The down real estate market is a plus for land conservation.
With the decline in new home construction there is a major drop in the demand by developers for land. Many developments across the country have been approved only to find that the developer cannot afford to proceed with the development in the current real estate market.
The current down market provides an unprecedented opportunity for agencies such as The Nature Conservancy and and The Trust For Public Land to buy up land for pennies on the dollar. The only problem is the fact that the same recession that has hurt the building industry has also hit the nonproffit sector. These land conservation agencies are having to turn down great deals on land due to lack of funding.
In Charlottesville, VA we have seen an example of this phenomena first hand with the possibility that the land for the propossed Biscuit Run Development may be donated as a state park. This will mark a major loss in revenue for the county. In addition it takes away land for development in the growth area opening up the possibility that other parts of the county will have to absorb that growth.
There was an informative program on NPR about the real estate market and land conservation.
Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville. Email Pam Dent.
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Copyright © 2009 by Pam Dent, all rights reserved, "The Down Market Is A Plus For Land Conservation".