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[Homestead] Land prices, a perspective

From: Gene GeRue <genegerue AT ruralize.com>
To: Homestead <homestead AT lists.ibiblio.org>
Subject: [Homestead] Land prices, a perspective
Date: Thu, 19 Apr 2007 07:05:02 -0700

In case you don't have a calculator handy, this land auction produced a per-acre price of $553,900 per acre. This is not city center commercial property. The land is desert. Flat, arid sand with a bit of scrub vegetation. No redeeming qualities but one: location.

Parcel near Desert Ridge sells for $149 million

Michael Clancy
The Arizona Republic
Apr. 17, 2007 11:15 AM

A 269-acre parcel near Desert Ridge Marketplace sold today for a record price in an Arizona State Land Department Auction.

It sold for the appraised price of $149 million.

The buyer was a company called Desert Ridge Holdings, which plans to put 3,700 housing units on it.

http://www.azcentral.com/community/phoenix/articles/ 0417phxauction0417-ON.html

[Homestead] Land prices, a perspective, Gene GeRue, 04/19/2007
- Re: [Homestead] Land prices, a perspective, Don Bowen, 04/19/2007
  - Re: [Homestead] Land prices, a perspective, Gene GeRue, 04/19/2007
    - Re: [Homestead] Land prices, a perspective, Don Bowen, 04/19/2007
      - Re: [Homestead] Land prices, a perspective, Gene GeRue, 04/19/2007
- Re: [Homestead] Land prices, a perspective, VAN DELL JORDAN, 04/19/2007
- <Possible follow-up(s)>
- Re: [Homestead] Land prices, a perspective, Lisa K.V. Perry, 04/19/2007