[MotoSook]

So I'm looking at a property and just wondering how far from bottom we are.

Say I am looking at a large property that I think may be worth 2x its current market value when the market goes back to being healthy.

A 2500 sf home <10 yrs old on a 1/4 acres in a development in the area right now probably sells for 230K to 275K. The property I'm looking at is less than 2 miles for the nearest development, but it's what one would consider rural due to the fact that developments have encroached into the rural area.

The property is 15 acres plus and has a 4 bdrm house with indoor pool. It has a 60'x100' steel barn with a cement floor and pond. There's plenty of space for anything.

Comps in the area are difficult to find because it is unique. But I think the place is worth at least twice that of one of the homes in the nearest development.

I can't think of any reason why the property would be worth less than 500K at anytime with the amount of land and its proximity to the latest developments. Some of the developments within 5 miles are 500-1000K homes.

The house on the property is 25 rs old, but it's not run down and has seen some updates throughout the yrs. It's definitely not an old farm house. Someone built their dream house out in the sticks 25 years ago.

I think it would make a good purchase, and if the property loses value in the next 1-2 yrs it'll be less than 100k of value.

But I think we're pretty close to bottom and the property may be pretty safe since it's so much property.

Anyone see something I'm missing? The place is 10 minutes from where we are now!