Summary
The price of a vacant housing lot has dropped to a four-year low in Clark County and thats not likely to change until home sales improve, according to a local real estate analyst.
Those bargain prices could bring residential real estate values closer to bottoming out, as more of the areas troubled subdivisions go through foreclosure, according to Roger Qualman, executive vice president of NAI Norris Beggs & Simpson commercial real estate firm in Vancouver. Thats because banks are better able to reduce the price and sell off the property than are builders who were in default on short-term construction loans, he said.See the full content of this document
Extract
Vacant Lot Prices Hit Four-Year Low
Qualman said finished lots are now selling for between $20,000 and $50,000 each in Clark County, down from between $55,000 and $6...
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