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Joined: Sep 2011
Posts: 60,647
Campfire Kahuna
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OP
Campfire Kahuna
Joined: Sep 2011
Posts: 60,647 |
These premises insured by a Sheltie in Training ,--- and Cooey.o
"May the Good Lord take a likin' to you"
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Joined: Jan 2007
Posts: 11,481
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2007
Posts: 11,481 |
Sells more than that around egde of Springfield , but then they call someone like me to come put in a subdivision , so I guess it's not really farmland anymore ...
Last edited by ldholton; 03/23/22.
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Joined: Nov 2015
Posts: 19,191
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 19,191 |
Highest I've heard of here was $14,000 an acre. One Mennonite sold it to another one. So much for the brotherly love they're supposed to practice.
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Joined: Sep 2021
Posts: 3,038
Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
Posts: 3,038 |
I'm not surprised. It has been going for 15-18 here lately.
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Joined: Nov 2002
Posts: 33,660
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,660 |
So you're broke like the rest of the landowners here?
Conduct is the best proof of character.
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Joined: Apr 2019
Posts: 409
Campfire Member
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Campfire Member
Joined: Apr 2019
Posts: 409 |
It's been going that way around the state. $22,600 last August in Grundy. $26,000 in Johnson last October.
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Joined: Oct 2018
Posts: 265
Campfire Member
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Campfire Member
Joined: Oct 2018
Posts: 265 |
Thats price around me, mostly investors buying it up. A few large farming operations also buying it.
1st John 4:7-8
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Joined: Jan 2009
Posts: 5,233
Campfire Tracker
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Campfire Tracker
Joined: Jan 2009
Posts: 5,233 |
Wish I could have gotten that instead of the measly six thousand I ended up with.
I could wish a lot of things on my worst enemy but neuropathy ain't one of them.
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Joined: Jan 2006
Posts: 5,618
Campfire Tracker
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Campfire Tracker
Joined: Jan 2006
Posts: 5,618 |
2014 we paid $4k an acre for a 42 acre lot. Last year the lot next to us sold. It is 8 acres and had a condemned house on it that needed to be torn down and carried off. It sold for $210k.
My biggest fear is when I die my wife will sell my guns for what I told her they cost.
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Joined: Jan 2012
Posts: 6,773
Campfire Tracker
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Campfire Tracker
Joined: Jan 2012
Posts: 6,773 |
4 tracts here just sold at auction here 8-8500 that kind of surprised me it’s considerably lower than has been selling
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Joined: Jan 2002
Posts: 12,816
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,816 |
4 tracts here just sold at auction here 8-8500 that kind of surprised me it’s considerably lower than has been selling With the increase in interest rates, the payment stayed the same, however.......
Sic Semper Tyrannis
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Joined: Nov 2015
Posts: 19,191
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 19,191 |
A friend of mine claims his banker has told him that the bubble is about to burst, as a lot of people who have been buying this high priced farmland have not been able to make any payments on the principle, and have been only paying interest. He says that the banker told him that they were going to demand some of their customers to pay up or else. I have no idea if this is true or not, but I have been told that there are some local Mennonites who bought some high dollar land that are behind on their payments.
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Joined: Aug 2004
Posts: 69,566
Campfire Kahuna
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Campfire Kahuna
Joined: Aug 2004
Posts: 69,566 |
A friend of mine claims his banker has told him that the bubble is about to burst, as a lot of people who have been buying this high priced farmland have not been able to make any payments on the principle, and have been only paying interest. He says that the banker told him that they were going to demand some of their customers to pay up or else. I have no idea if this is true or not, but I have been told that there are some local Mennonites who bought some high dollar land that are behind on their payments. I think the bubble burst is coming as well.
Molɔ̀ːn Labé Skýla!
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Joined: Nov 2015
Posts: 19,191
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 19,191 |
A friend of mine claims his banker has told him that the bubble is about to burst, as a lot of people who have been buying this high priced farmland have not been able to make any payments on the principle, and have been only paying interest. He says that the banker told him that they were going to demand some of their customers to pay up or else. I have no idea if this is true or not, but I have been told that there are some local Mennonites who bought some high dollar land that are behind on their payments. I think the bubble burst is coming as well. It came back in the 1980's, and when it burst, it made a very loud noise.
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Joined: Sep 2011
Posts: 60,647
Campfire Kahuna
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OP
Campfire Kahuna
Joined: Sep 2011
Posts: 60,647 |
In the 80's, they cared about inflation, and raised interest rates. And, did they ever!
It remains to be seen what they do this go round.
These premises insured by a Sheltie in Training ,--- and Cooey.o
"May the Good Lord take a likin' to you"
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Joined: Jan 2002
Posts: 12,816
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,816 |
Mortgage rates averaged 5% last week, another quarter percent up in one week. Commercial loans will generally be a couple of points higher. That’s going to push a lot of buyers to the side line.
Sic Semper Tyrannis
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Joined: Nov 2002
Posts: 33,660
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,660 |
In the 80's, they cared about inflation, and raised interest rates. And, did they ever!
It remains to be seen what they do this go round. T-Bills paid well back then...
Conduct is the best proof of character.
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Joined: Mar 2009
Posts: 3,193
Campfire Tracker
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Campfire Tracker
Joined: Mar 2009
Posts: 3,193 |
2014 we paid $4k an acre for a 42 acre lot. Last year the lot next to us sold. It is 8 acres and had a condemned house on it that needed to be torn down and carried off. It sold for $210k. I thought a guy selling 8 undeveloped acres for $80K in a boxed in lot here was bad.
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