You still may not be able to find a buyer for your house that sits wilting on the market, but don't be surprised if that large empty tract of land down the road is getting plenty of attention.
While the existing home sales market is just beginning to show fluttering signs of life, things are booming in the land sales sector.
The truth is, land has been the key all along. Even when home prices were leapfrogging their way to the stratosphere, it wasn't the structures that were increasing in value, it was the land those structures sat on. Why land? The old saw is true: Land is valuable because they aren't making any more of it.
WalletPop's writer, Ann Brenoff provides a break down of how land sales are leading the housing recovery. Thanks to tax breaks and cost cutting, builders are facing less burdens when it comes to strengthening their bottom line. In order to start building, the sale of land is a developer's first step. The incentives to build are greater during the recovery, so land owners are faced with increase demand. Areas such as Southern California are hot spots for land sales, and experts project more development in Arizona, Florida and the rest of the country. Most of these places were hit hard during the housing crisis.
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