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Originally Posted by will76
thats very uncommon appreciation. VERY. Sure in some locations it happens, and if it does happen its not like it is going to do that every year either.
40 - 60% ??? so you saying it doubles in value each year ?
If you could appreciate at a rate that you cleared more then like 10% consistantly, you would be doing great. Even that is not a given, sure in the last couple years, overall things have been booming in real-estate, but if you talking land and appreciation you have to average it out over how many years you plan on keeping it, which is sounds like you guys want to hold on for a while.
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That's exactly who I can't say from Sleazy's info - suppose it all depends what price he's thinking of buying at and how competitive the market is in that area - which is going to put a demand on the pricing level of the land. Hence the reason for mentioning the possible propostion for a specific plot - if it's on a lakeside 45 mins from Winnipeg - that may suggest homes and possible reasonably high values homes with a degree of exclusivity. If there could be a deal for a bulk purchase at a pressed down price - may sound not a bad deal.
Yes.. at the moment - ie last govt stats (and there are identical to realtor market prices) for the last 12 months is averaging 40-60% for that area. Never worked it out on an annual basis, but overall the appreciation has been far more than 50% since purchasing. Just had the official stats out for new construction in that region and.. can't remember exactly, but think they are up 73% on the previous year. So, it's a kinda "boom" area - tho little chance that will decrease in the next.. say ten years. One factor not included or really showing yet (this will take four years to complete) is a new international airport nearby, so that will prob bounce all land values up even more.
Exactly - it's a matter of sitting on it for the moment and letting it increase to whatever level. Most of the landowners are doing the same and properties which may have been on the market a few years ago, have since been withdrawn. Kinda makes sense.