unimproved property

Growing hunger for raw land: Unimproved Property is in demand!

inman

Unimproved property can be cheap, but financing poses challenges

As 2009 limped to a close, down in suburban Miami beleaguered homebuilder Lennar Corp. sold a 9-acre parcel of raw land for $2.3 million. The property, located in the city of Kendall, was, according to press reports, originally acquired in 2003 for $15 million, but I assume Lennar executives were just happy to get the property off the company’s corporate books, where it sat as a non-revenue-producing asset.

The deal was notable because the market for raw land has been relatively quiet over the past three years, despite best efforts to make something happen

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Pitfalls for Buying Unimproved Property or Land. Buyer Beware!

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