Browsing: Single-family detached home

Market Trends, News & Commentary

This is Part 2 in the Residential Land Development series showing you how to find, price, and develop land for residential single family property.

If you’ve followed Residential Land Development Part 1 you’ve put together your development team, done a little research into the type of property you want to build and the market you will farm for potential land purchases. You’ve determined the highest and best use, researched zoning and other legal matters, and now need to determine the economic feasibility of the project. We do this by estimating the overall costs of the project. The results of your down and dirty, quick economic feasibility analysis will determine whether you move forward with your project, or whether you dump it and move on to the next piece of land. Here’s what you’ll do:

Market Trends, News & Commentary

Since their invention, heavy equipment such as...Last week I wrote an article describing how to price and develop offers on land purchases.  While that information is an important part of the overall development process, it is only a small fraction of the work that needs to go into developing land for residential use.  As such, I’d like to explore the residential land development process in a more thorough manner, which will include this article, and several to follow.

With that said, this article will focus on the process of land development, risks and rewards, and a few things you’ll need to get started in the business of Residential Land Development.

Land development is the process of preparing raw land for the construction of improvements.

It can include:

  • Demolition of existing improvements
  • Clearing and Grading
  • Rezoning if required
  • Installing utilities, sewers, streets, and sidewalks
  • Constructing Improvements like driveways, foundations, and building pads

Although developed land creates no more income than raw land, it is nevertheless brings land one step closer to its ultimate use; a home, apartments, office buildings, hotels, etc.

Market Trends, News & Commentary

Small Single-family homeIs it finally here? The light at the end of the you know what?
(tunnel, for those who are bad at guessing)

The government (yes, OUR government) is reporting that sales of new, single-family homes went up some 11 percent in June from the previous month while, at the same time, the actual number of new homes still on the market was at the lowest number since the winter of 1998!

One expert (and we all know how accurate experts have been of late!) is even quoted by Reuters as saying that the figures support the thinking that the “housing market has bottomed and that the economy has stabilized and will grow in the third quarter.”