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  1. #11
    Silver Member
    Join Date
    Nov 2011
    Posts
    129
    Location
    West Tx.
    Tractor
    Kubota B2620

    Default Re: Whats everyone thing land prices are gonna do...

    I think that prices will rise over time, but I think that taxes will rise significantly as local governments look for more money.

  2. #12
    Super Member Gary Fowler's Avatar
    Join Date
    Jun 2008
    Posts
    7,201
    Location
    Bismarck Arkansas
    Tractor
    2009 Kubota RTV 900, 2009 Kubota B26 TLB & 2010 model LS P7010

    Default Re: Whats everyone thing land prices are gonna do...

    We paid $2250 per acre for 40 acre tract in 2008, now advertised prices are $5000 to 10,000 per acre depending on location and size. Smaller tracts are more than larger ones. I dont have a clue if they are getting anywhere close to the asking price though. The land anywhere close to me is very rocky and only good for pasture whereas 50 miles south is pretty well sandy clay loam which is good farm land. The $5000 per acre would be hard to make payments on farming and I have no idea what a farmer would raise to make a payment on $21K per acre (4% per annum would be $840 per year interest +1020 in principal @ 20 years) Only marijuana growers could make enough money on an acre to pay that kind of money for farm land. A land speculator might make his money back on sub-division property by buying and developing it into a community if it was close enough to a city AND the local economy was good for housing.
    Not much in the way of row crop planting ie corn, soybeans,cotton, wheat etc. would bring in enough money to justify paying $5000 per acre unless you were investing cash money as a hedge against inflation. Borrowing money to buy land at those prices would never return your investment.
    2010 LS P-7010C 20F/20R gear tractor & FEL, 2009 Kubota B 26 TLB, RTV 900 Kubota,17 foot Lund boat with 70HP motor, 2012-20 ft 12k GVW trailer, 2011- 52" Craftsman ZTR mower, 2013 Ferris Zero Turn, 3 weed whackers, pressure washer, leaf blowers, 7 foot bush hog, 8 foot landscape rake , 8 foot 3 PH disc, 2 row cultivator, 350 amp Miller AC/DC welding machine and all the tools needed to keep them all repaired and running.

  3. #13
    Silver Member Bday's Avatar
    Join Date
    Dec 2012
    Posts
    176
    Location
    Lucerne, IN
    Tractor
    53' Allis WD, 54' Allis WD 45, 52' allis CA, Farmall 560, 656 , 47' Deere model A , 38' Deere model A

    Default Re: Whats everyone thing land prices are gonna do...

    Had a farm auctioned off last month here in northern indiana went for $11,000/ acre. In 1994 farm ground was $2000/ acre. I'm waiting for the ethanol bubble to burst!! That's what's driving the market here.

  4. #14
    Veteran Member
    Join Date
    Apr 2011
    Posts
    1,036
    Location
    Boston
    Tractor
    L3700SU

    Default Re: Whats everyone thing land prices are gonna do...

    I'm not a farmer. I have bought and developed land for residences here in Mass. Buildable lots ( nice ones) are tough to come by out here. That being said, a "nice" 1 acre lot will set you back about 200k in the raw. A real nice 1.5 acre lot is north of 225k. Builders are just not blowing them out and taking the hit. They are willing to hang on to them. I first started buying property in 1997, my first buy was a home for 181,000 I sold it 9/01/01 for 325,000 ( we did moderate upgrades, about 45k worth) That home today would not fetch 300k. There are properties on the market that are listed for 100k less than it would cost to reproduce. The only thing that will push land/ home prices up is if the banks quit squatting on the purse and govt creates different programs that let banks lend again.

  5. #15
    Advertiser sweettractors's Avatar
    Join Date
    Jul 2003
    Posts
    7,148
    Location
    Central Kentucky
    Tractor
    JD 6403 CHA-JD 3130 CHA

    Default Re: Whats everyone thing land prices are gonna do...

    If you can buy land with young timber, you will be in the cat bird seat. You will eventually have mature timber to harvest and more importantly, before long, you will be allowed "carbon credits" to offset the carbon you and your family are responsible for producing. Ken Sweet
    http://www.sweetfarms.com/

    Sweet Farm Equipment LLC (Internet Sales, Shipping All States)
    Shipping Facility
    1815 Defries Rd., Canmer, Ky 42722 Toll Free 1-866-528-3323
    Ken Sweet sweet@scrtc.com

    Shipping Example: Can ship 800 lbs from Ky. to Dallas for $165
    The Northeast shipping corridor is a little more expensive.

  6. #16
    Veteran Member Rustyiron's Avatar
    Join Date
    Mar 2011
    Posts
    1,193
    Location
    Lakes Region, Maine
    Tractor
    M 9540 Kubota

    Default Re: Whats everyone thing land prices are gonna do...

    Quote Originally Posted by ATP View Post
    What are land prices gonna do over the next 5-10 yrs....20 yrs......?
    Good time to buy at current rates...?
    thanks for input....
    Good question! I just hope the past 4-5 years is not the "new normal" that you keep hearing in the new vernacular of the left. Who knows anymore, things are getting incredibly off track in this country in my opinion, and will soon be damaged beyond the hope for any quick fix's.
    I did not intend to get "political" here, all I know anymore is, have enough land to grow what you need to live, including firewood (heat) and be able to defend it! (both r.e taxes & otherwise)
    Every issue I get of "Progressive Farming" shows these unreal prices paid for farmland in the mid-west. This is an exception in R.E. but like the stock market, falsely proped up (by ethanol and large agri-business).
    ]We need more people to WORK for a living and less people to VOTE for a living!
    (proven on 11/6/12)

  7. #17
    Super Member dave1949's Avatar
    Join Date
    Apr 2009
    Posts
    9,566
    Location
    Industry, Maine
    Tractor
    New Holland TC40

    Default Re: Whats everyone thing land prices are gonna do...

    I am definitely not in the ethanol bubble here, the dog did make some methane last night.

    Property (bare land) values, excluding large timber tracts, here are stagnant and probably back to year 2000 levels, if you can find a buyer. Our land sales are fairly dependent on out-of-state buyers having enough disposable income to buy second home/vacation/recreation base/retirement properties.

    I doubt if there is much money to be made by buying land here now and holding it for say ten years. The exception might be to buy from someone who has to unload a nice waterfront parcel now, and is selling at a reasonable price. Property taxes will take 2% to 3% off of any annual gains.
    Last edited by dave1949; 01-24-2013 at 11:05 PM.
    "Those were the days my friend, we thought they'd never end ..."
    When there is a huge solar energy spill, it is called a "nice day"!

  8. #18
    Elite Member zzvyb6's Avatar
    Join Date
    Dec 2006
    Posts
    2,543
    Location
    michigan
    Tractor
    jd 1070

    Default Re: Whats everyone thing land prices are gonna do...

    The Asians will probably start bidding on the choice parcels. They have the money they have the forethought and they have many to thank for all the purchases made by Americans.
    There is no "I" in team, but there is a "Me" if you want to jumble it up a bit...

  9. #19
    Veteran Member Rustyiron's Avatar
    Join Date
    Mar 2011
    Posts
    1,193
    Location
    Lakes Region, Maine
    Tractor
    M 9540 Kubota

    Default Re: Whats everyone thing land prices are gonna do...

    Thank goodness for them, ...the people from away. As much as they may interrupt your town in the summer, they pay a ton of prop taxes in ours!
    ]We need more people to WORK for a living and less people to VOTE for a living!
    (proven on 11/6/12)

  10. #20
    Advertiser sweettractors's Avatar
    Join Date
    Jul 2003
    Posts
    7,148
    Location
    Central Kentucky
    Tractor
    JD 6403 CHA-JD 3130 CHA

    Default Re: Whats everyone thing land prices are gonna do...

    Quote Originally Posted by zzvyb6 View Post
    The Asians will probably start bidding on the choice parcels. They have the money they have the forethought and they have many to thank for all the purchases made by Americans.
    Ain't it ironic that we have bought their junk and then time comes around when they buy our prime farmland? What do we have for our money spent? What do they have for their money spent? Ken Sweet
    http://www.sweetfarms.com/

    Sweet Farm Equipment LLC (Internet Sales, Shipping All States)
    Shipping Facility
    1815 Defries Rd., Canmer, Ky 42722 Toll Free 1-866-528-3323
    Ken Sweet sweet@scrtc.com

    Shipping Example: Can ship 800 lbs from Ky. to Dallas for $165
    The Northeast shipping corridor is a little more expensive.

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