Richmond, California (EastBayDaily) — Biding your time to invest in equestrian property? This might be your year to take the plunge.
After a sluggish 2013, horse property real estate agents are predicting a surge in property availability, lower prices and more buyers in the year ahead.
In a survey commissioned by HorseProperties.net, more than 350 agents from across the country weighed in with their experience with the horse property market in 2013 and their expectations for 2014.
“Agents reported an excess of land available right now, making it an excellent time to buy. We’re seeing an increase in land sale activity and lower prices, especially on the larger properties. In some areas, land that sold in the $1 million range is now $600,000-800,000,” said Barbara Greenhill, founder of HorseProperties.net.
In fact, 91 percent of agents surveyed said 2014 is a good time to buy acreage as land prices are expected to rise with home prices as the year progresses.
“Land prices definitely follow home prices, which surged a lot in certain areas in 2013,” said Greenhill.
Other findings from the survey include: 45 percent said it was “easy” for buyers get a mortgage for rural properties. 40 percent reported that properties are on the market between 6 and 12 months. 63 percent predicted more sales in 2014. 52 percent revealed their buyers paid in cash. 27 percent said foreign buyers are investing in land.
Horseproperties.net is a unique website created with the horse enthusiast in mind. We offer the discriminating buyer a place to view and compare properties all over the United States especially suited to accommodate horses, and of course, their owners.