Just curious and being nosey

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cowboy43

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When and how much did you pay for your land per acre? What is the current value per acre? Me 1979 $450 an acre, now $6000 to $8000 an acre. Central Texas :cowboy:
Part of the same land my Father bought in 1948 for $35 an acre.
 

Rafter S

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People thought my father was crazy for paying $1,000.00 per acre in the early 1970's. Now it's worth $13,000.00, or maybe a little more.
 
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Anonymous

Rafter S":wommziji said:
People thought my father was crazy for paying $1,000.00 per acre in the early 1970's. Now it's worth $13,000.00, or maybe a little more.
Comparing to gold, your fathers purchase hasn't gained much. In the early 70s, Gold was around $100 per ounce. Today it's around $1250. The govts "accumulative inflation rate" over that time period is 530%. http://www.usinflationcalculator.com/
 
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cowboy43

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The inflation chart calculates the land my father bought in 1948 for $35 would now be worth $355.00
The land I got in 1979 for $450 would now cost $1500.
Something ain't calculating .
 

Bright Raven

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zirlottkim":22ms7kzz said:
Rafter S":22ms7kzz said:
People thought my father was crazy for paying $1,000.00 per acre in the early 1970's. Now it's worth $13,000.00, or maybe a little more.
Comparing to gold, your fathers purchase hasn't gained much. In the early 70s, Gold was around $100 per ounce. Today it's around $1250. The govts "accumulative inflation rate" over that time period is 530%. http://www.usinflationcalculator.com/

After you adjust for inflation, it is amazing how poor farm land performs as an investment.
 
A

Anonymous

cowboy43":u3lo5l0f said:
The inflation chart calculates the land my father bought in 1948 for $35 would now be worth $355.00
The land I got in 1979 for $450 would now cost $1500.
Something ain't calculating .
Yep, that is the way the govt figures inflation. Inaccurate in my opinion. Compare it to gold at time of purchase vs compared to now and it may give a better indication. Although I have read where many think gold price is manipulated also. In the end, It is all about buying power. If your property increases in dollar value but your purchasing power of those dollars does'nt, then you have not come to the good.
 

Rafter S

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zirlottkim":joytuof4 said:
Rafter S":joytuof4 said:
People thought my father was crazy for paying $1,000.00 per acre in the early 1970's. Now it's worth $13,000.00, or maybe a little more.
Comparing to gold, your fathers purchase hasn't gained much. In the early 70s, Gold was around $100 per ounce. Today it's around $1250. The govts "accumulative inflation rate" over that time period is 530%. http://www.usinflationcalculator.com/

I wasn't bragging or complaining, just answering the question.
 
A

Anonymous

Rafter S":1ekfq27z said:
zirlottkim":1ekfq27z said:
Rafter S":1ekfq27z said:
People thought my father was crazy for paying $1,000.00 per acre in the early 1970's. Now it's worth $13,000.00, or maybe a little more.
Comparing to gold, your fathers purchase hasn't gained much. In the early 70s, Gold was around $100 per ounce. Today it's around $1250. The govts "accumulative inflation rate" over that time period is 530%. http://www.usinflationcalculator.com/

I wasn't bragging or complaining, just answering the question.
10-4. I was just throwing it out there. A lot of people never consider inflation in their land purchases. I paid from $1500 to $2500 per acre for most of mine. It'll take me a lifetime to regain improvement cost with cattle sales, much less pay for the land.
 

Nesikep

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1990, $1000/ac give or take, there was some machinery, etc but none worth too much
today? well, it would take 10K/ac to not tell someone to go pound sand.. hay sheds, shop, productive land, lot of equipment, much improved water supply, etc
 

Bigfoot

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My grandfather bought the piece I live on from his grandfather for $8 an acre. I gave what calculated to be $380 an acre in 1989. 45 acres was sold off this place in the 40's to settle a hospital debt. I bought it back in 09 for $2200 an acre. Funny what you consider one of your great moments in life. Putting the place back under one fence was one of my best days ever. My area is a little wishy washy. You here of some selling for $4000 an acre, and some selling for 10,000. Reasonably sure we'll never know in my lifetime what it's worth.
 

Aaron

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Lot of land around here was $40/acre or less in the 70's.

Local ex-farmer was telling me a week ago he bought land for $5k per 160 acres in mid 70's and that same land sold this spring for $140k per 160 acres. And that is on the upper end of the spectrum, as it was a wealthy grain farmer that started throwing numbers out until he got the owner to bite.

And you don't have to go too far back and the government just gave the land to you. Just northwest of me 5 miles is the youngest (last) homestead claim in all of Canada, granted in 1954 - whereas most homesteads were claimed in the 1800's and early 1900's.
 

Cross-7

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What is production
How many acres to a cow ?
10k an acre at a cow to acre isn't bad
3 acres to a cow at 10k or 30k per cow is a different deal
 

Nesikep

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Aaron":22jg7prm said:
Lot of land around here was $40/acre or less in the 70's.

Local ex-farmer was telling me a week ago he bought land for $5k per 160 acres in mid 70's and that same land sold this spring for $140k per 160 acres. And that is on the upper end of the spectrum, as it was a wealthy grain farmer that started throwing numbers out until he got the owner to bite.

And you don't have to go too far back and the government just gave the land to you. Just northwest of me 5 miles is the youngest (last) homestead claim in all of Canada, granted in 1954 - whereas most homesteads were claimed in the 1800's and early 1900's.
Our place was homesteaded originally in 1886, then after that person died with no heirs, went back to the gov't and was sold in about 1934.. it's passed through about 4 other owners before we got it.. I think we're closing in on being the longest owners of this patch
 

Bright Raven

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zirlottkim":2wijyx7q said:
cowboy43":2wijyx7q said:
The inflation chart calculates the land my father bought in 1948 for $35 would now be worth $355.00
The land I got in 1979 for $450 would now cost $1500.
Something ain't calculating .
Yep, that is the way the govt figures inflation. Inaccurate in my opinion. Compare it to gold at time of purchase vs compared to now and it may give a better indication. Although I have read where many think gold price is manipulated also. In the end, It is all about buying power. If your property increases in dollar value but your purchasing power of those dollars does'nt, then you have not come to the good.

The government manipulates inflation to make the economy look better and to reduce Social Secuity payouts. I agree, it is inaccurate. In terms of inflation, the rate is higher than calculated using the government formula.
 

ddd75

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my wifes grandparents have the original deed signed by abrahama lincoln. pretty neat. I think it was given to them or 1.00 or something.

they got it for free but now they need to divide it among there 5 kids.. that works out great! duuurrrrr
 

ddd75

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last auction I went to was bare land, some road frontage.. all tillable. 6800/ac

most land sales I see in the paper are around 8-10k and a lot of these tracts are 100-300 ac.. not sure where people get 3 million to buy a farm ~!
 

Rafter S

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Cross-7":3u21soet said:
What is production
How many acres to a cow ?
10k an acre at a cow to acre isn't bad
3 acres to a cow at 10k or 30k per cow is a different deal

I know in some areas it's a consideration, but in my immediate area Ag production has very little, if anything, to do with land price.
 

Workinonit Farm

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Rafter S":1hmzncdu said:
Cross-7":1hmzncdu said:
What is production
How many acres to a cow ?
10k an acre at a cow to acre isn't bad
3 acres to a cow at 10k or 30k per cow is a different deal

I know in some areas it's a consideration, but in my immediate area Ag production has very little, if anything, to do with land price.

:nod: Same in this area. It used to be, but now what is more important is how many division rights, how many houses can be put on it.
 

Nesikep

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Here the land price is still based at least slightly on production, though not beef production.. more winery prospects, dude ranches, and the like.. all status symbols.

Was just looking at a ranch 3 hours north of us for under 1mil that holds 240 head.. nearly tempting
 

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