I was wondering what people were having to give for good pasture/hay land around the country. Here in KY it ranges from a low of 1500/ac for not the best land to over 8-10,000/ac for any place that people think that they can "develop". Unbelievable. How is anyone expected to be able to afford any of this????
land prices
- Thread starter EKUgrad
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jerry27150
Well-known member
low interest & a good job or a rich uncle
jkwilson
Well-known member
The black prairie soil here in the western half of Indiana will bring $3000 to $3500 for farming if you get it in big enough chunks. Just east of that where the ground gets rocky and too hilly to run 12 row equipment, typically $1500-1700. A piece of the latter came up for sale a few years ago for $3300 per for 30 acres. Thought I was interested until I found out the price. Finally sold for $3000 to some moron, now everybody who has a few acres thinks it's worth that.
bigbull338
Well-known member
land prices here are from $500 to $1200 an ac an alot over priced i know of 30ac of bottomland for hunting sold for $1200 ac theres a 140ac pasture thats mostly wettlands next to it an they want $900ac all it really is wooded pasture with 2 hay fields on it an would carry 30 cows another place is 70 ac pasture an trailer house an thats priced at $2000ac both farms way over priced scott
jerry27150
Well-known member
talked to a lady at farm show, that used to live in this area, said she was barely making a living here & moved to kansas city & was making 90,000 a year. wouldn't take too many years to buy a farm. been telling people to let hunters hunt or they will just buy every farm that comes for sale & they are getting a lot of them
I have a decent job now and am expecting a good bump in pay in a little over a year, but I still don't see how anyone can afford it anymore. Even if you can buy the land, equipment and cattle costs will kill you. I cannot believe that I have gone to school as long as I have and will not be able to afford things that my grandad did on a 6th grade education....
of course I waste a lot more money than he ever did, so I am sure that does not help any....
of course I waste a lot more money than he ever did, so I am sure that does not help any....
EKUgrad":bn8kge76 said:
Hang in there EKUgrad. IF you want it bad enough you will find a way. You know they are not making anymore land. Once it's gone it's gone. What seems high today will be a bargain tomorrow. I only wish I had the foresight to buy the places around me 30 years ago for $500/acre. They are going for $10K/acre and up now. Of course many are getting split up because not too many people can afford a 100 or so acres at 10K an acre.
Does your grandpa still have the farm. Maybe if he knew you really wanted the life he might sell you some or make sure you have the opportunity to get it at some fixed price when he gone. I know of a lot of farms that got sold because the family remaining didn't want to farm.
D.R. Cattle
Well-known member
flaboy":1dnt65i1 said:
Abandoned citrus groves I could have bought for $3000/acre 5-6 years ago. Now selling for $100,000/acre plus. Bought my spread and built a house on it 5 years ago for 120,000. Appraised recently for over 500K. Gotto go to the woods to buy land cheap nowadays. And cheap means 1500/acre.
Try IL on for size. Flat black class A is going inthe range of $4400-$5500/a. Strip mine ground good for cattle $1900-$2200/a. Timder soil yellow clay is in $2500-$3000/a range. Lots of hunting and recreational types buying marginal ground. The prime tillable is mostly 1031 money. Don't want to talk about anything that can be subdivided.
Conagher
Well-known member
EKUgrad":35rrok5h said:
I feel your pain. Undergraduate and Masters degree and then 20 yrs of work before I could save up enough to get my ranch, and it's still short of what I want. Set your goal and establish a roadmap to achieve it, you can still get there.
EIEIO
Well-known member
We sold our farm in NW Arkansas last year due to a job change for my wife. It brought over 3K an acre but was near Eureka Springs and also had 1/2 mile of the Kings River running through it.
We moved here (biggest PITA ever) and bought 140 acres of improved pasture with scattered timber, another 20 plus acres of woods, 6 ponds (most all spring fed), 2 wet weather creeks, decent 2 bedroom home with basement, hay barn, barn, 2 pole barns, 2 other nice sheds, fenced and cross fenced all into 9 seperate pastures for 155K. It's 1.5 miles off the pavement and about 13 miles to the nearest town of about 3K.
Affordable land is out there but it's usually a long way from a city of any size and employement is tough to come by. My wife is a physician so she can go most anywhere and find work. If not for her job I would not be able to do what I'm doing.
J
We moved here (biggest PITA ever) and bought 140 acres of improved pasture with scattered timber, another 20 plus acres of woods, 6 ponds (most all spring fed), 2 wet weather creeks, decent 2 bedroom home with basement, hay barn, barn, 2 pole barns, 2 other nice sheds, fenced and cross fenced all into 9 seperate pastures for 155K. It's 1.5 miles off the pavement and about 13 miles to the nearest town of about 3K.
Affordable land is out there but it's usually a long way from a city of any size and employement is tough to come by. My wife is a physician so she can go most anywhere and find work. If not for her job I would not be able to do what I'm doing.
J
#$J%#$#$##$
I thought that I had found one....
the listing came up on Tuesday, found it that evening, called my realtor about it, was going to walk over it this Sunday.
now get this:
17 miles from the town where I am moving to
50 ac of KY river bottom land
5 barns
300ac total
priced at 1500/ac
Less than one week.
I am sick.........
I thought that I had found one....
the listing came up on Tuesday, found it that evening, called my realtor about it, was going to walk over it this Sunday.
now get this:
17 miles from the town where I am moving to
50 ac of KY river bottom land
5 barns
300ac total
priced at 1500/ac
Less than one week.
I am sick.........
bigbull338
Well-known member
its geting to the point if you want land your gonna have to jump out there an just nuy it hope you have a good banker 300acs on a 30yr note would be about $2000 a month payments
EIEIO
Well-known member
When we went looking for a new farm I did not stick with just one realtor. I really consider them the used car salesmen of land no matter how nice they seem. I called every single realtor in the area we were looking at moving too and was up front with each and told them what we were wanting and said whoever found me the farm I wanted first got the sale. Some don't participate in a multi listing type agency and even if they do they don't like splitting their commision with a realtor from another company or one in their own office for that matter. Since the area was a distance away from where we were living we also subscribed to the local paper to keep an eye out for FSBO type properties.
Have ya' been out to the countryside where you are wanting to buy yet and got a "feel" for the area? We sure did before moving and it really helped us decide when this place came up for sale.
Have you been to the bank yet and got any kind of pre-approval for a loan. Banks don't want to lend on just land unless you have usually at least 20% down. We currently use the "good ole boy" bank that's small town friendly and they have our whole place financed on one loan that's at a fixed rate however we are getting ready to build a new home and we will be using another bank that is making us have the home and a 40 acre tract on one fixed Fannie Mae type loan and then the old farm house, buildings, and remaining 120 or so acres on another loan that's of a higher intrest rate.
Arkansas had a great Farm Credit bank. Heck if you got a loan from them you were a member. All farm/home loans were fixed and cost only $500 for everything even if a survey was needed, when your loan was paid for you even got your $500 back. To top it all off since it was a credit union you were part owner and actually got a check from them every year. Our loan was high enough that our check from the profits they made every year would make one home/land payment. Sure ain't that same way here in Missouri.
Good luck finding a place. Do you know anbody that can help you look that lives in the area and even try to find a FSBO property?
J
Have ya' been out to the countryside where you are wanting to buy yet and got a "feel" for the area? We sure did before moving and it really helped us decide when this place came up for sale.
Have you been to the bank yet and got any kind of pre-approval for a loan. Banks don't want to lend on just land unless you have usually at least 20% down. We currently use the "good ole boy" bank that's small town friendly and they have our whole place financed on one loan that's at a fixed rate however we are getting ready to build a new home and we will be using another bank that is making us have the home and a 40 acre tract on one fixed Fannie Mae type loan and then the old farm house, buildings, and remaining 120 or so acres on another loan that's of a higher intrest rate.
Arkansas had a great Farm Credit bank. Heck if you got a loan from them you were a member. All farm/home loans were fixed and cost only $500 for everything even if a survey was needed, when your loan was paid for you even got your $500 back. To top it all off since it was a credit union you were part owner and actually got a check from them every year. Our loan was high enough that our check from the profits they made every year would make one home/land payment. Sure ain't that same way here in Missouri.
Good luck finding a place. Do you know anbody that can help you look that lives in the area and even try to find a FSBO property?
J
