Survival instinct number one for all my builder friends. A pretty rendering created for marketing purposes on a crappy location doesn’t make a good project choice. Rewarding a speculator makes no sense, do the work yourself that the speculator wants to capture as easy money. There is no value left to be created when a speculator just gets a development permit passed. They unfailingly believe they are entitled to a significant share of the value created by the massive undertaking of investing in actual site work. I wouldn’t buy this property if it was the last site in the city remaining for me to build on. Fortunately at this moment I have plenty of better opportunities than this. The general consensus is the land valuation promises of these realtors is super bloated, they even acknowledge it privately.
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