Missing Hidden Value - I goofed

[Dave2]

Two years I missed an opportunity but it took until today to realize my mistake.  

It was one of those 2 acre pieces of chequerboard we look at and turn our nose up at.  Roadside with services and requires rezoning to build but nothing that I couldn't work on.  Property was funny because it was level at the roadside, had a hill in the middle that was partially exposed and nicely treed in the back.  Zoned rural.  Because of the hill lots of grading would be needed.  

I have a number of holdings in the area and as a result aways look the opportunities over.  Put in a stink bid that was one of the few bids on the property which was surprisingly won by a local pro
at a price level at the upper end of the range that the regulars bid.

Couldn't figure it at the time but filed info away for future in my mind and onto the next one.   Fast forward to a couple of years and dealing with a buyer who wants to construct fast.  Property I own is buildable but rather low terrain and the possible buyer wants to build it up with some fill.  

I remember property with the hill and contact the owner who also happens to own a local excavation company.  Talk to him about the hill for some fill but he refuses.  Hill is solid sand and gravel.  (Professionals call it Granular A) and he is holding it for road building. Live and learn.