ASSESSING
DIFFICULT
SITES
by Donald Brandes
Bargain sites can make
ideal development projects,
but do your homework
before you buy
Large developers are getting larger and
small (under 99 lots per year) developers
are getting smaller, according
to a recent survey of 2,300 builders
conducted by the National Association
of Homebuilders. The survey also found
growing fears about rising development
costs, increasing regulation, uncertain
future housing demand, and the availability
of financing.
Given these concerns, how does the
small guy compete against the larger
developer? One evolving notion is to
select land that appears less desirable,
pay less for it, and make a good profit by
building housing that adapts to the site
in an economical fashion. In fact, these
difficult sites are generally all