ARE YOU TALKING TO THE RIGHT AGENT ABOUT YOUR LAND HOLDINGS?
Knowledge, experience, and insight is what you need in today’s market as development booms in Las Vegas.
Don’t be left in the dust; turn your non-preforming asset into cash flow today!
Land sale prices continue to increase in Las Vegas as developers look to expand their market share. The Las Vegas Housing Market is up +/- 10.6% from July of 2016, and +/- 25.6% over-all in the last three years, according to Zillow.com. The median sale price for a single family residence in the valley right now is around +/- $260,000. With inventory of existing product at a low, finding new ground to develop on is at a premium. This means land is in demand as home builders secure their market share for future projects.
Recognizing this trend in land acquisitions, Joshua “Tree” Barker’s expertise and knowledge lead him to track a property totaling +/-31.42 Acres, which was entitled for +/- 220 homes at the time. Josh knew the many challenging aspects presented in this deal, from easements to new entitlements, to off-site improvements and waterline agreements…all which few buyers had the capability to close such a deal. Pulling from his contacts, Josh brought this great opportunity to the largest home builder in the country, Lennar. Lennar, one of the most ground breaking home builders in Las Vegas, has over 21 projects going in the Las Vegas Valley right now. One of their closest projects, Boulder Ranch II, is a gated community starting around $253,000 for a 3 bed, 2.5 bath home that is close to being sold out. (https://www.lennar.com/new-homes/nevada/las-vegas/las-vegas/boulder-ranch-ii)
Previously called Encore @ Hollywood, Lennar closed December 18th, 2017 on the new +/-224 lot project off Hollywood and Vegas Valley Dr. Joshua “Tree” Barker with Fortis Commercial Advisors put seller (Acacia Credit Fund 10-A LLC ) and buyer (Lennar) together, representing Lennar in the off market purchase. By generating the right buyer for this acquisition, the deal was closed in two months with no hang-ups. This +/-224 lot entitlement will bring huge value to Lennar as housing inventors slim and home prices steadily increase.
Owners can waste valuable time dealing with the wrong buyer as land contracts could tie owners down for months on end. There is huge value in working with the right agent that is experienced and can bring qualified, educated buyers to the table. Getting the most value for your land holdings is about timing. Now is the time to ask what you can get for your property! Send us an email to get the latest market analysis. We can also give you a detailed “BPO” (Broker Price Opinion) analysis, which will place select buyers directly with your property value.
As a Senior Advisor at Fortis Commercial Real Estate, Josh provides services that range from property leasing, development, single tenant retail, office investment sales, and land acquisitions. He is the broker you can count on to guide you through the transaction process, provide professional advice based on your needs, current trends and market analysis, negotiate contract terms, and monitoring all the details of your deal. Working with several national tenants, REITS, family offices, and local business owners, Josh’s clients range from single property owners to large holding companies. If there is interest in finding out what your property is worth today please inquire by following the link below. Don’t waste your time with agents that aren’t working with the right buyer pool already. Reach out today.
~We bring value from off market opportunities to investors~
Looking to Buy or Sell?: fortis.vegas/contact-us/