On June 2, 2011 I reviewed the Lynchburg Multiple Listing System (MLS) land data for all active tracts under 6-acres in Campbell County.
Below are several quick facts:
Filed under: Campbell County, Statistics on June 2nd, 2011 | No Comments »
On May 25th 2011 I reviewed the Lynchburg Multiple Listing System (MLS) land data for all active tracts under 6-acres in Lynchburg City.
Below are several quick facts:
Filed under: Lynchburg, Statistics, Subdivisions on May 25th, 2011 | No Comments »
On May 22nd 2011 I reviewed the Lynchburg Multiple Listing System (MLS) land data for all active tracts under 6-acres in Amherst County.
Below are several quick facts:
Filed under: Amherst County, Statistics, Subdivisions on May 22nd, 2011 | No Comments »
On May 19th 2011 I reviewed the Lynchburg Multiple Listing System (MLS) land data for all active tracts under 6-acres in Bedford County.
Below are several quick facts:
Filed under: Bedford County, Subdivisions on May 19th, 2011 | No Comments »
First quarter land sales (Jan. 2011 - March 2011) show mixed results. Compared with 2010 first quarter sales are up 21percent, but gross sales are down 2 percent.
(1st Quarter Sales By Year)
On December 31st 2010 the Lynchburg MLS has 1337 land listings with 994 being less than 6-acres. The number of tracts six-acres, or less, increased by 103 from the first quarter 2010 and the total number of land listings also increased by 206 from that date.
This is still a buyer’s market.
Every great dream begins with a dreamer. Always remember, you have within you a strength, the patience, and the passion to reach for the stars to change the world.
Filed under: Buyer, Seller, Statistics on May 17th, 2011 | No Comments »
In an earlier post I spoke about the time it will take to sell the current inventory of subdivision lots. - It appeared to be about six years. Here I want to look at the problem a little differently. Bedford County has been the hottest selling area for the past decade. Currently, it is the location with the greatest volatility because of the number of lots they have on the market. - See graph below:
Looking at the Bedford County line you see the “2010 Median” is $47,500 and the “2010 Average” is $48,616. These two prices are derived from all the sales of Bedford County lots, undeveloped land that is less than 6-acres, during 2010. Now looking at the “Current Median,” which is $60,900 and the “Current Average,” which is $73,808 you see what the seller is trying to get. There is a significant difference in both the median ( $47,500 vs. $60, 900) and the average prices ($48,616 vs. 73,808). For me, looking at these numbers a seller will have to reduce there lots $13, 400 - $25,200, or the purchaser will have to pay the same amount to purchase the lot. Sorry, for right now I’m betting on the purchaser.
I’ll let you play with the other numbers. Contact me if you have any questions.
Filed under: Amherst County, Appomattox County, Bedford County, Campbell County, Central Virginia, Statistics, Subdivisions on March 2nd, 2011 | No Comments »
2010 State of the Markets from Virginia Association of Realtors on Vimeo.
Filed under: Buyer, Central Virginia, Education, Statistics, VAR on January 29th, 2011 | No Comments »
During a buyer’s market one of the jobs of the agent is to find opportunity for his client. Yesterday’s News & Daily Advance articleoffers opportunity to potential purchasers of real estate at both Smith Mountain and Leesville Lakes. This article does not speak of lack of amenities because they are still intact. It does not talk about a loss of natural beauty through an oil spill because that too has not taken place. What it says is that prices are now lower by “17% than four years ago.” – review my June 4, 2009 blog for additional information. Price reduction happens with the selling of commodities, which land and second homes are.
Photo used with permission from Smith Mountain Lake
Filed under: Buyer, Lake Property, Out-of-Town Buyer/Seller, Statistics on November 12th, 2010 | No Comments »
3rd Quarter 2010 Land Sales from Lynchburg MLS
The National Association of REALTORS© has just completed a 2010 commercial real estate update that reviews the current conditions of several sectors nationally.
Because 75% or more of past land sales were with lots 6-acres or less, we will need to see a sales increase in this sector for a pre-2006 revival. Currently, we have a six year inventory of lots on the market. I believe we will see a new demographic picture with fewer sales of lots under six acres when sales stabilize.
Filed under: Buyer, Out-of-Town Buyer/Seller, Seller, Statistics on November 2nd, 2010 | No Comments »
Land sales have been dismal for parcels that are one to six acres. Because most new homes fall within this acreage, seventy to eighty percent of all land sales are in this range. Currently, tracts that are 100+ acres are selling, or not selling, through auction. If these tracts do not sell then either the lender is taking back the property or the seller is waiting to see the market improve. So, what is happening with land sales for land between seven to one-hundred acres? Much of this area appears to be dead, but there is activity for land that is ten to thirty acres. Today I researched 191 parcels that are in the Lynchburg MLS. The size went from ten to fifty acres. What you will find below are the five least expensive tracts that are located in the following counties: Amherst, Bedford, Campbell, Appomattox, and Nelson.
Filed under: Amherst County, Appomattox County, Bedford County, Campbell County, Nelson County, Statistics on June 16th, 2010 | No Comments »
