Home Forums Hunting & Shooting Hunter's Campfire land beside my place is up for sale

I was fortunate to buy the farm I grew up on from my elderly mother a couple years ago. I paid cash and did a lot of upgrades to the house, etc., pretty much cleaned me out. There were two sizeable tracts in the immediate area that had been clear cut and posted for sale 20 years ago finally sold last year, highly discounted after 20 years on the market. One for 3k/acre the other 4k/acre. They had been clear cut and now had 20 years regrowth. I don't know what those owners have in mind, but one has spent a fortune completely clearing the property and putting in new roads. Looks like it will be developed.
Another smaller tract in the area was bought by a known developer.

So now a few months ago 160 acre property next to me went up for sale. It has been completely cutover the last 15 years. Mostly natural regrowth some in planted pines. It has been hunted heavily by a crew of guys that shoot anything that walks by and they told me they average 25 deer a year...which I believe. It borders a small non-navigable river. I really want this property to manage for hunting. I think controlling the hunting on it would improve the bucks in the whole area because a lot of young bucks are killed there every year, but also I need to have more room for boys to hunt on as they grow older (both under 10 now). I would clear some good chunks and put into crops, and really make the place nice again.

Here's the kicker. They are asking 10k/acre. I don't have that and don't like the idea of financing recreation property. I also don't think I could get a loan for that much on that property. Everybody laughs by how much they are asking. But smaller tracts up to 30 acres or so have been bringing a lot for people to build dream homes on. This land would requiring clearing to make a nice home place. I don't think they will get the asking price anytime soon. But I don't know what their bottom line is, and with as much development interest as there has been in the general area, I am concerned that somebody else will find and meet the bottom line before I come to the table. Part of me thinks it's best to let it sit for a couple years just to have some bargaining power.

I did not think this land would come for sale in my lifetime as it has been in the same family for over 200 years, possibly back to the 1700s. The current owner is an inlaw of that bloodline and he is about 80. I have never met him but spoke to him on the phone a few times...most recently 5-6years ago, and he is cordial. Lives about 1/2 hour away. He has 2 grown children. I don't know if they have any attachment at all to the place. I don't know why he is selling now....financial crisis, just wants the money, etc They did cut every scrap of timber off the place and there was some good stuff. Last cut was 5 years ago so maybe that money is now spent.

I would probably never forgive myself if I lose out on this without trying. I don't like the idea of financing it, but that's probably my only option. I don't know if I should call the old man and be casually nosy, or try to work something out with him directly, or just leave it alone for a good while and then make offers through a real estate agent. Or just forget about it for 10 years and hope I can save enough and the price comes down enough due to lack of interest. Like I said, once in a lifetime opportunity.
What would you all do?

What county is the property at in Virginia? out of curiosity....

a Virginia native here and just hate to see all the forests that have been turned into developments since I left to go to college and then into the military....

I'd like to see ya get it....good thing for your boys.... and keep some of Virginia away from developers...

If they are asking that kind of price, then you know they are looking for a developer with the deep pockets. If it were me, I would try everything possible to get a lock on it. There should be some price reduction in there somewhere.

Damn. In my area a nicely wooded 160 acre parcel would go for $1,000-$1,200 an acre. The owner is asking a lot; but it is neighboring property that you and your family will be able to use and enjoy for the rest of your lives. I don't like to borrow money for anything, either, but I think if you can swing it without spending the next 20 years eating beans and driving beater cars, you should go talk to the owner. Explain how you want to use it, what you think a realistic price is, and see where he really is on it. If you sit on it figuring to wait a few years and some developer buys it, you'll be ticked off at yourself as long as you live.

Bedford...

I just pulled the listing up for the first time in a while. It's been listed 5 months, and they have already dropped asking price by 200k. So must not have had any interest. I thought they would hold out a bit longer than that. The other properties that sat for 20 years never did drop asking price, but they came in substantially under at sale time.

I will talk to a banker that finances rural land see home much they will lend me at what price.

You might ask yourself the question: how long will you be able to hunt a quarter section when everything around it is developed?

You don't mention how many acres that you now own, or how many acres were in the two tracts that sold for 3/4 k each. It could be a great investment if it adds to and betters access to what you now own.

It sure can't hurt to talk to the land owner in person, realtors are nothing but thieves, that rob from both the buyer and the seller.

I had a similar plan come together this past spring. Added 137 acres to my place that gave me better access to the back end. Already has a road, fenced and a nice lake. Helps with controlling the trespassers is the big advantage in this case.

How bad do you want it ???? Go to the bank, take out loan for it, by combining both properties.Make it one big property. I know.....I wouldn't want to do that either but....... How much do you want a lot of new neighbors ? My wife calls me a wanna be land baron....... I'm always scheming on how to buy adjoining properties to keep the hordes away.

Joe

If I was young I would figure a way to buy it

Too rich for my blood for recreational property. I wouldn't take on the stress of paying for that, especially with young children in the house.

If it is listed with a realtor the owner has signed a listing contract with them and cannot make a side deal with you until the contract expires. That doesn't mean you cannot talk to the owner and see if you can determine an acceptable offer but you would need to make that offer through the realtor. I did this for an adjacent 15 acres 25 years ago and you will not regret locking up land. Last week I received an unsolicited offer on that 15 acres for twice what I paid. I'm not selling.

Go for it.

If the economy slumps (IMHO a strong possibility) all tracts may become available again.

Personally, I need some heavy equipment... I am waiting for a downturn.

Not trying to be a gloomy guy, just saying...

Democrats seem determined to bankrupt this country and put everyone in socialist shackles.

Are we talking $1,600,000 of borrowed money for land that basically has no income potential for the next 30 years?

What will the property taxes amount to in future years, especially as adjacent parcels develop?

So $1.6 million for cutover recreational land? That seems WAY overpriced. I mean WAY!
I agree with what others have said about buying land and the fact it is next to you, would make me certainly want it. But not for anywhere near that price. Not sure what part of VA you are in, but in the rural areas I have looked, that’s an insane price.
This summer, I bought 85 acres of recreational property in SW VA for $1k/acre. It has 2 springs, excellent access, fields and plenty of timber to sell. It wasn’t the only place prices like this either. In the area that I was looking, cutover land was going for $500-$1,000 an acre in the mountains. Good land that was suitable for farming or that had timber was priced at $1,000-$2,500 an acre depending where it was and what it had on it.

25 deer??

Oh u know they pourin corn out on dat mofo. lol

In Montgomery Co, rough land is going in the $3-4K acre and pasture double and more.

But in combining them, DO NOT put up your existing property as collateral. If the economy goes south, you could lose what you already have.