Hey everyone, this is Bob McCranie with Texas Pride Realty and your realty idea of the day is the value of land versus the value of the improvement on the land which is the house. Bad drawing. Anyway. So in parts of the country the land is worth more than the improvement that's upon the land. In the Texas area the improvement on the land is worth more than the...I'm sorry, the improvement is worth more than the land. So when you're moving from California or the East Coast and you're used to paying extraordinary prices there for a three bedroom, two bath 1950s pier and beam house, well that house is really not the value. The land underneath it is the value. And because you have such a narrow strip to live on, that land is really worth something. In Texas and in some of the middle states we have land galore. So our land value is nominal but the improvement on the land is worth more. So talk about your area. If values are going up and down talk about why. And there's two components: land and improvement. Take care. Bob McCranie. There'll be another realty idea of the day posted tomorrow. Bye-bye.
