tucson lots

Purchasing Un-subdivided or Un-restricted Vacant Land

I’m often asked whether a particular vacant parcel has any deed restrictions. I get questions regarding building size or type requirements, time frames for building, height restrictions, areas on the lot that can only be used for building, or must remain unused, etc. When it comes down to it, if the property is located in a subdivision, there will typically be a set of parameters that one must follow. 
 

CC&R’s and Design Guidelines for a Subdivision

 
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Lot and Land Loans are Still Plentiful in Tucson

Probably the most frequently asked question I receive on a regular basis from land buyers as well as other Realtors is, “Can you finance the purchase of land like you do for a home?” Many people still think that lenders are no longer financing lot and land purchases and that the only way to buy vacant land is by paying cash or receiving seller carry back financing. This was mostly true during the real estate recession years of 2007-2012 when banks and institutional lenders were weary of the risks associated with land purchases that was fueled by the large numbers of people walking away from lot loans and giving their parcels back to the lenders. Of course, probably the main reason this was so prevalent was that lenders encouraged buyers to take 80-100% loans, that they couldn’t actually afford or possibly be able to repay. With no “skin in the game” it was easy for buyers to give these properties back to their lender. But that was then and this is now.

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8 of the Best Hikes to Explore Tucson Terrain

One of the most popular ways to explore Tucson is by hiking in and around the city. Although residents and visitors may not agree on which hike is the best, here’s a list of the best hikes to explore Tucson terrain. After all, Tucson has a very diverse landscape, ranging from desert to mountains.
 

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Ready to Build your Custom Home? It's time for a Construction Loan

You’ve decided to build your dream home and now it’s time to pursue a construction loan.
 
Whether you own you lot or need to purchase a lot, Prime Lending can help. If you already own your lot, we can use lot equity and apply it to the down payment requirement on your construction loan. For example, if your lot value is $100,000 and you owe $40,000, you will have lot equity of $60,000 to apply to the down payment requirement. The down payment on a primary home is as little as 10% on the first home and 20% on a second one.
 
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Determining A Building Site on Vacant Land

When I walk through a vacant parcel of land for the first time, like most people, I am impressed by the ease and ambiance of the entryway, the vegetation, the topography, the views and the physical attributes of the parcel and its surroundings. As my clients may continue to concentrate on these, I begin to shift myfocus to identifying the potential buildable areas and thus the actual building location(s) on the site. If the parcel is in a subdivision, the answer will come more quickly as we can look to the subdivision’s recorded, final plat for information.

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Reading Topography

As I discussed in my last blog, reading topography can be a bit of an art. Those who deal with it regularly gain the capability to see the contours literally come into focus as a three dimensional pattern. For example, I can look at a topographic map and tell whether the contours are forming the side of a hill or defining the sides of a wash.

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The Allure of Land

I have been involved in land sales as a Real Estate Broker since 1983, when from an office in Chicago, I became a General Partner in a land syndicate that purchased 40 acres of desert land in a remote, undeveloped area of northwest Tucson. From that day to this, I recognized an uncanny desire on many investors’ parts to own land versus other forms of real estate. I call it the allure of land.

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