Become a developer in the Phoenix, AZ market. Can lots and subdivisions really be bought cheaply currently?

I am looking to develop land in Phoenix metro area. However, it would help to gain insight from other developers on how difficult this market is to gain entry into. I want to tie up some land until conditions are more favorable to become development.
In Buying Property - Asked by Valleywide G. - May 20, 2009
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Robert S.
Saint George, UT

I have owned 35 acres in the Eloy area, and also a partner in the Sierra Vista development in the same area. This is a 1000 acre community that has been approved by the city of Eloy and is the designated 'ground zero' for the future growth of that area. This also includes 220 acres of prime frontage along Sunland Gin Road off I-10 and I-8. We have seen the value of the land go from 15k up to 54k and back to where it started. In short, yes this is the time to buy land and position yourself for the near futures growth.
Bob 435-668-3039

May 20, 2009
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Paul S.
Glendora, CA

When the media keeps talking about the sky falling and they focus on how bad real estate is it is for sure time to buy. You never make money buying at the high and selling at the low. The media, what a wonderful barometer. Go for it but don't forget the demographics.

May 20, 2009
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