The Local Land Buyer Market

When the housing market gets cold across the nation and stays cold for a long time, you might be wondering: But what about land? According to our research, the value of raw land in Greenville County has been neutral in this down housing market.  There are a couple of reasons for this economic trend.  The first and the most obvious is supply. As Mark Twain once said, "they've stopped making it, at least around these parts." Also, as we all know, Upstate South Carolina has been gaining momentum in the national spotlight for first class developments such as the various Cliffs developments.  Additionally, in the same area, a developer out of Myrtle Beach, SC in Burroughs and Chapin recently purchased 1,700 acres to hold for future development.
 
Even though the local market is better than the national market at this time, some of the same things affecting the national real estate market are hurting Greenville County; one such hindrance is financing troubles.  Timber companies such as Timbervest are experiencing this. "Lending has all but disappeared" said Joel B. Shapiro, the chief executive of Timbervest. Furthermore, the rising cost of commuting has slowed the search of some buyers looking for a larger parcel on the outskirts of town. The end of 2008, with stock market troubles on the horizon, brought reluctant buyers. However, many buyers have seen a way to invest without the uncertainty and risk of the stock market. Potential prospects have widely increased since late December 2008.  Investing in land seems to be a low risk bet that many are willing to take.