Land at 15 cents on the Dollar

Last night I spoke with a land developer. He just purchased improved land in SoCal for $0.15 on the dollar from a homebuilder (builder’s total cost). The deal closed Friday. The purchase price was less than half the cost of just the improvements (grading, streets, etc)! The deal has no leverage, and the buyers are hoping to sell in 3 to 5 years to another homebuilder. They can wait much longer if necessary. The other details (like buyer and seller) are confidential….
Original Source

  29 March, 2008| housingblogs | @ 21:41

• VIDEOS
• Economía Blogosfera
• Bitácora
• Economía G . Medios
• Blog de Economía
• Blog Vivienda
• Mercado Divisas
• Agregador Marketing
• El Intercambiador
• Energía, M. Ambiente
• Blog Análisis Técnico
• Canal solidario
• Agregador A.Técnico
• Agregador Motor

• Economy Blogs
• Hedge Funds
• Fundamental Analysis
• Housing Blogs
• Technical Analysis
• Energy Blogs
• Derivatives: Futures
• Marketing Blogs
• Economy Mass Media
• VIDEOS

Categories:

• housingblogs

Recent Comments

• admin: [List-o-links] 3-31-08 Credit Crunch Update...

Calendar:

Archives:

• January 2010
• January 2009
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
• March 2008

Meta:

• Log in
• Comments RSS
• Valid XHTML
• Utilities
• XFN
• WP
• RSS