Monday, September 26, 2011

Cody Lyon on KUT talking about Bastrop County Land Values post wildfires


In this week’s Austin Business Journal, Cody Lyon looks at Bastrop County land values that could be cut in half as the real estate market faces dramatic ups and downs resulting from the wildfires that scorched almost 35,000 acres.

Dramatic value dips would be problematic for many landowners, but they could yield opportunities for investors looking to employ a patient buy-hold strategy while this patch of Texas recovers.

“We’re confident there will be some devaluation in the acreage charred by the fires,” said Cameron Boone, director of research at Lewis Realty Advisors Inc. Lewis Realty estimates the value of land directly impacted by wildfires could drop by up to 60 percent.

This might open the door for what some call vulture investors, who swoop in and offer pennies on the dollar for damaged properties, Boone said.

Click on the player to hear KUT’s Emily Donahue talk with Lyon about his report.

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