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Land prices? #7608995
06/20/22 01:43 PM
06/20/22 01:43 PM
Joined: Jan 2018
Posts: 3,157
MN
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Donnersurvivor Offline OP
trapper
Donnersurvivor  Offline OP
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Joined: Jan 2018
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MN
Anyone pay close attention to land prices lately? Curious if interest rate hikes etc had taken a toll at all yet? If I keep booking work I would like to buy more land soon.

Re: Land prices? [Re: Donnersurvivor] #7609017
06/20/22 02:09 PM
06/20/22 02:09 PM
Joined: Dec 2006
Posts: 9,821
East-Central Wisconsin
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bblwi Offline
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bblwi  Offline
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Posts: 9,821
East-Central Wisconsin
Near where I live land prices have been very high compared to production capability for about 7-8 years. The reasons for fewer sales right now is not interest rates it is worry and concern about the commodity price structure over the next years. There is concern that input costs don't trend back near as much as prices do when the bubbles break. This is mostly the concern of lenders and other financial interested firms.
Interest rates even if they go up will be still historically low so that to many is not an issue as some may think it is. Long term interest rates are not nearly as impacted by rate increases are are the short term or operating loans that businesses use to produce and operate and that impacts all businesses. The other main reason I don't feel we will see a lot of decrease in prices for land is a lot of investors are moving out of the securities markets and into other investments and that brings a lot of cash and liquidity into the land market. Many recent sales near us, not big acres say `160 or less have been cash sales so interest rates are not issues there at all.

Bryce

Re: Land prices? [Re: Donnersurvivor] #7609324
06/20/22 11:52 PM
06/20/22 11:52 PM
Joined: Dec 2006
Posts: 6,867
MN >>>
T-Rex Offline
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T-Rex  Offline
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Joined: Dec 2006
Posts: 6,867
MN >>>
Land price is not a cut and dried issue.

I just had an offer made on my property in Maple Grove. The guy spent over four weeks working up a price based upon the development potential. My neighbor with the same amount of acreage also got an offer. One offer 50% of the other.

it all depends....


Man who mistake shillelagh for fairy wand; see pixie dust, also.
Re: Land prices? [Re: Donnersurvivor] #7609342
06/21/22 12:54 AM
06/21/22 12:54 AM
Joined: Jan 2008
Posts: 1,610
Southern Virginia, 50 yr old
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VaBeagler Offline
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VaBeagler  Offline
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Joined: Jan 2008
Posts: 1,610
Southern Virginia, 50 yr old
You want land? 155 acres, 70 acres still in virgin woodland. 40 acres in mature pines. 15 acres of prime pasture fenced with 5 strand high tensile fencing. 20 acres in hay feilds. 3 ponds. Two spring fed ponds and 1 fresh water prawn pond. 1500 square foot house built in 2000. 900 square foot shop with central heat and cooling. Lean to type tractor shed 24x36. 2 container storage sheds 40 foot long. 5 carports 24 x 24.
Comes with 3 tractors less than 6 years old. 45 hp, 55 hp, and 100 hp with cab, front end loader, with all of the equipment.
In the country but 5 minutes from town. Wildlife galore.
1.2 million. 200,000 below appraised value.

Re: Land prices? [Re: Donnersurvivor] #7609386
06/21/22 07:19 AM
06/21/22 07:19 AM
Joined: Jan 2014
Posts: 1,700
NW MO
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TurkeyTime Offline
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TurkeyTime  Offline
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Posts: 1,700
NW MO
bblwi pretty well summed it up.

Re: Land prices? [Re: Donnersurvivor] #7609401
06/21/22 08:06 AM
06/21/22 08:06 AM
Joined: Jan 2018
Posts: 3,157
MN
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Donnersurvivor Offline OP
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Donnersurvivor  Offline OP
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MN
Thanks for the input all. I really want a piece a neighbor owns that connects to my farm. Everything here is unaffordium, I was hoping it may be Trending down.

Re: Land prices? [Re: TurkeyTime] #7609444
06/21/22 09:12 AM
06/21/22 09:12 AM
Joined: Dec 2013
Posts: 12,565
Greene County,Virginia
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run Offline
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run  Offline
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Greene County,Virginia
Originally Posted by TurkeyTime
bblwi pretty well summed it up.

I agree 100%.


wanna be goat farmer.
Re: Land prices? [Re: run] #7609451
06/21/22 09:24 AM
06/21/22 09:24 AM
Joined: May 2020
Posts: 991
Illinois
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dkrug Offline
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Joined: May 2020
Posts: 991
Illinois
If you want land that connects to yours, figure out a way to get it.
Usually only one chance at it in your lifetime.

Re: Land prices? [Re: Donnersurvivor] #7609507
06/21/22 11:02 AM
06/21/22 11:02 AM
Joined: Jul 2008
Posts: 5,644
central Illinois
yoteguts Offline
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yoteguts  Offline
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Joined: Jul 2008
Posts: 5,644
central Illinois
Crazy here. Just had 225 acres sell north of me for $16,300 an acre.




I'm itchin' to see a coyote twitchin'.

More trappin' and less yappin'.



Member FTA & USSA.





Re: Land prices? [Re: Donnersurvivor] #7609511
06/21/22 11:06 AM
06/21/22 11:06 AM
Joined: Mar 2013
Posts: 882
Western Wisconsin
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TraderVic Offline
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Posts: 882
Western Wisconsin
All good comments. The smaller the acreage, the more it costs per acre. Sometimes it's easier to buy a larger acreage, keep what you want and sell off the rest - if you have the resources to do so.

Re: Land prices? [Re: Donnersurvivor] #7609524
06/21/22 11:28 AM
06/21/22 11:28 AM
Joined: Feb 2020
Posts: 4,644
Indiana
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Providence Farm Offline
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Providence Farm  Offline
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Indiana
Originally Posted by Donnersurvivor
Thanks for the input all. I really want a piece a neighbor owns that connects to my farm. Everything here is unaffordium, I was hoping it may be Trending down.



I thought v had I had a deal with a neighbor friend to buy the ground that was between us and split it up between us. They got greedy in the end and keep it all. We are no longer friends. Their loss my gain now I know what type of people they are and spen my very limited time on.my farm and family not doing projects for them.

It was worth
More to me but they wanted am extra 250k above what we were taking about to begin with for.my section.above what they paid.

I will never be able to afford to expand here now. Buy it at what ever cost if you can afford it because it won't be available again most Likely.

Last edited by Providence Farm; 06/21/22 11:29 AM.
Re: Land prices? [Re: Donnersurvivor] #7609533
06/21/22 11:44 AM
06/21/22 11:44 AM
Joined: Dec 2012
Posts: 1,181
NC - Here there and everywhere
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coondagger2 Offline
"Brat"
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"Brat"
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Joined: Dec 2012
Posts: 1,181
NC - Here there and everywhere
The way to buy land in todays market is to buy land that is not for sale

I have looked for over a year for our first piece of property. Quickly learned that any land that was "for sale" through a realtor would be priced into oblivion

Started writing letters to landowners that lived far off and talking to older folks around town

Found a small track that the guy wanted tax value for. He had some health trouble and had to do a spell in the hospital. Needs some money to pay his bills. Wanted a quick sale and no hassle of realtors and their fees. $7,000 per acre. Got it to pass a perc test and waiting for the survey to finish now. Hopefully will have it closed by the end of the month

All other similar land in my area is selling for 20-30k per acre every day


Gotta live up to the nickname...
Re: Land prices? [Re: Donnersurvivor] #7609758
06/21/22 06:49 PM
06/21/22 06:49 PM
Joined: Jan 2018
Posts: 3,157
MN
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Donnersurvivor Offline OP
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MN
The piece I want is 60 acres, about half tillage and half potholes of swamp with trees. 3000 an acre may be realistic, I'm not sure though. From a pure financial standpoint it wouldn't make sense.

Re: Land prices? [Re: Donnersurvivor] #7609841
06/21/22 09:33 PM
06/21/22 09:33 PM
Joined: Dec 2013
Posts: 12,565
Greene County,Virginia
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run Offline
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Greene County,Virginia
$3,000 per acre is a steal in my neighborhood.


wanna be goat farmer.
Re: Land prices? [Re: Donnersurvivor] #7609844
06/21/22 09:36 PM
06/21/22 09:36 PM
Joined: Jan 2014
Posts: 1,700
NW MO
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TurkeyTime Offline
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Posts: 1,700
NW MO
If you are going to get a loan you could offer $2500 and he carries the note. You could show how much per acre he will really get when the interest is factored in.

Re: Land prices? [Re: Donnersurvivor] #7609847
06/21/22 09:38 PM
06/21/22 09:38 PM
Joined: Mar 2010
Posts: 2,584
wyoming southeast
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danvee Offline
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Joined: Mar 2010
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wyoming southeast
Looking at land in Canada just crazy in wy unless your rich there is no way to pay off land on grazing or farming. Land is better than gold. been in Wyoming all most 80 years and scraped a living off the land cant do it anymore.

Re: Land prices? [Re: run] #7609849
06/21/22 09:40 PM
06/21/22 09:40 PM
Joined: Oct 2013
Posts: 8,397
East of the Mason-Dixon Line
DelawareRob Offline
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DelawareRob  Offline
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Joined: Oct 2013
Posts: 8,397
East of the Mason-Dixon Line
Originally Posted by run
$3,000 per acre is a steal in my neighborhood.


Heck, you could quadruple it and it would still be a steal.
Found this, not sure how accurate it is.

[Linked Image]

Last edited by DelawareRob; 06/21/22 09:43 PM.

You don't rise to the occasion, you fall to the level of your training.

Semper Paratus
Re: Land prices? [Re: Donnersurvivor] #7609850
06/21/22 09:41 PM
06/21/22 09:41 PM
Joined: Jul 2009
Posts: 2,051
Oregon
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H2ORat Online content
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Joined: Jul 2009
Posts: 2,051
Oregon
If I could find any piece of ground for 3k in my area I would sell my children to get it. jk. 30k is more likely here --- I can't pay for that ground raising sheep - even at todays prices. If it bordered my place it would be worth more than market price. If you can justify it - by all means go for it. If it will put you under --- don't.

Re: Land prices? [Re: Donnersurvivor] #7609867
06/21/22 10:04 PM
06/21/22 10:04 PM
Joined: Jan 2018
Posts: 3,157
MN
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Donnersurvivor Offline OP
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MN
I meant 3,000 may be a realistic price I would pay. It's not for sale but they no longer farm it and just lease it out. It's poor farm ground and the small ponds/swamps all over in it make it more difficult to farm. As much as I want to go talk to the owner about it financially it only pencils out if I could get it for $135,000. That would make it a roughly 2% return per year with land rent.

The reason I'm considering this is because I'm unsure if I should buy equipment this year and expand my business when it looks like we are coming into a recession, I also will have some profits that I would rather buy land with than pay taxes on so... Who knows what to do. It would basically be recreational land and for $180,000 you can buy a huge chunk of that a few hours drive away from here. (probably 200 acres)

Re: Land prices? [Re: Donnersurvivor] #7609882
06/21/22 10:36 PM
06/21/22 10:36 PM
Joined: Jul 2009
Posts: 2,051
Oregon
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H2ORat Online content
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Oregon
Originally Posted by Donnersurvivor
I meant 3,000 may be a realistic price I would pay. It's not for sale but they no longer farm it and just lease it out. It's poor farm ground and the small ponds/swamps all over in it make it more difficult to farm. As much as I want to go talk to the owner about it financially it only pencils out if I could get it for $135,000. That would make it a roughly 2% return per year with land rent.

The reason I'm considering this is because I'm unsure if I should buy equipment this year and expand my business when it looks like we are coming into a recession, I also will have some profits that I would rather buy land with than pay taxes on so... Who knows what to do. It would basically be recreational land and for $180,000 you can buy a huge chunk of that a few hours drive away from here. (probably 200 acres)

offer 20-50 more per acre and lease it for you. Gives you the opportunity to find out more about the ground and (in our area at least) usually gives you first option to buy. I am in the same boat of trying to expand -- but unsure if I can hold onto it and make it pay. BTW -- a few hours away has costs associated with it too -- I know that for me if it isn't within about an hours drive - i will never use it. If it is close and I might be able to get some return on my investment -- It might be worth it.

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