Cost Appraoch Insanity!

[xmtpedprl]

You believe yourself able to figure it out, but I'm not as certain of that as you are, period, end of story.

As for me being deaf? Nonsense, that's you being arrogant. As am I. But do not mistake me for not listening, ever.

Dave...

 

[PropertyEconomics]

You expect more than speculation form folks from other parts of the country? I will speculate this, that the owners of the lot will not give it away for $0 or sell for anything close to $0. Remember you have to have willing sellers as well as willing buyers in any market. I dare say that the example I posted above is not terribly different than your situation on a macro level, and the current values with demand near 0 is roughly half what it was 8-9 years ago, when the demand began to head downward, and not nearly approaching 0, although the number of sales is near 0.

Nice Post Mr Rex ... .
Digging in the courthouse for records, calling realtors, searching historical documents, contacting market participants, all are means of gathering information to make an informed conclusion as to the value of something.
Nice to know there are others in the profession not afraid to dig for the data when its necessary. I assume you were paid to dig and not make up a story. Good job earning your money. Your daddy would be proud.

 

[Kevin Mc]

Digging in the courthouse for records, calling realtors, searching historical documents, contacting market participants, all are means of gathering information to make an informed conclusion as to the value of something

Imagine that.......

 

[Mr Rex]

I think maybe Dave is too entrenched in the residential side and is thinking only in terms of homeowner/buyers, in and out builders etc in his analysis. Even lay people with no background in RE recognize that you don't give away something with value. Even when the RE taxes etc become onerous and there is no current market demand, they apply DCF analysis to their property, even when they don't know its called DCF.

In any case, let me know when they start giving away land in your area or any you hear of. I'm a willing buyer if they are willing to sell at those prices. I will bring my HP12C to the table and run the numbers one last time.

 

[xmtpedprl]

Yes, imagine that. None of which could possibly apply in my situation, but sure, imagine away.

And thanks for the hijacking of what was up until recently a fine thread.

Dave..

 

[DTB]

I think maybe Dave is too entrenched in the residential side and is thinking only in terms of homeowner/buyers, in and out builders etc in his analysis. Even lay people with no background in RE recognize that you don't give away something with value. Even when the RE taxes etc become onerous and there is no current market demand, they apply DCF analysis to their property, even when they don't know its called DCF.

In any case, let me know when they start giving away land in your area or any you hear of. I'm a willing buyer if they are willing to sell at those prices. I will bring my HP12C to the table and run the numbers one last time.

How many you want in Chicago? Better bring you avatar and their friends though. These boyzz don't give a warning with banjo music.

 

[Mr Rex]

How many you want in Chicago? Better bring you avatar and their friends though. These boyzz don't give a warning with banjo music.

No different than the area in my example, I assure you, other than the fact the areas are bigger in Chi town. I don't visit with out packing:new_2gunsfiring_v1: and do often carry my avatar friends. We could compare per capita murders I guess.

 

[Kevin Mc]

Dave

I hijacked nothing. I agreed with a post. I'm not a big fan of specualtion. Now about all that free land in Chi-town, count me in.

 

[Hamlet]

Methinks the lady doth protest too much!

I’m in on that free land too…

 

[xmtpedprl]

For God's sake, I write a thread to express my concern, admit I was confounded, and then you guys have to act the role again.

It just never ends.

Dave...