The Real Pro Realty Blog
Let your horse farm babysit your investmentPress Release If you think you can't afford that little horse farm in the country... just wait a few years. I've been watching raw land prices in the "central crescent" in North Carolina. It runs from just east of Clayton to west of Clemmons on I-40 and west of Gastonia off I-85. That "central crescent" houses the greatest percentage of population and has the largest economic engine in our state. Raw land prices continue to escalate at a rate of 3-8% per year. The closer the land is located to major population centers or public utilities the more likely the increase in value. So, my theory of investing in land is as follows: When starting your land study, keep several things in mind. Raw land can have hidden charms like zoning or lack of it, septic issues or questionable neighbor uses. On the other hand, the main goal of neighborhood restrictions is security and to help maintain the status quo. It is a great idea for neighbors wanting to maintain value, but maybe not the best place to put "investment" dollars. Real estate investments make their greatest return when there is a change in use, i.e., farm to residential neighborhood, or residential to commercial. Most of all...buy land! It's a great feeling to walk outside in the morning and know it's yours! And when you sell. Above press release published in the NC Horse Council Newsletter and the NC Farm Bureau Magazine on April 18, 2006. Contact: Colin MacNair |