Across the Nation, winter months usher in colder temperatures, fewer transactions and expanding waistlines. In the Coachella and Imperial Valleys, Land Advisors is keeping the heat up and pressure on by closing 240 detached condo pads, 222 acres of prime residentially-entitled “Ag” land, and placing over 500 acres of prime “path-of-growth” farm land under contract!
In 2011, the Coachella Valley and Imperial Valley sub-markets appealed to private investors looking to buy unimproved land for long-term holds. As we round the corner into 2012, the homebuilding market is beginning to show signs of recovery, and some reports indicate that housing is making a comeback. That being said, returns on long term plays for land buyers might not be as far out as initially thought.
CNBC recently reported that homebuyers are jumping back into second home purchases… Good news for the Coachella Valley sub-market, where secondary residences are a high percentage of home ownership. CNBC Video: Investing in Second Homes
Source: Stone James, Marketing Consultant, (760) 219-7227