The preamble to the Realtor® Code of Ethics begins with the words: “Under all is the land. And while at first that may seem a bit cryptic, the fact of the matter is that it has never had more meaning than it does today!
Where I live, in Coweta County Georgia, land was the hottest commodity in the earlier years of this decade. Developers were gobbling up any available acreage at nearly any price and even though production was at its peak, building lots were scarce.
Today, land is poison. Banks will not lend money to purchase or develop it, and there are hundreds if not thousands of building lots lying fallow awaiting the return of the economic equivalent of spring.
But land is still an excellent long-term investment. Those with cash reserves might want to consider foregoing paltry 1.35% interest rates and instead, invest in the most finite of all commodities.
And if one subscribes to the investment theory of buying low and selling high, there has never been a better time to invest in good, raw land.
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required. Visit CowetaFayetteRealEstate.com! Photos of the Great Smoky Mountains National Park. North Georgia Photos.
"the most finite of all commodities."
Ah hah!!!
THAT, "finite", is how I describe water front properties in my area when someone questions the "water front premium".
Land. It is the "Real" base for all Real Estate. The parts of property that convey are the land and those things affixed to it. You can always change the house but you can't change the land. I think it is a wise investment too Richard
Richard, what a great post. Land is finite, they sure aren't making any more. It is a wonderful time to invest in it.
Very true Richard. Land will be a good investment with a smart knowledgeable buyer. Especially ith location and future use in mind.
Richard,
Good point. Land is the basis of what we do. And I bump into agents who cannot get their mind around selling land, including lots.
I ask them, "When is the last time you sold a home without any land?" and they sometimes grin, and sometimes look confused.
The convenience of selling "Improvements," aka "Homes" in modern subdivisions where much of the due diligence is done and formatted into recorded documents is a crutch for too many REAL ESTATE agents.
Lenn...
It's a great time to take another look at land, isn't it? Thanks for the comment and reblog.
Paddy...
It's a great time to buy land ... if you have the cash! Thanks, my friend.
Andrea...
It has always been a good long-term investment, and it always will! Thanks so much!
Great point, Richard. Land generally appreciates in value and, as long as an investor is willing to wait out any downturns in the real estate market where new construction is not happening, it's a great investment. I will be listing some vacant land on the outskirts of Montreal soon, and I can't wait to get my hands dirty with all of the in's and out's of this sort of listing, under the tutelage of my broker. -- Tanya in Montreal
Richard....it's a great time to buy land.....if you have cash, you're golden....my builders are always looking for good parcels for short money....they'll hold it until the market changes.
In south Georgia land is real cheap...my brother has about a hundred acres...nice to hunt on but nothing else!
Richard land is always a good investment, but you have to be in it for the long haul. Not very liquid, but worth it in the long run. Thanks.
I started liking to idea of investing in land when I realized that they were no longer making land. That can make it precious to possess.
Richard: My husband and I have often thought of just buying land. Not a rental property, but land. There is definitely a limit to how much is out there.
Great post Richard, filled with wisdom, my Grandpa used to say "Buy land, they aren't making any more of it." And in Putnam County, like your area, it's a great time to invest.
Just like stocks Richard. No one wants them until they are back in demand. I laugh when I see my interest on my money market account.
Richard,
Great post. Land is an awesome commodity. The location of said land, also makes a huge difference on the value of one property to the next. For instance, in Buckhead, the land can be more valuable than the house, whereas further out the house itself has much more value.
I've also shared with my clients that a large part of the appreciation on properties in Atlanta has been the land and the fact that they are not making more of it!
All the best, Michelle
Richard, this was an excellent tie in to Realtor Code. I like the picture of the road leading to the unknown horizon. Kind of reminds me of a Robert Frost poem, "Two roads diverged in a wood, and I took the one less traveled by, And that has made all the difference. "
Richard. I have done just that. Just wish I had a few more thousand to play with. Some great deals to be had!
I was walking this morning and thought about how many houses look similar until you go back to "under all is the land." Location, location, location!