Still waiting for the D&G to hit me, just nothing but good news at the moment.
Finally decided to revalue the land holding on my books. Had it at $450pm2, have reviewed all land sales for the last year and although infrequent (little available) the settled sites just keep going higher and higher.
Have changed my book value to $496pm2.
Just talked to an agent who's in the process of selling an almost identical land holding (mine is 8% larger) to feel him out. He's got it listed for $590-650pm2 (which I consider way too high). 2 out of the 5 blocks are already under contract, and he wasn't interested in talking about $530pm2. Don't think he'll get what he's asking - but even his rejected price is another 6% above what I've reset mine at!
Now obviously the land is going to drop 50% in value this year so I guess I'll just have to enjoy this feeling while it lasts!
Finally decided to revalue the land holding on my books. Had it at $450pm2, have reviewed all land sales for the last year and although infrequent (little available) the settled sites just keep going higher and higher.
Have changed my book value to $496pm2.
Just talked to an agent who's in the process of selling an almost identical land holding (mine is 8% larger) to feel him out. He's got it listed for $590-650pm2 (which I consider way too high). 2 out of the 5 blocks are already under contract, and he wasn't interested in talking about $530pm2. Don't think he'll get what he's asking - but even his rejected price is another 6% above what I've reset mine at!
Now obviously the land is going to drop 50% in value this year so I guess I'll just have to enjoy this feeling while it lasts!