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Vermaland, LLC. Sees Land Sale Market Improvements and Predicts Demand Increases Throughout the Year
Date:2/27/2013

Phoenix, Arizona (PRWEB) February 27, 2013

Vermaland LLC, a land banking and land development company that currently has the largest holdings of 50-1,200 acre parcels in metro Phoenix, has seen continued improvements in the land sale market and predicts that demand will continue to be strong throughout 2013 and beyond.

Land sale data tracked by Vermaland indicates that the price per acre for raw law in the Greater Phoenix region continued to increase throughout 2012. So far in 2013, prices and land sales are also showing positive momentum, Vermaland data shows.

In addition, Arizona State University’s W. P. Carey School of Business recently released a report finding the median price of a metro Phoenix home climbed nearly 34 percent in 2012. As a response to stronger demand, homebuilders and investors have also been buying undeveloped land in an effort to prepare for a market turnaround.

“We are seeing an improving market and expect it to continue this year and be very strong next year,” notes Vermaland CEO Kuldip Verma, a veteran entrepreneur in Phoenix, who has more than 20 years of experience in the Arizona real estate market. “We’ve seen several cycles in this market and know good things are ahead.”

Verma said increased homebuilding permits, shallow inventory and strong median home prices indicate that the demand for raw land will continue to be strong and portends a positive market. “We are seeing more activity than we have in quite some time,” Verma said, adding raw land sales follow a similar, methodical pick-up within a year after the residential real estate sector records significant growth.

Currently, finished residential lots are seeing double their value in comparison to 2011, with most foreclosures being flushed out. Raw land activity has started, and is becoming aggressive, Verma noted. Raw land is currently selling for $.10 to the dollar, which is a much higher drop than th
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