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some thoughts from Dozer
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Dozer finally gets a piece!

There is a piece of land which I’m now in serious negotiations to buy. This land was a little off my radar as it is a bit further from the crest of the real estate wave than I like. The stumbling across it is an interesting story. If you recall the large parcel that the owner wouldn’t subdivide this was a beautiful chunk of land in an ideal location for a real estate development (located right on the inside of the crest of the development wave).

As it turned out, the owner wouldn’t subdivide the 32 parcel chunk, so this kind of put a halt to the whole thing. I was talking to a friend about the land – describing the sheer beauty of it. Later, my friend told me his wife had said that chunk of land was too expensive (at 900,000 per rai) and ‘around here’ the land should be around 600,000 per rai.

I thought that was a funny thing to say, since neither of them knew where the land was. What was it, idiot hour? (no offence meant) Location is everything here. That said, she was really hung up on this other land which she wanted us to see — so the next day her real estate friend (brokers are ubiquitous here) came to show us the land.

OK, I’ll humor them I thought. So we went with her and her agent. The agent turned out to be a really good guy, Lung Uuan, and I ended up using him as our agent. He has subsequently showed us many many parcels, but that first 10 rai chunk had a lot of things which I really liked.

Since I’m in the process of buying that chunk I’ll hold off a description until later. The thing about the land I’m looking for is I have an idea of what I’ll do with it. Then I just run the — will it work — equation. The land is priced within a narrow band depending on the area, so the 900,000 per rai land was more expensive due to being closer in to the development wave. That being said — there were really some nice aspects to the 600,000 per rai chunk. For one thing there is a pocket of expat development around there — which I expect will continue to grow. The area has a lot of hidden beauty, but hasn’t been officially ‘discovered’ yet.

Land is priced by location. Fire sales are hard to find. Over priced land is easy to find. Fairly priced land is also easy to find. For me I like to see some hidden value that isn’t reflected in the price. I’m excited about this new chunk of land and need to see about pulling the funds together.

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