How much does an acre of land go for in your area?

[jonyyuma]

Some of the best advise I ever heard was to look inside the potentional renters car when they are looking at the house. IF the car is trashed inside/out... DON'T rent to them.

mark

This sounds like a very good tip on renters. Down here you can get beat out of 6mos rent pretty easy...then there is the equal housing always sniffing..

 

[brin]

Some of the best advise I ever heard was to look inside the potentional renters car when they are looking at the house. IF the car is trashed inside/out... DON'T rent to them.

mark

That makes sense but trust me the reverse is not always true...I once rented a house to an older couple who drove new Caddy...he was a salesman for a steel building company and they had cats which they agreed in the lease to keep in the barn that went with the property they rented from me...When they move out I had to have all the carpet as well as the sub floor ripped out since they had allowed all of their cats ( a dozen or so ) to live in the house..the males had sprayed and after trying all methods to rid it of the smell failed ...we had to tear the floor out and start all over...About 2 months after they were long gone a man came to see me , he was looking for them, he was from GM Leasing..they were months behind on their lease payment for that nice Caddy...LOL...so be careful

Renting is risky business and trusting a broker to manage your rental properties sounds good but remember it is not their property...they earn their fee either way...you pay the expense of repairs and clean up....

 

[D33r3 6r33N]

We bought another 1.3 acre for $9000 right beside our house a couple years ago. Logan County, OH.

 

[Mousefield]

This is the scariest thread I've ever read. How do people make ends meet ?
I bought this 170 acre place for $500 an acre in 1999 and in my mind thats propably about what it is worth today. Plus the 1300 sq-ft house my wife and I built on it ourselves. I am glad we like it because we couldn't afford to go anywhere else from what I see here.

In our area this would be a MILLION dollar plus price tag just for the land.

 

[toddbailey]

Mine is in north Fairfield on the other side of 77 from Lancaster.

I am also in Lancaster County, near Heath Springs.:thumbsup:

 

[ultrarunner]

Some of the best advise I ever heard was to look inside the potentional renters car when they are looking at the house. IF the car is trashed inside/out... DON'T rent to them.

mark

Also important to meet everyone that will be on the lease...

 

[deere755]

117 acres sold last Saturday the 17th for $9100 an acre. Fairly good farm land. There is a 8 acre piece just north of my house and the asking price is $85000. It is being farmed now but it is not great farm land. Keep in mind though it is near a lake and people from Chicago are snatching land up around here all the time. I was also told that 40 acres just a couple miles west of me is for sale and they are asking $5500. I am gonna call about that one.

 

[brokenknee]

Just purchased forty acres with a "project" house. Realtor said land was $1,000 an acre for vacant/tillable and $1,500 for wooded. The forty I have is mostly wooded. I am new to the area so am relying on the advice of realtor, but the three that I interviewed before selecting agent all said the same thing.

 

[Sigarms]

My neighbor across the street has 49 acres up for sale for $398,000.

Nice farmland with a mix of trees and pastures on rolling hills.

 

[herd]

80 acres of crop land in middle Iowa recently sold for $14,000 an acre.

Little to no developement potential.

Cash rent for some bank owned farmland in middle IL is set at $700 an acre for next year.

I just don't see how a farmer can pay that kind of money to rent land and then makeany kind of profit at all. I just can't see it! In these parts, farm land rents for $20-$30 per acre and only a big farmer can make it farming at those ratess. How can $700 an acre in rent possibly pay off.