Acrewell Land Company

Author name: Alex Reese

Selling Land

The Mental Game of Selling Land

🌟 Introduction In recent years, rising land values in the United States have led property owners to think about putting their land up for sale. Yet with an uptick in listing inventory and an ever changing market, selling land can be a challenging task. This article seeks to offer you a roadmap for some of the mindset issues that prevent land sellers from having success so that you can avoid these pitfalls and sell your land with confidence. Photo by Ashim D’Silva on Unsplash 🛑 What You’re Up Against For landowners staying informed about the real estate markets state is essential. Economic signs point, towards a market with rising unemployment rates and a growing number of properties available for sale. Numerous properties are remaining on the market unsold and median listing prices across areas are experiencing a downward trend. Understanding these truths enables you to create a plan that suits the market landscape. If you’re feeling disheartened by the amount of unsold properties keep in mind that an organized strategy can set you apart. It’s important to brace yourself for the obstacles that come with this environment. 🎯 Have A Clear Intention When it comes to selling land having a clear vision is essential. You can’t adopt an attitude like “I’ll see what happens.” Instead your mindset should be sharp and defined; you’re committed to selling your property, and you have a specific plan to make it happen. This approach will shape how you interact with potential buyers and agents and help to drive your success. Having a clear strategy not only boosts your motivation but it also communicates to agents and buyers that you’re committed to making a sale. Photo by Andrew Neel on Unsplash 😌 Avoid Ambivalence Lack of attention to detail can greatly impact your selling success. This involves skipping the proofreading process for listings, using images or offering information. For instance listings that feature descriptions and just one unclear image are not likely to capture the interest of potential buyers. To prevent any oversights it is important to stay involved with your property listing. Make sure all the information is correct and showcase your property in a way. This attention to detail not shows your dedication but also fosters trust with prospective buyers. Photo by Hunters Race on Unsplash 😤 Manage Your Ego Your sense of self can pose a challenge, in the selling journey. Property owners often develop a bond with their land and may hold expectations influenced by tales of others success. It’s important to understand that the process of selling land doesn’t define your worth or value, as an individual, and it’s often the case that selling your land successfully requires selling at a lower price than you previously expected. Rather than fixating on a price, be receptive to feedback from the market and modify your expectations accordingly. Recognizing that the buyer plays a role in this process can aid in changing your viewpoint and directing your attention towards fulfilling their requirements instead of just enforcing your own. 💰 Understand Pricing Understanding how price works in the land market is crucial in the selling process. Sellers often think they can set their own prices but its the market that ultimately determines a property’s value. Its important to go through a process of price discovery and be realistic about how much your property can sell for based on market conditions and buyer demand. For example if you start by pricing your property and get no interest it might be worth reconsidering your approach. Changing your price based on response isn’t a sign of weakness; it’s a smart step towards making a sale. Photo by Andrew Neel on Unsplash 🧑‍🤝‍🧑 Understand The Buyer Grasping the preferences of your customers is essential, for shaping your approach to sales. Different properties appeal to buyers be it a homeowner, an investor or a builder. By identifying your audience you can customize your marketing strategies to meet their requirements effectively. If your property is suited for a family wanting to construct a house, highlight the advantages of the area such as zoning laws and nearby amenities. Knowing what drives your potential buyers can give you an advantage in negotiations and allow you to showcase your property effectively. 🛠️ Solve The Buyer’s Problem Every potential buyer encounters obstacles or worries that could hold them back from proceeding with a purchase. These obstacles might involve zoning regulations, environmental limitations or financing challenges. As a seller it’s crucial for you to recognize these possible roadblocks and help resolve them, if needed. Offering any important documentation upfront, like soil reports or septic permits, can ease buyer worries and enhance the attractiveness of your property. Buyers value openness and are more likely to move forward if they have confidence in the property’s potential without having to do all the work themselves. Photo by Olav Ahrens Røtne on Unsplash 📣 Understand Marketing Selecting the appropriate marketing channels is crucial, for effectively reaching prospective buyers. You have the option to work with a listing agent or sell directly to an investor. Both approaches come with their own advantages and disadvantages. Therefore it’s essential to make an informed decision based on the type of property you have and the prevailing market conditions. When choosing a listing agent it’s important to find someone who focuses on land sales and has knowledge of your area. An agent who is dedicated and takes initiative is more likely to help you make a sale than one who is laid back and complacent, even if they have more experience. Photo by Austin Distel on Unsplash 🔑 Conclusion To sell land you need a mix of purpose, market knowledge and smart marketing. By grasping the obstacles in the market, clarifying your goals, setting realistic expectations and prioritizing buyers needs you can handle the selling process successfully. Keep in mind that selling land goes beyond the property itself; it’s about building a connection with buyers and meeting their requirements so that both parties

Real Estate Market Fundamentals, Real Estate Market Trends

Understanding the Current Trends in North Carolina’s Housing Market

SUMMARY We’re starting to see some real warning signs in the housing data coming out of North Carolina. A lot of the downward pressure on price levels in the market has to do with the rising inventory levels of housing. As of June of this year, the inventory level of housing available for sale across the state is more than triple what it was in 2022. When you look at inventory, it’s just basic supply and demand. As supply rises and if demand stays the same, we know that eventually prices are inclined to fall. Median list prices for housing are actually declining. This is after several years where prices were rising in spite of the rising inventory. The existing inventory coming to market needs to be marked down. The listing data is a little more forward-looking; you can predict what the sales data will be in 2 or 3 months. If you want to see where this trend is headed, look at some of these rural markets in eastern North Carolina outside of Raleigh, where median list prices have declined between 3 and 7% in various counties. Despite the price declines, there are fewer transactions in the housing market statewide. The year-over-year data shows that fewer transactions were completed this year than in June of last year. Buyers just aren’t getting enough value, and this trend has a lot longer to run. The price drops are just getting started. We’re starting to see some of the weakness in the housing market spill over into the land market as well. The last 10 tracks of vacant land sold in Harnett County averaged 166 days on the market, selling at an average discount to asking price of 15.9%. Seven out of the last ten transactions were marked down significantly, with one marked down over 50%. You have approximately 12 months of inventory in the land market right now. While that doesn’t sound too bad, remember this is the prime sales season. As we move into the fall, days on the market will go way up for both land and homes. If you seasonally adjust this data, we’re probably looking at something closer to 14 to 18 months of inventory in the land market. In addition, North Carolina is seeing rising unemployment from the low in April 2023. The unemployment rate has increased by 40% in just 14 months. This is one of the most reliable indicators of market cycles. What we’re seeing is a reversal of the long-term trend in the labor market. Historically, when the unemployment rate starts to reverse direction, a recession is usually around the corner. This trend has been observed in the past two recessions. The unemployment rate peaked in 2011, which was the very bottom of the real estate market. As the unemployment rate increases, it means that many people are being laid off, losing jobs, or being relocated. There are homeowners who bought properties in the past couple of years that may now need to sell. If they do, they might find that they have little equity because they bought at high prices. This situation creates a lot of stress in the housing market that will likely continue. People will find that their equity is not in their homes but in their land. The rising inventory in the housing market is mirrored by the rising inventory in the land market. We will see a slowdown in transaction volume in the land market as buyers have less disposable income and interest rates are higher. As the inventory of housing and land rises, we are in a historical context where the value of housing is extremely high by historical standards. The median home price to income ratio is at an all-time high, which is a well-studied indicator of market cycles and housing affordability. As prices start to fall, there will be momentum because there is nothing but air under these housing numbers. The short-lived benefits of falling interest rates and artificially low rates won’t hold up for long. What drives the housing market is not interest rates, but supply and demand. When interest rates cut, it often signifies economic weakness. This market isn’t the time to be complacent. It’s essential to do your homework and stay informed about the trends in the housing market. Share this information with friends or colleagues who might benefit from it, and leave a comment if you have thoughts to share.

Buying Land

Key Lessons from Buying 89 Tracts of Land in North Carolina

Purchasing land can be a process in North Carolina. There are several factors to keep in mind, such as title disputes and environmental considerations. It’s crucial to gather information before proceeding with a purchase. In this article, we’ll delve into the insights gained from acquiring parcels of land in this scenic state. 📝 Title Issues When it comes to purchasing land one of the hurdles encountered is navigating through title problems. In North Carolina properties often have a history of being handed down through families over the years resulting in complexities with ownership records. When someone dies without a will or proper estate planning it can lead to a complicated situation regarding ownership rights. Relatives might have views on how the property should be passed down causing disagreements that can delay the selling process. To overcome these obstacles it’s important to seek guidance from a lawyer. They can provide clarity on ownership matters and address title disputes ensuring a more seamless buying process. Photo by Scott Graham on Unsplash 🌱 Importance of Soil Quality When buying land, the quality is crucial, especially if you’re considering building a house on your land at any time in the future. In North Carolina, numerous properties necessitate a septic system for waste management. This underscores the importance of soil drainage in such areas. If a property has soil drainage it might not be suitable for septic systems which could restrict your building choices. Moreover certain regions have flood plains and wetlands that come with their own rules and limitations. When evaluating a piece of land it’s crucial to grasp its soil quality. Tap into resources such as the state environmental quality department and the Army Corps of Engineers to examine the soil state and make well informed choices. 📏 The Need for Surveys Although surveys are suggested when purchasing land they can come with a price tag. The cost of a survey has soared making it a considerable financial burden for buyers. Nonetheless surveys offer insights, into property boundaries and current attributes. Rather than getting a survey for each piece of land you can explore county records to find survey maps. These maps provide an overview of boundaries and can assist you in steering clear of conflicts with neighbors. If you’re looking to cut down on expenses, enlisting a local pro to pinpoint property corners could be a budget friendly choice. This allows you to explore the land and verify the boundaries without shelling out for an extensive survey. Photo by Étienne Beauregard-Riverin on Unsplash 🏞️ Hidden Junk and Land Issues Before buying land it’s important to thoroughly inspect the property for any hidden problems like debris left behind by previous owners or neighbors. Buyers often discover unexpected items such as garbage, abandoned vehicles or even hazardous substances on their newly purchased land. Tidying up these spills can be both expensive and time consuming. Depending on how much clutter there is you may have to bring in experts for the cleanup. This could end up costing you thousands of dollars. Taking the initiative to check out the property beforehand can help you avoid expenses and legal responsibilities. Keep an eye out for any dumping activities and be wary of the potential issues that could come with the land. Photo by Robert Thiemann on Unsplash 🌊 Understanding Flood Plains When purchasing land it’s important to take into account the presence of flood plains. Not all flood zones are created equal some regions come with building restrictions that must be followed. Knowing the classification of the flood plain on your property can assist you in making plans. For example areas prone to flooding may necessitate raised foundations leading to higher construction expenses. On the hand land situated in a flood zone usually comes with limitations offering greater freedom when it comes to construction. Before making a purchase its important to review the flood plain maps and regulations to prevent any unexpected expenses in the future. Photo by Chris Lawton on Unsplash 🔍 Environmental Regulations Apart from flood zones environmental rules can have an influence, on your land acquisition. Areas that have wetlands must adhere to federal guidelines that specify the permitted activities on the property. Before purchasing any real estate it’s important to understand the rules in your area. You can use resources such, as the Fish and Game Wetlands Mapper to learn about the wetlands present in your location. Familiarizing yourself with the rules can help you steer clear of problems and make sure your property plans comply with regulations. Photo by Chris Stenger on Unsplash 🚶‍♂️ Always Walk the Property Before buying a property it’s crucial to take a stroll around the land. This gives you an opportunity to gauge the terrain check its state and spot any problems that might arise. While this step is often neglected it can save you from headaches down the road. While you’re there, take note of the landscape, current buildings and any indications of littering. This encounter will provide insight into your purchase and assist you in making a choice. Photo by Poul Cariov on Unsplash 💼 Work With The Right Professionals During the purchasing journey feel free to reach out for assistance. Whether you need guidance from a property lawyer, engage a surveyor or collaborate with a real estate professional having experts on your team can simplify the process and offer valuable advice. Seeking advice can assist you in dealing with title disputes comprehending laws and confirming that you’re making a wise financial decision. 🔑 Conclusion Purchasing property in North Carolina can be a fulfilling endeavor. However it also presents its fair share of obstacles. By grasping the aspects concerning ownership, land quality, surveys and environmental rules you can make wise choices and steer clear of expensive errors. Make sure to explore the area consult experts when necessary and consistently conduct your research. By following a plan you can effectively handle the intricacies of purchasing land and bring your aspirations to life. Photo by Point3D

Buying Land

Land Buying Mistakes: A Comprehensive Guide

Purchasing land can be an exhilarating experience yet it also brings its own set of challenges. This guide will delve into the aspects of research that every land buyer should be mindful of to steer clear of expensive blunders and guarantee a smooth transaction. 🏡 Property Value When considering a plot of land it’s crucial to assess its value right from the start. Ensuring you’re not paying too much is key. To gauge the property’s true value consult with three or more appraisers or land brokers who have expertise in the region. Their expertise will provide you with a well rounded understanding. Photo by Scott Graham on Unsplash But here’s the catch; size doesn’t always equate to value in real estate. For example a flat and pristine two acre plot may hold more worth than a rugged twelve acre parcel. Therefore it’s crucial to conduct your research. Explore sales data on websites such as Zillow concentrating on lots that have been sold within the past six months. How to Compare Values Check sold listings for similar properties. Compare and contrast the features of sold properties: Is it level? Does it have good soil? Take note of the neighborhood—location matters! 🚪 Access Next up is access. Having access to your property is important. If your land is located on a road you’re usually in the clear. However if it’s on a private road or farm road things could get complicated. Make sure there’s an easement that permits you to reach your property. Don’t assume that you’re all set just because there’s a street sign. Photo by Denys Nevozhai on Unsplash To confirm access, obtain the deed of the property and look for any survey maps. If there isn’t a defined legal description for access it’s a significant warning sign. You may have to discuss terms with neighbors or sort out the paperwork before proceeding with the purchase. 🌱 Soil & Septic Before purchasing land that requires a septic system it’s essential to conduct a preliminary soil evaluation. This step is more than a requirement; it’s crucial for assessing the feasibility of installing a system. Additionally a soil analysis can reveal the presence of wetlands on the property potentially impacting your construction plans. Key Points to Consider Make sure the soil can support a septic system. Check for setbacks from neighboring wells; they can limit where you place your septic. Consider the potential for subdividing the land in the future. 🌊 Flood Zone & Wetlands When buying land it’s crucial to grasp the significance of flood zones and wetlands. You can check FEMA maps to see if your property is located in a flood zone. It’s wise to consult the floodplain administrator regarding flood elevations and freeboard regulations. Being aware of these specifics can help you save a considerable amount of money during the construction process. Wetlands Considerations Not all wetlands are regulated the same way. When wetlands are linked to a body of water you might need to engage with the Army Corps of Engineers. In other cases you’ll usually interact with your states environmental agency. Get a wetlands delineation from a soil scientist for clarity. Always double-check the accuracy of wetlands maps; they can be outdated. 🏗️ Zoning Exploring zoning regulations can be quite complex. Each parcel of land is assigned a zoning designation that determines its allowed uses. It’s important to review the zoning regulations of the county to ensure that your planned use of the land is in accordance with the permitted activities for that specific zoning category. Photo by British Library on Unsplash Important Zoning Details Check the table of permitted uses for your zoning class. Understand the setbacks required for your property. Look for any restrictive covenants that might affect your plans. Keep in mind that zoning regulations cover not what you can construct but also the proximity of your building to property boundaries, bodies of water and wetlands. Consider all these elements carefully to ensure you have room to create your ideal house. 🔌 Utilities When buying land it’s important to consider utilities. You should find out what’s already there and what you might need to install. Are you dealing with a septic system or do you have access to municipal sewer and water? If the latter is an option make sure to check how far away the connections are. You don’t want to end up having to dig a trench to link your property to the water supply. Photo by GraphiDA on Unsplash Additionally, it’s important not to assume that electricity is readily available. Take the time to locate the nearest power pole. If it’s distance away you may encounter expenses in getting electricity to your property. Also consider internet connectivity! Rural areas often have limited options for good internet service. If you intend to work from home research service providers thoroughly. Key Utility Considerations Identify the type of utilities available: well/septic vs. public systems. Locate the nearest utility connections and assess costs for extending them. Check internet availability and service quality in the area. ⚠️ Red Flags Every property has its unique features but certain problems can be cause for alarm. Before making a purchase it’s wise to contact offices. Inquire about any potential issues or concerns related to the property. These may involve zoning disputes, environmental hazards or outstanding permits. Photo by Nathan Cima on Unsplash Take the initiative. Often the details aren’t easily accessible on the web and you wouldn’t want to uncover a problem, later on. Consider it a measure to prevent future hassles. What to Ask About Inquire about any expired permits or unresolved issues. Ask about zoning classifications and restrictions. Check for any environmental concerns that could affect your plans. 🏞️ Site Inspection Exploring the land in person is essential! Depending on maps or pictures won’t cut it. Put on some boots and inspect the property firsthand. Use a GPS application to see your borders clearly and plan your visit after rainfall. You might discover things that

Get In Touch