Land - what's it worth?

Two land propossals in one day - that's a record. The first 40+ acres in Colorado - about an hour from Denver - $375,000. The second 1/2 acre on a major thouroughfare in the San Jose metro - $1,500,000 approx. Do I hear the 3 "L's" of real estate -location, location, location? Actually, the CO deal is less complicated and easier to evaluate. What is a huge question is what can be done with an in-fill property. Nothing is for sure until drawings are proposed to City planning. Market value from the inverted, reverse, upside down way. Many kudos to all the successful developers out there. Blessed be the cookie cutter ranch house in west San Jose.