Field Guide to Land Investment
(Updated November 2007)
While land investment may not provide the instant gratification of a home purchase, this sort of venture can be quite lucrative. Land investors have different needs and concerns than those of typical real estate investors - zoning, planning, environmental issues are just a few of the challenges they must face. This Field Guide will help those who wish to take on this interesting branch of the real estate industry. (M. Martinez, Library Manager)
Contents:
Investing Basics | Land Appraisal | Environmental Considerations | Useful Websites | Books, eBooks & Other Resources
Major Use of Land in 2002
Grassland pasture & range: 587 million acres (25.9% of land area)
Forest use: 651 million acres (28.8% of land area)
Parks and wildlife: 297 million acres (131%)
Urban land: 60 million acres (2.6%)
Misc. (deserts, wetlands, barren land): 235 million acres (10%)
Source: Major Uses of Land in the United States, (U.S. Dept. of Agriculture, May 2006).
Direct sales
Allocation
Abstraction
Anticipated use or development
Capitalization of ground rent
Land residual procedure
Source: What is land?, (Pinal County Assessor).
Investing Basics
Save for retirement by bying land?, (Kiplinger's Personal Finance, May 2007)
'It's the only thing that lasts'; for some rich Americans, accumulating land is like collecting art and autos, (Wall Street Journal, Apr. 25, 2007)
Investing in land, (University Federal Credit Union, 2007)
The benefits of land as a real estate investment, (The Spectrus Group, 2007).
The rush to invest in land, (Wall Street Journal, July 22, 2006). Q
Land Appraisal
An appraisal tool for valuing forest lands, (Journal of the American Society of Farm Managers and Rural Appraisers, 2006)
Land value and purchase, (Iowa State University).
An empirical evaluation of alternative land valuation models, (Lincoln Institute of Land Policy, 2002).
Valuation of partial interests in land, (USDA).
Environmental Considerations
Urban squeeze builds fresh interest in redeveloping contaminated land, (Business Insurance, Dec. 3, 2007) Q
Enviros oppose Natomas plan, (Sacramento Business Journal, Jan. 14, 2005).
Brownfields offer optimism as options dissipate, (Puget Sound Business Journal, Dec. 10, 2004).
Milwaukee completes valley cleanup; will begin land sales, (Greater Milwaukee Business Journal, Nov. 29, 2004).
Residential community developers put focus on natural amenities, (Houston Business Journal, Nov. 19, 2004).
Useful Websites
REALTORS® Land Institute, (www.rliland.com).
Landowners information, (U.S. Environmental Protection Agency).
American Farm Bureau, (www.fb.com).
USDA Forest Service, (www.fs.fed.us).
eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Portland edge, (Washington DC: Portland State University, 2004). HT 334 Oz1
Innovator's solution: creating and sustaining successful growth, (Boston, MA: Harvard Business School Press, 2003). HF 5500 C46
Be a successful residential land developer, (New York, NY: McGraw Hill, 2005). NAC 1800 W86
Land wars: the politics of property, (Boulder, CO: Lynn Riener Publishers, 2003)NAC 1565 F84.
Land valuation, (Chicago, IL: The Appraisal Institute, 2001). HD 1387 B69
The new spatial order? Technology and urban development, (Cambridge, MA: Lincoln Institute of Land Policy, 2001). NAC 1609 L63ns
Land development, (Washington, DC: National Association of Home Builders, 1999). NAC 1800 N21 ed. 9
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to 1031 Exchanges
Field Guide to Smart Growth & Growth Management
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
