Question for people who've bought land

I enjoyed this video (https://youtu.be/nV7G9_6hwF8?si=f5ChxPDTg4aFza4I) but it included a claim I fear is too good to be true, that raw land is frequently overpriced by 25%, 50%, even 70%.

Was that your experience? Did you ultimately pay less than the asking price for your land, and if so how much less?

For those who have watched the video, what else did you find resonated with you as true or as especially untrue?

Ned Harr wrote:I enjoyed this video (https://youtu.be/nV7G9_6hwF8?si=f5ChxPDTg4aFza4I) but it included a claim I fear is too good to be true, that raw land is frequently overpriced by 25%, 50%, even 70%.

Was that your experience? Did you ultimately pay less than the asking price for your land, and if so how much less?

For those who have watched the video, what else did you find resonated with you as true or as especially untrue?

I shopped for years, and found that in my region there was very little price movement on the part of sellers, and if something was overpriced relative to demand, most sellers were content to let it sit. Sometimes a property would be listed on and off for several years and then be pulled with no sale occurring. One property near me is listed nearly every spring for the last decade or so, hasn't sold yet..

The property I bought was one of a size and price matched set, all owned by one extremely wealthy man. They all sat on the market for years. He dropped the price by around 10%, and every one of these properties sold within a few months, I think all within 5% of the new asking price. This was the biggest drop I can recall seeing for empty acreages in all my search..

Most other properties I looked at moved quickly, near asking price. I was outbid on some; once I had a signed agreement but walked during the conditions stage.. seller had a backup offer in place already.

This assertion may be true other places, particularly more remote places, but it does not appear to be true here.