There’s an old saying that a land market bottom (or other markets for that matter) is defined at least in part by an absence of bona fide buyers. And while it has certainly seemed that way recently as the land market has been pretty quiet in the second half of the year, an interesting pattern is starting to emerge in California’s Central Valley. Local investors, developers, and builders are judiciously re-entering the market and purchasing lots! Some of these buyers are the same groups that sold out at the peak of the market, and are pocketing nice profits.
The perceived notion that the sky is falling and things will never get better is running rampant and some local buyers with the right long-term perspective are taking action now.
Source: Jason Hepp, Senior Marketing Consultant, (661) 702-9080 x14