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Originally Posted by guccilvr
Land values rise and fall just as often as housing values. Ask anyone in a real estate company and they'll tell you that selling lots is crap. They can't make shit. Again, it's all dependent on where you are as each town has it's own market, but don't fool yourself into thinking buying land is a safe choice.
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Well, again, guess that has to do with the area...up here, land is like diamonds...or gasoline
Prices may drop a little, but you'll get at least your money back and, more than likely, then some. Developers fight over land up here, probably causing false rises in the value of it. (If you saw what I live in for an appraised value of over $350k, you'd drop over!)
It's a popular practice here to buy large lots with older homes, tear down the homes and build one, two, sometimes 3 new ones, rather than fix them up for a turn-around. And we're not talking acreage, we're talking square footage!!