Interested to know what land prices have done in your area. Not talking about 1-50 acre places which have of course skyrocketed but say 75-300 acres. If they've increased where to you think they'll stop? In my area land has went from $100-200 30 yrs ago, $400-600 20 yrs ago, $800 -1,100 10 yrs ago, $1,800-2,000 5 yrs ago, and a place down the road just sold for $2,500. We are 30 miles from the closet Wal mart and chain sit down restaurant which for some reason seems to be a measure of how far out people will live. Used to be everyone with land around here farmed or ranched now lots of sizeable acreage is just grown up and hunted a few times a year. The places Currently selling for $2,500 + have no upgrades at all and bad fences and pools.
Land Price Increases
- Thread starter Lucky
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Urban flight due to the pandemic and civil disobedience. Good time to sell.
Rydero
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I've been in this area for approximately 12 years. Bought my first quarter section for $185/ac not long after I got here. Last couple I paid just over $400/ac last year. Had a local farm just go up for sale a couple days ago for just shy of $1000 but it hasn't sold yet. The increases seem to be accelerating...2 hrs from the city.
SBMF 2015
Well-known member
Things have been on a steady increase, then kind of Plateaued the last 18months. The last 6 wks have been wild. Guys have to much govt money to spend. Three wks they sold a flat black 160 acres. Two guys must have really wanted it, $13,500/Acre. Lots of $9,500-11,000 ground sold one county over.
My mom and her sisters inherited 65 acres. 20 tillible, 45 rough timber pasture. No fences, no water. The realtor said $3,500 of the timber, $7,000 for the tillible.
There is no cheap ground any more.
My mom and her sisters inherited 65 acres. 20 tillible, 45 rough timber pasture. No fences, no water. The realtor said $3,500 of the timber, $7,000 for the tillible.
There is no cheap ground any more.
Caustic Burno
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Yep problem is finding another place as good as yours without going in the hole.
Place next to mine sold the other day.
Not sure what it sold for but they were asking 4 million.
Lee VanRoss
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Has anyone calulated the capital gain tax and the realator fee on a 'mega dollar per acre' sale?
I still think 'Location, Location, Location' will be the prime factor in the sale.
Nice thing about where I live is no matter what direction you head when you leave ,you are going someplace...........................
I still think 'Location, Location, Location' will be the prime factor in the sale.
Nice thing about where I live is no matter what direction you head when you leave ,you are going someplace...........................
littletom
Well-known member
It's going up I live 2 miles from county line. One side 1500 higher than other glad i live on the cheap side. But here it is different than other places. The farms got split up years ago. Now they are going back together. Farmers buying pieces to make their farms bigger.. Some hobby farming here. But alot of land owned and bought by full time farmers. My small general area not Ky in general
Dave
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I only paid $20 an acre more for this place than the people we bought it from did when they bought it 10 years earlier. Just no hobby farms around here. I understand places over around Baker City have been selling like hot cakes for seriously inflated prices.
Silver
Well-known member
Land seldom sells in my immediate area. Last quarter that sold was 6 or 7 years ago for 100K, which we all thought was 30K too high.
Of course, close to town is a different story, but that land isn't being being bought to pay for itself through agricultural ventures.
Of course, close to town is a different story, but that land isn't being being bought to pay for itself through agricultural ventures.
BigBear56
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My great uncles land sold 2 days ago for $9000/acre. 275 acres. Was appraised by the bank for $7200/acre. North central Ohio
BFE
Well-known member
Massilon Road, Albion, IL 62806 (For Sale MyStateMLS Listing #10960627)
Closest thing to me for sale. Rural water and electric available.
Closest thing to me for sale. Rural water and electric available.
kenny thomas
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Can you guys in row crop areas actually make $9000 an acre land pay for crops. I know for sure it won't pay for cow/calf
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Not even close Kenny. The guys buying that kind of land are multi generational and using equity to expand.
kenny thomas
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Ok why expand if its not profitable
Buck Randall
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Around here it's dairies that bid each other up to those prices or higher. It doesn't pencil out for someone to buy and start from scratch, but when you've already got seven+ figures invested in dairy barns and equipment, it's hard to put a price tag that's too high on land that borders it. When you start factoring in the cost to haul feed in and manure out over 30 years, and the fact that land is unlikely to ever get cheaper or more available, it makes sense.
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Most of it has 50% down, so on the cash flow side it looks ok. Now for the rest of the story.
1. Sons or daughters that want to come back and farm
2. Already have equipment to farm more acres.
3. Ego. Have land paid off and using it to buy more.
4. Dairy farms looking for land to spread manure.
5. Money earning nothing in the bank
6. Betting on the come. Land prices always go up******
**** = sarcasm.
kenny thomas
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I'm glad some places still have people wanting to farm. Its getting rare here. But ours is 99% grazing so not lots of crop land
SBMF 2015
Well-known member
Well they aren't making any more of it.
You forgot one.
7. If they own it one of the other big boys don't get to farm it.
Stocker Steve
Well-known member
Good lists, but you missed:
8) bad with math
9) sold half their Tesla stock
10) exchange
SBMF 2015
Well-known member
It
A couple years ago a young guy (23) bought an 80 for $12,500. The kid bought it, but grandpa wrote the check.
$4 corn probably wouldn't even pay the interest if he would have had to barrow the money.
A a good way to pass $ to the next generation without them having to pay inheritance tax.
A couple years ago a young guy (23) bought an 80 for $12,500. The kid bought it, but grandpa wrote the check.
$4 corn probably wouldn't even pay the interest if he would have had to barrow the money.
