms I would use. 

May 29, 2024 03:34 PM
Rainmaker
2,802,421
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Maybe an uptick. but as the cost to develop, fees, city bureaucracy & costs plus bank fees may not cooperate however, as a long term hold, yes please do buy land

May 29, 2024 03:30 PM
Rainmaker
772,899
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Home prices will eventually level off and then eventually fall drastically.  That is the history of real estate.  Vacant land has the best chance of selling in this enviorment especially since interest rates don't matter as they are sold all cash.

May 29, 2024 02:34 PM
Rainmaker
202,040
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

In my market, the demand for single family building lots has increased dramatically.   

May 30, 2024 04:52 AM
Ambassador
2,496,958
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

The land prices where I am went way up from 2020-2022 - they are now no longer reasonably priced; last year when I was tracking land sales, few were selling. So in my area, I'd have to say no, I don't think there will be an uptick in vacant land sales for now.

May 30, 2024 04:39 AM
Rainmaker
5,329,633
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Depending on the applicable zoning and permitted uses, vacant land could see an uptick with vacant land specialists with a deep knowledge of zoning variances and building restrictions being the beneficiaries. 

May 30, 2024 03:41 AM
Rainmaker
1,219,508
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

I'm sure land will become more expensive. Just remember, markets go up and markets go down. This market is not sustainable

May 30, 2024 06:08 AM
Rainmaker
1,074,493
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I just had this conversation with one of our escrow officers recently. She says  she is seeing more escrows on raw land.. It just sells a lot more slowly. I have been selling land, and I know you have too.

 

May 30, 2024 05:54 AM
Rainmaker
5,172,241
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Not much vacant land in my area unless you go well out of the area. Supply and demand keeps that land closer in expensive and the cost to build a home continues to increase as well.

May 30, 2024 05:17 AM
Ambassador
6,516,593
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Other than development lots close to urban areas there is not that much of a correlation between the two.

Most buyers of land are doing it for far different reasons than those who buy homes.

May 30, 2024 06:01 AM
Rainmaker
852,408
Eileen Burns 954.483.3912
Trans State Commercial Realty Inc. - Fort Lauderdale, FL
FLorida Real Estate Connector

My county here in metro Fort Lauderdale is out of land.  Developers are going vertical.  I have friends 3 counties north downsizing looking for vacant residential land in north FL to put a new manufactured home on, dig the well and septic system and find the numbers are not working in their favor.

 

I see condo assoc in trouble and developers looking to pounce upon buying the owners out and knocking the older buildings down for something new and vertical....a metropolitan city if you will.

However, there is a big movement for living off the grid as well and predict you will be seeing a swell of activity since these will be cash sales.

May 30, 2024 05:56 AM
Rainer
392,088
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

our land prices are crazy and demand has been high for years.  Last lot we listed sold the day the sign went up.

May 31, 2024 10:56 AM
Rainmaker
1,517,853
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I doubt the vast majority of people have the fortitude to build and deal with local governments.

May 30, 2024 08:28 AM
Rainmaker
922,268
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not really. Many buyers have no clue what is involved in buying land and building. They prefer an already built home, or one being built by someone else.

May 30, 2024 06:42 AM
Ambassador
2,228,482
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

The price of vacant land here is not what I would consider reasonable. Add on the costs of Government regulatory requirements and infrastructure, and it becomes prohibitive for single-family dwellings. I think that's why there are so many multi-unit projects being stuffed onto small acreages. They can get a lot of housing units per acre.

May 30, 2024 06:28 AM
Rainmaker
491,974
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Leanne Smith 

Land sales in my area did increase in price, builders bought the land and built houses. The houses were priced better than a re-sale and sold because of being new. Builders now are moving to other areas looking for more affordable lots. Some are looking to purchase land and have a custom built home instead of a cookie cutter. I do see affordable land disappearing. 

May 30, 2024 06:10 AM
Rainmaker
655,765
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

On the east coast and west coast vacant land (from the responses) is definitely not cheap or inexpensive.  Out here building costs continue to rise as well. Maybe that is why people are buying vacant land and holding onto it until prices decline.

Jun 02, 2024 05:33 AM
Rainmaker
908,333
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Vacant land is not "plentiful" in my area and not cheap, nor are building materials. 

Jun 02, 2024 05:25 AM