Private investors are taking a cautious approach to buying land in the Antelope Valley. Home sales are still slow and homebuilders are scarce.
KB Home is still the most aggressive buyer of finished lot opportunities in Lancaster and Palmdale. The public homebuilder has captured the Antelope Valley sub-market to the detriment of other public homebuilders.
The Antelope Valley is the most affordable area of Los Angeles County, and KB Home is taking advantage of record low land values by scooping up several finished or semi-finished land deals. The homebuilder has always believed in the profit potential of this sub-market and is now reaping the rewards of beating out the competition in land acquisition.
The Land Advisors High Desert Team (Michel Faris & Randy Coe) recently facilitated the closing of two transactions where KB Home purchased semi-finished residential lots in Lancaster.
KB Home also purchased 18 additional single family lots in semi-finished condition in the Sandstarr West community located on the southeast corner of Avenue K-8 and 27th Street West.
Other High Desert investors are waiting for home sales to pick up in the windy Antelope Valley, in addition to the emergence of more finished lot opportunities. Until the sub-market begins to see signs of a broader economic rebound and improved home sales, performance is going to continue to blow right by.
Source: Michel Faris, Marketing Consultant, (949) 852-8288 x14