Will all the brands survive ?

[Builder]

We're running about 250-350K for a 1-2 acre building lot on a nice road. $500-600K minimum for a small house teardown. I'm looking to build on a 5 acre lot right now and I can get it for less than 400-450K.

 

[Soundguy]

I'd say you're in the vast minority. The rest of the nation is suffering from falling home prices, slow construction and loss of equity in mortgage positions on their homes.

Maybee .. maybee not.

While home prices are becomming depressed.. vacant land is just barely starting to fall.

10 ys ago.. pasture land went for 3500-5000$ an AC.. jumped to 7K pretty quick.. then 10K.. and 3ys ago whent he bubble hit.. jumped to 20-25K for same land with same old dried cowpies on it.. land that was a bit more lush and in good areas.. went to 35K.

Now that uh.. economic correction' is in full downward spiral so to speak.. land ahs only dropped to the 17-12k range.. with particularly crummy pieces that are swampy, nothing but sand or heavilly scrub-treed and junky.. those you might buy for 10K.. if ya buy 60ac or more at the time..

contrast that to land/home packages that have dropped up to 50k in value in some areas.

soundguy

 

[dgl24087]

I'm seeing 130' x 130' lots at $100,000.

 

[chh]

I was just offered 95 acres of "rough" land today for $450 an acre. About 1/2 of what an piece neighboring it sold for last year. Most ranch land starts at $1500 an acre and goes up to about $3000 an acre. Small parcels of choice ranchettes top $10,000 and acre. In suburban Tulsa and OKC prices are considerably higher, but bargain basement by the prices you guys quote.