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Joined: Oct 2013
Posts: 18,880
Campfire Ranger
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Campfire Ranger
Joined: Oct 2013
Posts: 18,880 |
If one has money to pay cash for the land, he/she can make lot more money investing in other things. Land around here has doubled in the last 3 years. Not many other investments do that or are as safe. We gave $7500 an acre for ground in March, 99% timber. If I wanted to sell today I bet I could get $2k an acre more and I might have to sit on it for a month. I tried on a 20 acre piece that had a contract within 2 days. Actually had a 100' wide "easement" that was sold with the property, 1/2 mile back to it. If you don't want to sell around here you better not put a price on it.
The last time that bear ate a lawyer he had the runs for 33 days!
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Joined: Jun 2001
Posts: 19,067
Campfire Ranger
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Campfire Ranger
Joined: Jun 2001
Posts: 19,067 |
If one has money to pay cash for the land, he/she can make lot more money investing in other things. Land around here has doubled in the last 3 years. Not many other investments do that or are as safe. We gave $7500 an acre for ground in March, 99% timber. If I wanted to sell today I bet I could get $2k an acre more and I might have to sit on it for a month. I tried on a 20 acre piece that had a contract within 2 days. Actually had a 100' wide "easement" that was sold with the property, 1/2 mile back to it. If you don't want to sell around here you better not put a price on it. Maybe so, but it is usually long term This high inflation won't last long and people will find their land values are under water compared to what they paid/financed for.Then you will see a lot of foreclosures.That high price will be over shadowed short term because of price of fuel, fertilizer, seed. equipment maintenance etc..Then you have the increase of cost of electric or gas for irrigation if you use it. Here in the west 50 acres is a hobby farm.You might pick up a half or full section but you want make living on it . A lot of land takes 30-40 acres to run a cow calf pair. Most land sales are in the 500-1000 acres realm or more.Those triple value land prices are when they are putting 6 or more houses per acre, not farms. Old folks are dying off and the kids want the money.Th developers will grab it up and make a lot more.
Last edited by saddlesore; 06/09/22.
If God wanted you to walk and carry things on your back, He would not have invented stirrups and pack saddles
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Joined: Jun 2011
Posts: 697
Campfire Regular
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Campfire Regular
Joined: Jun 2011
Posts: 697 |
Has anyone seen a drop in prices as of yet? Seems like they are stronger than ever here , even with interest rates going up !!
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Joined: Jul 2011
Posts: 196
Campfire Member
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Campfire Member
Joined: Jul 2011
Posts: 196 |
Has anyone seen a drop in prices as of yet? Seems like they are stronger than ever here , even with interest rates going up !! Same here, sale prices still going up even in the middle of the worst drought in over 40 years.
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Joined: Sep 2021
Posts: 3,038
Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
Posts: 3,038 |
Still selling at pretty high prices around here, but I have seen a few plots with prices a little lower than they had been running. Most were going for $15-20k per acre fairly recently, but there's a few listed now in the 8-10 range. Most are still closer to 15, though.
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Joined: Aug 2011
Posts: 8,793
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2011
Posts: 8,793 |
With mortgage rates over 7% now, I expect there to be a considerable downturn in the market. Cash buyers will be some of the few buying farm/ranch land for the next several years. Property has gotten ridiculously expensive.
l told my pap and mam I was going to be a mountain man; acted like they was gut-shot. Make your life go here. Here's where the peoples is. Mother Gue, I says, the Rocky Mountains is the marrow of the world, and by God, I was right.
- Del Gue
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