Agricultural Land For Sale in West Virginia Holds Steady
Article by Brad Wozny
Media reports out of West Virginia suggest that farm real estate in that region of the country is holding steady.
According to the U.S. National Statistics Service recent findings, real estate values across the US increased between 2005 and 2006. Farm real estate value, which takes into consideration all buildings as well as all land on farms, also rose across the nation as a whole. In January 2006, agricultural real estate values were, on average, ,900 per acre, which is an increase of 15.2% over one year.
This is a record increase. In West Virginia, real estate values for farm lands increased even more than the national average.
In fact, farm value in the region was ,900, which is an unprecedented 21% increase over the 2005 value. Of all the eastern states, West Virginia showed the largest increases in real estate values. Around the same time, West Virginia real estate was inexpensive compared to the rest of the country.
Across West Virginia, real estate sales averaged only ,150 per undeveloped acre. While this is a 10.3% increase over 2005 prices, it still does represent a good bargain when compared with costs in other states.For real estate investors, the U.S. National Statistics Service findings are good news.
Those interested in agricultural land for sale to purchase large parcels and develop themselves can now rest easy, knowing that West Virginia offers a very good bargain when compared with other states.
The slight increase in values is great for those who already have bought land in the area and hope to offer it for sale soon.
However, the time to develop in West Virginia commonly takes 3-5 years after you receive zoning approvals, and begin bulldozing for a road, adding utilities, pipes, etc.
For homebuyers or second-home owners, they?re better off purchasing a lot in a project that?s at least half developed to receive great value on their real estate.
If you have not yet purchased West Virginia land, now is the time to consider doing so. With prices rising but still relatively low, this is a great time to buy.
The fact that land in the state is within an 8 hours? drive from more than Half the population of the United States, and is growing faster than average can mean good profits down the line.
About the Author
Brad Wozny is a real estate investor and syndicator, often publishing helpful and free real estate investing articles and tips. To learn more about excellent West Virginia development land for sale visit one of its premiere and estate-like projects http://www.MyWillowWoodAcres.com
Source: http://eboden.org/?p=12725
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