If
I knew that answer I would be retired on my own private island! But I can give
you my professional opinion and the answer is YES and here is why. I have
included a chart as a visual aid to this article. To begin with, the land
prices are average prices for a 3 county area located between Columbus and
Lagrange. Columbus is the third largest city in the state of Georgia. Therefore
these prices may be much different than the area you live in. The numbers are
important but trends are what we are focusing on. The graphs covers Price Per
Acre and Interest Rates (30 Year Fixed Mortgage) from 2007 to 2011.
Let’s
discuss interest rates…with our national debt at a all time high and our
printing presses running wide open, it is just a matter of time before the rates
start moving up.
Many
areas are experiencing improved activity in their housing market (this is a
localized phenomena). Many areas maybe most areas are experiencing flat prices.
Some have predicted we are at the bottom, it seems that way to me!. Housing
will lead the way and land will follow later. Everyone needs a roof over their
head and a bed to sleep in, you do not have to own land. Land is an investment
and the buyer has a very different profile from the home buyer.
From
a trend analysis it truly looks like the stars are aligned. I believe it is
time to “jump in”. Land prices are at a 10 year low and interest rates are at a
historic low. What are you waiting on? I
will promise you one thing, we will all look back and recognize that we had a
historic opportunity. You never know you are at the bottom until after the
prices start on the way up !!
For Information on Buying
or Selling Land contact G. Kent Morris, ALC, RF
at (706) 457-0090
No comments:
Post a Comment