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O/T Land prices....

C

ChrisinMO

Member
A few years ago I was looking into buying some land. I decided against it as even large tracts of land in our area were going for $3k+ in our area. In some areas that might not be out of line, but around here that was too much.

Yesterday I was talking with a fellow I will be making hay for. He just bought 60 acres to add to his farm. He paid $2300 an acre for it. It's really nice land and not many rocks compared to most of the land around here. Gee, I thought prices might come down, but I guess not much.

Christopher
 
We just purchased a neighboring bare 49ac @ $3100. Land lasts as long as 2 days around here these days.
 
little town in western NC ,17 acres next to me they are asking .11.5 per acre. i said thanks for asking me first ,but NO THANKS, with a smile.if my land is only worth 3.2 per, how do they come up with 11.5 . i took the bus but not the short bus lol.
 
In our area in Westen New York most farms are
over 1500 acres. The little bit of land that
comes up for sale is "add to land" for these
farms. The price is usually over $2500/acre.
It is needed to meet CAF0 or similar reasons.
The prices are high because the land does not
fit the traditional model of cash flow.
 
We're assessed at $2300 an acre here in mid Michigan,but 1000 acres just sold for $4000 here. Kicker is,it's in Christmas trees and comes out gradually. I'm told it will be 7 years before they have the last of them cut so they can start clearing stumps. It sold for potato ground.
 
But it will grow maybe 100 bushel corn. I looked at a database recently of corn yields by county. Some counties in N. Michigan report yields as low as 50 bpa. Can't see it paying to crop that.
 
In my area you can still find it under $1500 per acre shoot I had a chance a few years ago to buy 30 acres for $25,000 but didn't have the $$ to do so
 
Not sure where in MO you are, but here in the west central part of the state there was 150 acres of good ground that went for $7500 this spring (farmer bought it). Plus, land still looks good to outside investors, and cash rents are pushing $300/acre.
 
Around here Western N.Y. if it is potential
potato ground all bets are off. We have had
Wall Street hedge funds bid the price up to
the point where only they or God could buy it.
 
When my dad sold the farm a few years ago we had a closed bid auction and the highest bidder got the land. It was 400 acres and sold for aroung $2300 an acre. This is in the southeast part of Nebraska near Falls City. The man who bought it does costum farming on it now.
 
Makes the 375 an acre I've got invested in this 240 acres seem cheap. I wish I'd given more for it so I'd have something to talk about.......
 
I am not a google guru (or any other kind ) I just googled corn production by state county. I saw Benzie county only reported 32 bpa in 07. Only a couple thousand acres in corn tho. The Michigan average is only abut 130 bpa. Guys in Iowa would probably sneer at that kind of yield.
 
One hundred and fifty acres sold right next to me for $8200 per acre. Farmer that bought it lives across the county. CSR was in the 90s good ground. That is in Jones County Iowa.
My family is from Southern Ohio, east of Cinn. Any ground under 20-30 acres is bring $15000-20000 there. Larger tracts are going in the 3000-4000 range.
 
In west central ohio an 80 acre farm just sold for 11000 per acre,not for developement either.
Most sell in the 5500-7500 range.A lot of farmers have made big bucks in the last couple years and are reinvesting there cash.
 
When my dad sold the farm a few years ago we had a closed bid auction and the highest bidder got the land. It was 400 acres and sold for aroung $2300 an acre. This is in the southeast part of Nebraska near Falls City. The man who bought it does costum farming on it now.
 
Thats me, I was really surprised it had gone down that much. What I've been seeing here is some declines in the land selling for 7000 an acre an up. Declines in real estate and the horse industry are hurting the high end land markets. But, good general farming ground is still holding in the 4200-5500 range.
 
here in northwest Ia land brings 7/8000 an acre but a lot of it fits into manure disposal plans. even at 350 rent it might be cheaper to not own as you can walk away easier. to pencil out the land you need a shsrper pencil than mine
 
In western SD I gave $115/acre in 1992. Didn't have any other land, so it had to pay for itself. It did, but barely. Now, that same land would bring $500-600/acre. Wheat, which is about the only CONSISTENT crop that can be grown, prices are not any better than they were in 1992. Expenses have gone up. Just don't know how people are doing it. We are getting by with old equipment, doing almost everything by ourselves and are just squeaking by. Sunflowers work in some years as does corn, but as a rule, we do not get enough moisture in July and August to make most row crops work. But yet, the land prices continue to rise.
 
Tennessee about anything brings $2500.00 and if it is real productive farm land may go as high as $6,000.00 The fellows buying land for hunting have eased of a litle but still a lot of people hunting just what we call old raw land.. Scrub timeber and hills if it has deer and turkey and maybe a good creek look out the sky is the limit if these doctors & lawyers find it.Lot of people got burnt in the stock market and have taken that money and invested in land...
 
I had 3 offers on 4 acres for $130,000 a few years ago but the A$$ hole neighbor fought the building permit and the whole thing fell though. Now it ain't worth the bother to list it. the he up and sold out an moved. real BUMMER
Walt
 
The Amish have really screwed up the land prices around here. Five years ago they started selling their farms in IN for 6,000/acre or more then they came up here WI and started buying land like crazy in cash. At the time they could have gotten the land for $2000/acre. Instead of checking land values they sought out retiring farmers and offered $4,000/acre cash for sand! Thanks to them, a young "english" farmer can't even get started here. The school in the next town over is on the brink of closing because they don't send their kids to the public school. Last I heard the land values were pushing $6,000-10,000/acre depending upon how much and what part of the "settlement".
 
$15,000 an acre in Howell, MI and that's down from $90,000 an acre about 4 years ago. Guess fool's money was plentiful back then.
 
Land next to mine, 6,000 per acre. All wooded and ledge with almost impossible access to it.
Not uncommon for someone to pay 17,000 per acre for a wooded lot in my area.
 
Missouri the lake of the Ozarks area. Land out of the way and out in no where sells for cheap $$ but try to buy on the lake and it can/will cost you $1000-3000 per foot lake front.
 
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