LAND PRICES WHERE ARE THEY HEADED?
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Red Bull Breeder
Well-known member
It's not going to matter what the price is an't nobody going to have the money to buy it. Arkansas Game an Fish bought 2800 acres just north of me last summer gave 3000.00 per acre. That really screwed things up around here.
Jim62
Well-known member
You think $3000 per acre screwed things up?
Try $30,000 per acre...........
Try $30,000 per acre...........
Red Bull Breeder
Well-known member
Jim 62 thats screwed for sure. But AGF more than doubled land prices in this very rural and remote area, where i live the land they bought would have maybe apraised 1500.00 per acre. 114 acres joining me sold at action for 180000.00 which is almost 1600.00 per acre. The money guys around here bought it trying to sell it to AGF.
ROCKSPRINGS
Well-known member
Red Bull Breeder":1v7xqzxg said:
Thats better than a subdivision any day at any cost. :cboy:
Red Bull Breeder
Well-known member
Very true Rocksprings very true.
bigbull338
Well-known member
raw land prices will keep going up.because theres no more land.the only way they will dropp is if the banks start repoing alot of land.
TexasBred
Well-known member
Auburn_Ag":3p3e0jwf said:
Don't think you'll see a cycle in land prices. Nothing but up. Same for new houses. Materials are sky high so price will remain high. Some might downsize some to offset the cost of building the new house but. Real estate will probalby bounce back in 2nd half of '08 once we get these folks out of those sub-prime loans that never should have been made to begin with. Banks as well as buyers are to blame. The bank knew better and the borrower knew he was moving into something he could never afford. Foreclose, and put it back on the market for what it's worth and at a legitimate interest rate and get a qualified borrower.
TexasBred":240zqdb2 said:
I was told the other week that housing would not fully recover till 2010. I like your prediction better, especially as we look seriously at relocating. Had the house on the market last summer and took it off after four months. Nieghbors did the same, only their's was on for a year with no offers.
I see cheaper land up where we are looking around, but not by a lot. I am trying to get out away from Dallas/Fort Worth, farther than it is worth to commute. Husband works in Bonham during the week and lives in Sherman. We stopped looking for a while til we see what the market's gonna do.
On the upside, we can always buy one of those fine Clayton products my husband builds and live in that! :banana:
denoginnizer
Well-known member
In my area dirt prices have gone down 200-300 per acre.
TexasBred":1y95a5h1 said:
I respect your opinion, and as we all know across the U.S. there are many different types of markets. Some markets will feel the turn and some will not. What I should have said is that for my market area, we are seeing a current down turn in the market. I have the market data to prove it.
Our area, prices are holding the same. Or better.
Sellers got spoiled in that you could turn land over for quick money.
We dont have that anymore, but the prices are still very strong and growing.
Now if you want to get remote. Yes they have taken a hit but not much.
Sellers got spoiled in that you could turn land over for quick money.
We dont have that anymore, but the prices are still very strong and growing.
Now if you want to get remote. Yes they have taken a hit but not much.
dieselbeef
Well-known member
theyve come down here some...from round 50.000/ac to 25.000/ac
TexasBred
Well-known member
Lammie":29k92dhq said:
Lammie...I know where Alvarado is and figured your housing market would be hot the way the area is growing. Nothing but new building from you to Ft. Worth on I-35. But yeah...get you a piece of land over there around Venus and drop that Clayton in there. You'll fit right in. :lol:
TexasBred":20rfdlze said:
The Homesteads! Most of my students live there. It's a lot better than it was 10 years ago. I would drive there at night now. Used to be everyone cooked meth over there. It was real wild west stuff.
I think a lot of the new construction was a part of that sub prime thing. Really, poeple getting houses they had no business getting. We put it on the market right as the money started to dry up. As for our neighbors, well, he got in on the tail end of the inflated prices and he priced himself out of the market early. By the time he lowered several times, he had missed the boat and everyone had seen it. It's really dated, too. He was selling his mineral rights with his place, though. One of the few.
Crowderfarms
Well-known member
Land is slow moving around here now.BUT if it's an auction sale or a Farm being cut up, land sells like there's no tomorrow. I will say that I gave a house to a realtor buddy to sell a week ago, and this afternoon, we got a contract on it with a buyer that wants to close next week!!!!! :lol:
Crowderfarms":1etdt67a said:
Man, you are lucky. Houses languish on the market here. New construction has slowed a lot, too, even with new folks moving into the area. I hope that's the case when I go to sell this place.
Not sure about other places, here in Texas:
Although sales are down, price per house/ acre is up. More money although fewer sales.
Texas A&M predicts a steady increase in land and house value over the next 25yrs unless we hit some thing like in the 80s with oil.
It is a buyer market right now... buy buy buy... land/ houses are is going up up up.
Interest rates are going to slowly start going back up.
Dont get ARMs with out caps... :lol2:
Although sales are down, price per house/ acre is up. More money although fewer sales.
Texas A&M predicts a steady increase in land and house value over the next 25yrs unless we hit some thing like in the 80s with oil.
It is a buyer market right now... buy buy buy... land/ houses are is going up up up.
Interest rates are going to slowly start going back up.
Dont get ARMs with out caps... :lol2:
