Real Estate / Property Values in Semmes (renter, house, to buy)

[ShouldIMoveAway]

Real estate confuses me, but I'm new to the whole thing and don't know much about it. Up until now I've been a renter but now it's almost time to buy. I've been looking at property values in Semmes and I see that the prices vary widely even among properties that are just 2 miles apart. For example, I just saw one that was asking $40k/acre and another one that was asking $133k per acre. Both were just land without anything on them. Both were near Howell's Ferry Rd. What gives? Is the guy asking $133k dreaming?

The only real difference I could see between them is that the $40k/acre one was farther out from a major road and the other one was right on a major road. But really, is that going to create a price difference of $93k? It seems ludicrous to me. Maybe someone else has all this figured out.

Also, we recently saw a house in Semmes sitting on an acre and half and the house is very old and needs repairs. The people are asking less for the house+land than the land by itself could sell for (in theory). Why would people do that? It has no liens or anything like that.

Ultimately what I'm looking for is 1-2 acres in Semmes with or without a house on it that I can buy in 6mo-12mo and resell after the market goes up in a few years and make some money on. Someone told me a demolition costs up to $10k; does Semmes allow you to do a demolition yourself?