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Tractor Talk Discussion Forum

Price of ground?

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Pat L

01-23-2005 10:00:35




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Price of farmground around here( Portland Ore. area) is now going for up to 10,000 an acre and being purchased by large nuserys. Just wondered what it is bringing in other parts of the US.Might be time to sell and move.




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RickL

01-24-2005 06:07:11




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Varies here too but still all types up. 3500-0ver 5000.00 farm ground,pasture land 1850-3000



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leland

01-24-2005 05:59:40




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
People that I know paid $250,000 for less than an acre to build car wash on.



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JT

01-24-2005 09:25:20




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 ` in reply to leland, 01-24-2005 05:59:40  
Leland, when I went to looking for a place to move my shop, I found ground anywhere from 85,000. for an acre to over $400,000.00 for less that an acre. So, needless to say signed a 5 yr lease on a nice huilding. The $85,000.00 lot was off the beaten path, no on a busy street.



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leland

01-24-2005 18:48:50




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 Re: `land prices in reply to JT, 01-24-2005 09:25:20  
Your right JT but I liked your old location better I guess being east of 55 has not hurt you any has it.



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L.C.Gray

01-23-2005 19:52:58




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Land here in north central Texas is on its way up. They've begun exploring the Barnett Shale formation heavily for its rich natural gas deposits. The speculators are coming in this area and buying the available land and imediately relisting it at the same price. They're just flipping it to hold the mineral rights.

They tell me that tractors and equipment have also gotten high with brisk sales as the farmers, dairymen and ranchers look for deductable items to offset the $150 to $600 per acre the oil companies are paying for the 3 year mineral leases.

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Dave From MN

01-23-2005 17:44:37




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
I paid 1650/ acre for my 40 the 2 months later the neighbor got 6000/acre for a 40. Person i bought from was kinda depressed after that. Looks like i will have to do some saving if I want the other 30



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kyhayman

01-23-2005 17:20:35




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
All over the board here. Went to one break up sale this fall and got a small tract for $6300 an acre. Sold 8 tracts that day and everyone that really wanted one got in. Rough ground but it had real development pressure. Last spring got in on one the day it went up and after selling off a couple of 5 acre tracts had less than $500 an acre in it. In this market you have to be ready to strike fast and pay cash but can do decent.

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2x4

01-23-2005 15:51:57




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
we just paid $2000/acre for river frontage (1/2 mile)in Western Tenn. Nice brick home, barn, machinery shed, etc. 85 acres bottomland that doesn't flood & is flat as a tabletop. 100 acs rolling pastures, 65 ac. young woodland (no timber value). They threw in Ford 4600 w/loader & 7 implements, jeep, tools, furnature. It is fenced. seemed like a bargain to us.



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jdemaris

01-23-2005 13:59:36




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
I bought an extra 35 acres two years ago here in central New York State (Otsego County) - 1/3 tillable, the rest hilly with young hardwoods and springs all over and absolutely beautiful views - paid $400 per acre, but that was a bargain. Tax assessor put it at $1200 per acre but I protested it got it lowered to $700. I bought 8 acres in the southern Adirondacks last summer (Hamilton Co., NY) and paid $36,000. Seemed real high to me but my wife and I had been searching in that area for a long time and prices just kept going up. We've already been offered $50,000 - which does us no good since we don't want to sell it. I've also got 50 acres of rural woods and wetlands on the Tug Hill Plateau in Jefferson Co. Northen New York. Paid $10,000 for it five years ago, i.e. $200 per acre. I maintain a local website for a real estate company so I get to see the price trends. Up to a few years ago, in this area of Otsego County, raw unimproved land with some decent views and maybe a creek or pond, in large parcels was going for $700 per acre. In small parcels (under 5 acres, maybe $1000 per acre). Things seem to at least doubled lately. We've lost most of our dairy farms, but at least many are NOT being subdivided. Some are become horse farms, or gentleman farms, and also the Amish are moving in from the state of Maryland.

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Jonboy

01-23-2005 13:04:58




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Price of land is skyrocketing everywhere, even if it's poor land the value is still way up there. In my neck of the woods the land is getting broken up for housing, they'll buy a few acres and build 10 houses on it. The price of land is terrible, but then, if you can just hang on to it for a few years, you'll make more money than by farming it. Theres nothing anybody can do except buy a piece of land and struggle to pay for it. In my neck of the woods people are building big elaborate houses, not small ones, because of the low interest loans, but I'll bet they may be sorry as prices of everything contine to soar. Land prices isn't all thats gone up, take a look at food and everything else. It sure is going to be an awful thing when you go to retire and still owe massive amounts of money.

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Davidj

01-23-2005 13:00:17




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Eastern Ontario, 2 or 3,000 per acre for perfect land depending on who wants it, near the higher end for large, flat tiled fields. My land here is hilly and wet but at least it"s stoney making it worth maybe at best 500/acre. Worth more as real estate than anything else. The old 100 acre farms are around 175,000 for a not very fancy house and barn and small fields but they"re getting harder to find. I bought here for 60,000 in 1993 and it could easily fetch twice that and the place is a neatly kept 110 acre dump. Picked up my 25 acre sugarbush for 12,000 in 2003 which was probably the best deal I"ll ever get in my lifetime. As the cash croppers get bigger and their cash flows increase, land will get harder to find in good farming areas for us small time farmers

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Migraine

01-23-2005 12:41:53




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Two pieces of farm ground recently sold here in the northwest part of Washington state. One a 30 acre parcel going into raspberries and a 200 acre former dairy farm at 3 million dollars. Yes that's the second or third farm here that has sold here for 14 to 16 thousand an acre. Not much room for the little guy to play any more. No way you can farm that out of it so they must be averaging with their already paid for base land and hoping to be sold for homes in their later life,or they know something about farming that the rest of us don't. A 8000 sq ft lot in town areas now sells for 85 to 125 thousand Ouch !

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Roger in St.Louis

01-23-2005 11:53:30




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
mom paid $600 in 1989 for a piece of land 4 x 6 foot to plant dad in. Havent seen much more expensive than that per acre.



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8nNewbie

01-23-2005 11:16:11




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Hi,Up here in northern New York,when I say northern I mean right up on the Canadian Border,farmland is going anywheres from $400 to $600 an acre.All the dairy farmers are gone and you have trouble even renting your land.I just bought 60 acres adjoining my 85 acres for $16,000 plus attorneys fees.Even up here that was a good buy.The amish have started moving in and buying all the old farms,so I suspect prices will climb.I am now paying $3k in taxes for my houe and acreage which I thought was high.Land is cheap but it is desolate up here as far as jobs go.If you are independently wealthy and love the cold,this is paradise.

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caseyc

01-23-2005 10:27:21




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
five years ago good farm ground was 1000-1500 and pasture was around 500-800. i'm trying to buy 172 acres right now and it's in the 2000-2500 range. good pasture is bringing 1000-1500. i can make it pay at 2500 but if prices ever dip in the next 2-3 years i'm in trouble. not sure what too do yet???? i'm in eastcentral SD.

casey in SD



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Rauville

01-23-2005 15:35:03




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 Re: Price of ground? in reply to caseyc, 01-23-2005 10:27:21  
Casey;
Just looked at the sale bill for the land that you are talking about. Sounds like a nice layout. Being tiled must be a good selling point, isn't it? Hope it stays in your price range. (By the way Casey, I live just north of the Rauville Bar on old highway 81.) The city of Watertown just bought 160 acres north of town along the river a couple of weeks ago. They paid $950 / acre with a NO cost lease back to the original owner thrown in. A few weeks ago, 400 acres of grass / pasture (mostly rock and native grass) sold at auction for $785 / acre.

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old

01-23-2005 10:03:45




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 Re: Price of ground? in reply to Pat L, 01-23-2005 10:00:35  
Got 11 more arces a couple years ago at $850 per, same land now is around $1500 per. Every thing is going up other then what I get in my back pocket.



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chris mf135

01-24-2005 17:32:51




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 Re: Price of ground? in reply to old, 01-23-2005 10:03:45  
in upper east tennessee (tri cities) 15,000 for a quarter acre lot to build on is cheap. mountain land (straight up) is 2000 or so an acre if you buy 25 or so, rolling farm land will get you at least 10,000 an acre. and the employers say the cost of living is cheap here. the only thing cheap is them.



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