Brian Blackmore at Caton Commercial brings over 20 years real estate experience to his new position as Sr. Vice President and Land Specialist. He specializes in the acquisition and disposition of land and bank-owned investment properties. In addition to Brokerage, Blackmore is principal of his own firm, Blackmore Land Development Services, Inc. (BuiLDS, Inc.)
Here is a quick interview with Brian Blackmore discussing his expertise on land development and commercial brokerage:
Why work with BuiLDS and Brian Blackmore?
Having developed land throughout my career, I have a knowledge base that few brokers possess. Because of my relationships and experience, I am able to negotiate with municipalities and ensure that I will maximize the value of the land or lots that are for sale.
What type of services are offered through BuiLDS?
BuiLDS provides a wide range of land development services that includes due diligence studies, conceptual budgeting, estimating, and building as well as construction and post-construction services.
How does your experience complement your brokerage with Caton Commercial?
I was a developer for nearly 20 years where I was involved with taking a piece of property from a farm field all the way through engineering, development, and finally sales to a home builder. Having built subdivisions anywhere from 40 to 400 acres, I fully understand the process and challenges that are present for any prospective buyer.
Talk about the state of residential development.
Back in 2007 we had 75,000 vacant developed lots and were absorbing approximately 36,000 lots per year, which was two years inventory and a healthy absorption rate. Since 2008, we were at a yearly absorption as low as 2,000 vdl’s per year and are currently up just over 4,000 per year now. There are still approximately 45,000 lots left with only half of those being in desirable areas. Lot prices have been creeping up toward the cost of replacement, so home builders are starting to develop new subdivisions again.