Profile picture for pvturakhia

When will the markets get any better?

I own a block of land on Street road, Bensalem Pennsylvania. Probably around 2007 i was an offer for 500k for the plot, now however in today's market i am barely fetching 200k. The road is highly commercial very high traffic count. Close to the mall and racetrack. But now all the plots on the street are for sale up for lease etc etc. I dont know what to do, nobody wants my parcel. Any suggestion?
  • September 09 2011 - Bensalem
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Answers (4)

Profile picture for the_country_hick
I would not expect prices to rise any time soon. To see why look at the 2 links below.

This shows how a bubble in prices formed and how bubbles normally die.
Do you know what the housing bubble really looks like? ... - Zillow Real Estate Advice

Even the federal reserve knows that property prices are to high and must fall.
The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas

We may see prices improve after 2014 but that does not mean the high prices of the past will return.
  • September 09 2011
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Profile picture for Sharon Lewis
I agree, ask a local commercial realtor for an evaluation of the property or get it professionally appraised to discover the current value of your property.There are areas of the country that have stabalized including some areas in Florida, California and in your state. We are starting to see prices come up again, in certain areas. Very positive signs.
  • September 09 2011
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Based on the info you should consult with a local commercial real estate expert to see what his professional opinion is.
  • September 09 2011
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Depending on the market area some areas have stabalized based on nthe supply and demand of that area. Areas with an abundance of inventory could still take months or even years.
  • September 09 2011
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