LandThink Pulse: Inability to Obtain Financing is the Primary Obstacle for Land Buyers
Last month, we posed the question to our audience: From your perspective, what is the primary obstacle that prevents a land buyer from purchasing land? LandThink.com, an authoritative online resource for advice, knowledge, opinions and trends related to land, can finally announce the interesting results. Our informal online survey revealed that financing land through any of the conventional methods is believed to be the biggest hindrance to purchasing land, the same widespread sentiment that has blanketed the housing market for the last couple of years. Not surprisingly, 38.7% of respondents felt that the inability to obtain financing was the BIGGEST obstacle to buyers seriously considering a land purchase.
LandThink received a tremendous number of responses from subscribers, fans, followers and land industry professionals all across the country. The number of participants nearly doubled since LandThink launched the Pulse last May. Here’s how the June results panned out:
- 38.7% said buyers can’t obtain financing
- 27.1% said buyers think land prices are unrealistic
- 15.8% said buyers can’t find their desired land
- 13.4% said buyers were waiting for the bottom of the market
- 3.2% said buyers can’t afford property taxes and other costs
- 1.8% said buyers feel there is too much land on the market
Beginning last May, LandThink.com has asked for participation in a series of questions, the LandThink Pulse. Each month, we ask one, straightforward question, in an effort to gather interesting insight into the current land real estate market. We designed the Pulse to be fun and interesting for all our subscribers, fans and followers, while providing a “pulse” of the ever-changing land market including an industry perspective on trends, the land market, what areas are thriving or merely surviving and much more. We extend a huge “thank you” to everyone who participated, and we hope to gain even more participants in the July Pulse.
Congratulations to Candy Cargill, the winner of the $100 Amazon gift card in June! Candy is the Broker and Owner of Hill Country Real Estate in Blanco, Texas.
If your business would be interested in sponsoring next month’s August Pulse question, please contact us. Your business will receive national exposure across our entire network of sites and social media outlets.
Click here to answer the July Pulse question. All respondents will be entered to win a $100 Amazon gift card!Participate Now!
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