Re: Land prices?
[Re: Donnersurvivor]
#7609324
06/20/22 11:52 PM
06/20/22 11:52 PM
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Joined: Dec 2006
Posts: 7,523 WI>>>MN >>>WI
T-Rex
trapper
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trapper
Joined: Dec 2006
Posts: 7,523
WI>>>MN >>>WI
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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.
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Re: Land prices?
[Re: Donnersurvivor]
#7609342
06/21/22 12:54 AM
06/21/22 12:54 AM
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Joined: Jan 2008
Posts: 1,750 Southern Virginia, 50 yr old
VaBeagler
trapper
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trapper
Joined: Jan 2008
Posts: 1,750
Southern Virginia, 50 yr old
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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.
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Re: Land prices?
[Re: Donnersurvivor]
#7609507
06/21/22 11:02 AM
06/21/22 11:02 AM
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Joined: Jul 2008
Posts: 5,777 central Illinois
yoteguts
trapper
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trapper
Joined: Jul 2008
Posts: 5,777
central Illinois
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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.
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Re: Land prices?
[Re: Donnersurvivor]
#7609524
06/21/22 11:28 AM
06/21/22 11:28 AM
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Joined: Feb 2020
Posts: 8,961 Indiana
Providence Farm
trapper
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trapper
Joined: Feb 2020
Posts: 8,961
Indiana
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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.
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Re: Land prices?
[Re: Donnersurvivor]
#7609533
06/21/22 11:44 AM
06/21/22 11:44 AM
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Joined: Dec 2012
Posts: 2,140 NC - Here there and everywhere
coondagger2
"Brat"
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"Brat"
Joined: Dec 2012
Posts: 2,140
NC - Here there and everywhere
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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...
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Re: Land prices?
[Re: run]
#7609849
06/21/22 09:40 PM
06/21/22 09:40 PM
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Joined: Oct 2013
Posts: 8,773 East of the Mason-Dixon Line
DelawareRob
trapper
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trapper
Joined: Oct 2013
Posts: 8,773
East of the Mason-Dixon Line
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$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.
Last edited by DelawareRob; 06/21/22 09:43 PM.
Who is John Galt?
You don't rise to the occasion, you fall to the level of your training.
Semper Paratus
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Re: Land prices?
[Re: Donnersurvivor]
#7609882
06/21/22 10:36 PM
06/21/22 10:36 PM
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Joined: Jul 2009
Posts: 2,462 Oregon
H2ORat
trapper
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trapper
Joined: Jul 2009
Posts: 2,462
Oregon
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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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