I am in talks with a seller whose property (15AC) looks perfect for development (prime location) and is zoned for multifamily. I noticed builder sentiment has been dropping and am curious if you guys are seeing developers holding out for the election or a major real estate correction. Wondering if its a bad time to lock up a property for development. I have a couple real estate buddies (mainly do SFRs) telling me smart money is holding out for a doom and gloom scenario, but was curious to see what you all have been seeing.
I’m sure some of this probably has to do with the market, the local politics, the economy, etc… but it wouldn’t surprise me if some people are holding off on any big decisions until after the election.
Have you talked to any national builders in your market to see what they want to buy and if they’re ready to move now?
It’s easy to jump to conclusions based on hearsay or even a single conversation with a single person in a different market than you, but you won’t really know until you talk to the actual decision-makers who are likely to buy from you in the market where you’re working.
1 Like
You make some good points. And talking to local builders is definitely on the to-do list. I may as well get that intel directly from the horse’s mouth and maybe start to develop relationships with some of them.
1 Like