insane land prices
- Thread starter Bszweda
- Start date
4wanderingeyes
5 year old buck +
Hell if anyone is interested I have 228 acres for sale in northern MN, with an old farm house. It hasn’t hit the market yet, but I am hoping for a private sale.
jsasker007
5 year old buck +
Where is northern minnesota? I'm central and always looking. Nice chunk of land.
We recently did a FSBO on a lakefront lot on Lake Martin, near Dadeville AL; been in the family for over 60 years, but none of us had used it since before 2005.
0.64 acre, 125 ft water frontage, flat, partially wooded, electricity & county water, but no septic. No covenants, no restrictions.
Had two appraisals, @ $125K & $165K; sold for $240K. It's crazy...but good, if you're the seller.
0.64 acre, 125 ft water frontage, flat, partially wooded, electricity & county water, but no septic. No covenants, no restrictions.
Had two appraisals, @ $125K & $165K; sold for $240K. It's crazy...but good, if you're the seller.
4wanderingeyes
5 year old buck +
I made a post in the classifieds just now.
bwoods11
5 year old buck +
Not seriously looking, but I might know of someone? Price per acre?
4wanderingeyes
5 year old buck +
I posted it in the classifieds.
PatinPA
5 year old buck +
Land prices have been crazy around me for a while now. Anything under 50 acres is $7-10K an acre for woodland that has been timbered already. There is very little for sale though. I think that's driving up the prices. House prices are insane here right now. Everything is going for 10-30K over asking price.
It's the fed's job to say inflation is transitory. No one knows what will happen.
If inflation continues onward at 4-5+% with no sign of cooling off the fed will be forced to raise rates.
That will cause major problems for all debtors considering everything is obviously priced based on what monthly payment people can afford.
Lately I have been wondering if crypto is a symptom of this long term 0% interest rate policy. If 10 year treasuries were paying 6-8% who in their right mind would be buying cryptocurrencies?
If inflation continues onward at 4-5+% with no sign of cooling off the fed will be forced to raise rates.
That will cause major problems for all debtors considering everything is obviously priced based on what monthly payment people can afford.
Lately I have been wondering if crypto is a symptom of this long term 0% interest rate policy. If 10 year treasuries were paying 6-8% who in their right mind would be buying cryptocurrencies?
Native Hunter
5 year old buck +
And the government loves the inflated land prices, because that means inflated tax dollars out of our pockets into theirs. It’s almost a no win situation. Even if you invest in real assets, they drain you through taxes.
Boll Weevil
5 year old buck +
I sold a piece of ground back in February for three times what I paid for it about 10 years ago.
Bill
Administrator
Yep,
I sold a beach house for a 45% profit after 4 years. Bought another a week later. Much smaller house but with a great lot, two stones throws from the beach.
When it was all over I made $1.00
but I’m now two stone throws from the beach.
I got lucky, because I had the cash and put an offer in, above ask, an hour after it was listed.
I never would have done any of that if there wasn’t an ocean involved. Hopefully it turns out to be my son’s retirement, if we’re still a republic when he retires.
Tree Spud
5 year old buck +
Bought an Ocean front lot back in Dec. Offer was in 2 hours after it listed, paid cash and got it for $5k below asking. Closed in 20 days. Tried buying 2 other lots previously and had our cash offer in within 48 hrs. We were 1 of 7-8 back-up offers. We have been working with this realtor for 2 years and got to know her very well. She lives 2 blocks from our lot and pretty much knows everyone and gets 1st listing opp with many.
Learned that if you were not ready to submit an offer within a couple hours of listing you were going to be a spectator. Was a little worried that we overpaid. Figured that as it was our retirement place value would catch up with what we paid.
Have been contacted by 2 separate private buyers asking if we want to sell. Based on what we have seen with neighboring land prices last few months, could probably put on the market for 40-50% over what we paid for it.
Tree Spud
5 year old buck +
If you are looking for a nice little get away cabin with some decent hunting, check out this fixer upper ... 
www.whitetailproperties.com
Edenwood Ranch Preserve In South Central WI | Whitetail Properties
Stunning high fence hunting and vacation retreat. Successful operating business making this property a great investment opportunity.
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chad.williams
5 year old buck +
Looks like Bill Winke’s old Iowa farm is up for sale: https://www.whitetailproperties.com/hunting-land/iowa/monroe/dream-big-with-the-iconic-winke-farm
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Sent from my iPad using Tapatalk
Howboutthemdawgs
5 year old buck +
Winke definitely sold too early and/or didn’t price it high enough initially. I think he sold it for half of that price 3-4 years ago.
Mortenson
5 year old buck +
I thought he sold for 3 something per acre. The bigger problem was he probably waited too long to buy his new ground. Didn't he wait a year or more? In the meantime replacement acres went up sharply plus he bought in a richer hood.
Howboutthemdawgs
5 year old buck +
Yeah I remember he leased for a bit. But 3 something an acre is way cheap for that ground in my opinion
Foggy47
5 year old buck +
Played golf with a couple of guys yesterday.....and talk turned to land prices, cattle prices, and home prices. (food and etc.)
1. A rancher I played with buys calves.....normally in fall and then feeds them out over the spring and summer at his ranch in Colorado. Land was located in popular ski area at about 6000 feet elevation. All needs to be irrigated to make hay for the cattle (water comes from impoundments at higher altitudes.). Asked him the land prices there....and he said he doubted you could buy land for $30,000 acre now. All big California money trying to buy up ranches. Told me he tried to buy calves....and he was having to pay almost $4 / lb (live weight) for calves. Said that he had to grow em to 900 lbs over the summer and no way he could pencil out a profit. Gonna try to sell his hay this summer and sit it out.
2. A Canadian guy was just up in western Canada trying to buy a home there. Said homes were being bought at insane prices by Chinese people.....and then renting them out. Said the prices were insane....and he could not get himself to buy a home.
3. I get "the farmer" newsletter each day. NW Iowa farmland just sold for $30,000 an acre. Two 80's were sold. Good land.....and fully tillable. Just a benchmark. Not sure anyone can make that "pay".....but most will never come to market again in your lifetime.....so....if you got manure to spread or want to grow.....that becomes your option.
4. Not much adds up.......but, I suppose folks do not want to get caught holding cash?
Seems to me that stocks would be a better haven right now......but what do I know?
1. A rancher I played with buys calves.....normally in fall and then feeds them out over the spring and summer at his ranch in Colorado. Land was located in popular ski area at about 6000 feet elevation. All needs to be irrigated to make hay for the cattle (water comes from impoundments at higher altitudes.). Asked him the land prices there....and he said he doubted you could buy land for $30,000 acre now. All big California money trying to buy up ranches. Told me he tried to buy calves....and he was having to pay almost $4 / lb (live weight) for calves. Said that he had to grow em to 900 lbs over the summer and no way he could pencil out a profit. Gonna try to sell his hay this summer and sit it out.
2. A Canadian guy was just up in western Canada trying to buy a home there. Said homes were being bought at insane prices by Chinese people.....and then renting them out. Said the prices were insane....and he could not get himself to buy a home.
3. I get "the farmer" newsletter each day. NW Iowa farmland just sold for $30,000 an acre. Two 80's were sold. Good land.....and fully tillable. Just a benchmark. Not sure anyone can make that "pay".....but most will never come to market again in your lifetime.....so....if you got manure to spread or want to grow.....that becomes your option.
4. Not much adds up.......but, I suppose folks do not want to get caught holding cash?
Seems to me that stocks would be a better haven right now......but what do I know?
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