Metro Denver’s land market has been challenged by the financial problems of traditional land buyers such as homebuilders and commercial real estate developers.
Reluctant landowners such as banks that have taken back property through foreclosure, as well as large homebuilders stuck with too much land in a soft housing market, are motivated to sell this year. Land prices are down, while discounts on those prices are up.
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Source: Denver Business Journal
Link: http://denver.bizjournals.com/denver/stories/2009/01/19/story8.html?surround=etf
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