Land Advisors’ Antelope Valley Team is working hard to identify every land opportunity for public and private builders and investors in the High Desert. The best land deal opportunities are few these days, but the Team currently has three exclusive listings, two of which are now under contract with close dates quickly approaching.
Springtime in the A.V.: Photo of the Antelope Valley California Poppy Reserve
KB Home continues to dominate the Antelope Valley’s new home sales market. The public homebuilder is leading the charge with eight actively selling projects in the region. One or two private homebuilders are trying to break into the action, but are reporting slow sales according to Hanley Wood.
Investors are keeping their eyes open for the “right” land deal opportunities in the High Desert submarket. Resales are holding steady and not many finished lot opportunities are available.
Source: Michel Faris, Marketing Consultant (949) 852-8288 ext. 14
The cool winter winds continue to blow through the Antelope Valley residential land submarket as January moves into February. Homebuilders and investors alike are taking a cautious approach towards the land buying pool and are hesitant to jump in.
Finished lot inventory (which includes both finished and partially finished lots) currently stands at approximately 2,500 units in the Antelope Valley. Palmdale holds approximately 1,600 of the lots and Lancaster has the remaining 900. 95% of these finished lots are controlled by private investors who are looking at two to three year holds on their land investments. These investors are waiting for home prices to increase and for homebuilders to return to this submarket before they make their next move.
The Land Advisors “High Desert Team” continues to keep the pulse of deals in the Antelope Valley with two current listings and one escrow.
Source: Michel Faris, Marketing Consultant, (949) 852-8288 x14