When is the best time to sell a piece of undeveloped property?

[Curtis Curley]

I own a piece of undeveloped property and would like some criteria to know when it's time to sell or if it should be leased.  This property is located in an underdeveloped community that is in the process of being updated.  My concern is that the coming recession will likely slow this process down or even wipe out the equity.  The property doesn't have a home on it and there are trees and underbrush.

[Brian Ploszay]

Vacant land can sit for years if there is no development potential.  The good thing is that it doesn't take time for you to manage the property.  If you need to get out, put it on the market and put a sign on the property.  Every parcel eventually hits its selling price if you need to get out.

If you think that significant development is coming your way, it would be wiser not to be a seller in the earlier stages.  Land goes up significantly once there is interest in building.