Consumers these days are used to having information at their fingertips. Useful real estate tool’s have become the norm in an increasingly technological world.
Now there is a great new tool which allows you to access an online database detailing land and property values throughout the United States! Courtesy of the Lincoln Institute of Land Policy and the Graaskamp Center for Real Estate at the Wisconsin School of Business. This awesome tool is useful to consumers and industry professionals alike as described by Realty Times;
This tool provide information on separate price indices for land and structures, in addition to the more common price indices for property, land and structures combined. Information on the values and rents of residential properties in the U.S. cover three dimensions:
- Rent-Price Ratio: The ratio of rents to prices for the stock of all owner-occupied housing.
- Aggregate U.S. Land Prices: Values and price indexes for all land, structures, and housing in residential use.
- Metro Area Land Prices: Values and price indexes for land, structures, and housing for single-family owner-occupied housing units in 46 major U.S. metropolitan areas.
This is definitely a tool to check out and use for research! Data is represented in Comma Delimited or Microsoft Excel Spreadsheet. Data from the Los Angeles Metro Statistical Area is one location used as part of the reporting!
For each of the metro areas in the report in each quarter over the 1984:4 – 2009:1 period, the following data are available:
| Home Value | Average value of housing |
| Structure Cost | Average replacement cost of the housing structure, after depreciating the structure based on its age |
| Land Value | Average value of the land (Defined as “Home Value” less “Structure Cost”) |
| Land Share (Pct) | 100 times Land Value divided by Home Value |
| Home Price Index | Price index for housing |
| Land Price Index | Price index for land |
With the $8000 first time homebuyer’s tax credit coming to an end soon, (see this great countdown clock to see how many days are left!) if you are a first time homebuyer now really is the best time to purchase a property to take advantage of the credit as well as the low rates and great affordability. Now is the time to buy! Particularly with prices on the rise in the Los Angeles area!
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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Judy Kunisaki – CA DRE license 00963582
