Insights from a Veteran Land Expert
MacRo, Ltd. has specialized in land since the company’s inception. Over this 25 year period the land market has experienced several economic cycles; concurrently the rules governing land use, zoning, subdivision and development have also been in flux.
In this constantly changing environment, the question—“What should I do with my property?”—can only be answered at any single point in time.
MacRo has reported on and tracked the decline in land values from their peak in 2007 in previous MacRo Report editions. Currently, however, the land market appears to be just past the low point in the current economic cycle, with prices stabilizing over the past few years.
What’s more, prices are poised to increase, likely at modest rates, over the near term. Price stabilization has brought optimism back to the land market and is one factor that’s driving an increase in MacRo’s subdivision and development consulting business.
Currently, I am providing subdivision and development management services on multiple properties. Contrast this with 2010, when only one of my clients was moving forward in this arena, and you can see evidence of an upswing.
That said, subdivision and development isn’t always the right fit for every property.
I have several clients that own property with development potential that have determined that selling their property “as is” is their best option and other clients that are holding their property off market until the timing is right for them.
The key for the landowner is to understand what options are available within the context of current market trends and then match this information with a strategic plan to maximize their property’s value and achieve their unique goals.
With almost 30 years of mid-Maryland land market experience, we at MacRo are tuned into the diverse and complex factors that a property owner should consider when deciding how to best accomplish their goals for a given property.
If you are debating what to do with your land, please contact me at 301-698-9696, ext. 203, and I’ll be happy to provide a no-cost review of the factors that will help you make the best possible decision.
“Land: What to do and When!” Comment
My husband is considering having some of his land divided into sub-divisions, mostly because it’s so large. It used to hold horses, but we aren’t keeping any there anymore and want to sell it, so as you said, we’re still debating between selling “as-is” or dividing it up. We’ll take your advice and look into talking to a professional contractor about what will give us the greatest value for the land.