Pitt Meadows Gateway sell now or sell later?

[bobbie]

My husband and I own 14 acres (our principle residence in Pitt Meadows) its in the ALR,
so no possibility of selling part of it off in the forseeable future, due to municipal land
size restrictions. It would market for approx. $2,000,000, however it has risen $1,000,000
in only 2 1/2 years. As much as we love it here, we have never been big income earners.
so to sell at some point is inevitable.

Question: Is it wiser to market it now before the two bridges are complete. A possible
downturn in the market of 10 to 20% over the next couple years would be a significant
loss of equity and investment potential. Or is a downturn of that amount more unlikely
in this area? Blueberry farmers or Blueberry industry were snapping up the properties
a couple of years ago, (may be good tax write offs?)With the extra rise in land prices
they do not seem to be buying now.

Question: Any thoughts or opinions on this area or areas where something similiar is
happening, would be most appreciated, (it seems that the land in the ALR is becoming
so expensive for profitable agriculture?)

I`m new to the forum here, and just love all the great info you people have given, the
Quickstart looks like something I could really get into.

Best, Barb

 

[dwb]

I`ll leave the advice to other experts, but I noticed you said this....

QUOTE (bobbie @ Apr 2 2008, 09:44 PM) As much as we love it here, we have never been big income earners.
so to sell at some point is inevitable......Blueberry farmers or Blueberry industry were snapping up the properties a couple of years ago, (may be good tax write offs?)With the extra rise in land prices
they do not seem to be buying now.

Have you considered renting out a large portion of your excess land to these blueberry farmers so you COULD become bigger income earners by collecting this rent while you contemplate your final decision? Is that a possibility or is there restrictions on that too?

 

[bobbie]

QUOTE (dwb @ Apr 3 2008, 03:15 PM) I`ll leave the advice to other experts, but I noticed you said this....



Have you considered renting out a large portion of your excess land to these blueberry farmers so you COULD become bigger income earners by collecting this rent while you contemplate your final decision? Is that a possibility or is there restrictions on that too?

Thanks for your post dwb. Yes, we lease out 11 acres to a tree grower, have been for about 10yrs. helps
with taxes, ...we presently get $575.00 a month for 11 acres, nothing to sneeze at but when the market value of 11 acres is about $1,400,000 seems like there must be better ways. I thought maybe we could lend the land to individuals who wanted to grow blueberries and half the profits, however that would put us in a long lease before production would appear, may be an angle if we choose to stay a number more years...not sure for now.

 

[DonCampbell]

Hi,

Before you make the decision, I highly recommend that you read our latest research on that area. There is some strong potential for increased demand in the area, but it will take a few year to come to fruition. Click on the link below for the full report (FREE):

Lower Mainland Transportation Report 2008

Trust that helps!