Rural Land Prices -- Post 9/11

[ddl]

I live about six miles south of KC and the land next to us was subdivided and is selling between $20,000 and $50,000 for 3 to five acres. No water, no waste disposal just land.

Dan L

 

[Robert_in_NY]

My friend bought 205 acres for $25k right next to the school and on a major road. He lucked out on that deal as he knew the guy selling it. There is another place near me, it is 235 acres and they want $150k for it. We are buying over 40 acres that adjoin our land for around $400/ acre. The prices here are fairly decent but the economy isn't that great around us either so that has a major role in land prices.

 

[MarkV]

Robert,
Am I reading this right? Your friend bought 205 acres at just under $122.00 per acre. Man, I am living in the wrong place.

A lot across the street from me----a desirable older section of Atlanta----sold for $250,000. This is a residential 75’x150’ lot. The 5-7 acre tracts on the side of the mountain where are weekend home is, are selling in the $7000 per acre range. The tillable valley acreage is going for 12-15K per acre.

MarkV

 

[Robert_in_NY]

He knew the seller and was able to jump on it before anyone else, he originally told us and we would have bought it except he wanted it. Around here if you live around the towns you will pay a couple thousand a lot. I have heard of people selling some land for $1000 a acre but the people paying that much are not familar with land prices in our area and they are thinking they are getting a deal. Brush land is worth $500/acre and most of the land around me is brush land but is light brush and easily cleared. It use to be all farm land in the olden days but as time went on the farmers died off and the land went to brush but is still great land. Most of the large farms are gone and finding 40 acre chuncks of land is getting rare so I have no doubt land prices will start rising but hopefully not till I buy up some more for my farm. It is sad to see all the farmers land being broke up but that is the economy now. Later.

 

[utahmule]

Around here in Southwest Utah you can get 20 acre lots for about 50k. 5-10 miles from town, w/ a couple of acre-feet of water.

 

[Bird]

Prices vary in my area (60 miles south of Dallas) so much it's hard to determine an average, but it seems that large tracts of undeveloped open farmland sometimes go for as little as $550 an acre, but smaller tracts (20 acres or less) are usually $1,800 to $2,000 an acre (a guy around the corner from my place is asking $2,995 an acre and neighbors don't think he'll get it). Otherwise, location is a big factor. I have 10 acres, a dozen pecan trees, shade trees in the yard, 40 x 60 shop building, pretty ragged little old barn, and a custom built 1997 double wide mobile home that I hope to sell for $75,000 this year (I've got $89,000 in it), but the road is narrow and rough and to get here you have to drive by a half mile of trashy looking little old houses and trailers on small lots. That hurts the value of my property, but I can't complain because I knew they were there when I bought this place.

 

[RichZ]

Cambridge, New York???!!!!/w3tcompact/icons/shocked.gif I live in Cambridge, New York, too!!!!! Welcome, neighbor!!!

To make things even more freaky, I checked your bio! We both own JD 111's, and we both work for New York State. /w3tcompact/icons/shocked.gif I live on County Route 74 (the old railroad bed). Where are you located?

Rich
"What a long strange trip it's been."

 

[GlueGuy]

<font color=blue>a desirable older section of Atlanta----sold for $250,000. This is a residential 75’x150’ lot.</font color=blue>

That adds up to close to $1 million per acre. Very close to what it costs in Silicon Valley. Sounds like (some) metropolitan areas are similar.

 

[JohnS]

I paid 42K for 60 acres+- a couple of years ago. About $700 an acre. 20 acres of open fields with paved road front. 4-5 acres of overgrown pasture, and the rest hills, trees and streams. Located in the Southern Tier of NY. I think it was a little high at the time, but it had more "value" to me. It was land infront, on the side, and behind, my house property, which is only on a 1.33acre lot.

 

[MarkV]

Bill,
Prices have gone nuts around us. It is great for us because we bought 10 years ago but we could not afford our house today. The problem in Atlanta is that it is so spread out. People go for what looks like a deal 20 – 30 miles out of the city and then find themselves with an 1-11/2 hour commute. That has turned the in fill lots left in the city worth a fortune. The house being built on the lot across the street is going for 800k and is under contract. Guess there are still people out there with way more money than I.

MarkV