There are four things that make a property sell. Price, terms, location (use as well) and condition and those four are affected by supply and demand. If there is low demand for your type of property then the price will need to be lower than if there was high demand. The main ingredient is the price. It is affected by the other factors. If money is tight (terms) then cash is king. Cash usually comes with a discount (price). You must identify what factors are causing it not to sell? If you can change a factor, i.e. improve the condition, you may make it more desireable resulting in a higher price. You have land. You can't change the location and you probably can't change the condition? You might be able to change the terms (although doubtful) which leaves you with price (it almost always does). Ultimately you price will be determined by supply and demand. If the demad for the use of your land is low you price will be low relative to the price if the demand was high.
Jul 3, 2009