Land

[asca65290]

Are there any landowners or wannabe landowners out there?  I would be interested in seeing more discussion about the land market on this forum, as after all, there are no trees without land!  I live in West-central Illinois where prices are high due to the high fertility of the region and the interest in hunting from wealthy people from St. Louis and Chicago.  Land prices came down quite a bit a couple years ago and stabilized at the lower level and haven't come up since really.  Sellers are still asking for the old prices, but are not getting them.  As a result, some properties are staying on the market for over a year or more.  In the hayday, we were seeing high quality farm ground go consistently for $5,000 per acre (sometimes up to $7,500) while non-productive recreational ground (albeit with some hardwood timber value) go for $3,000 to $3,500 per acre.  I took advantage of the lower prices by buying 70 acres last year with a mix of nice hardwood timber and farmland for $2,500 per acre.  I have also just agreed to buy 100 acres from an adjoining landowner for $2,600 per acre.  I have to say that it is hard to justify even these prices based solely on what you can make from cash rent, timber and hunting lease income so I'm interested to hear what everyone else has been seeing out there is your various regions.  I have a lot of nice trees on my property but when you consider that you will only do a selective timber harvest once every 15-20 years, I can't justify selling now in a down market.  What is everyone else seeing?  Share your stories with us.

[TeaW]

Several farms sold near me here in Ontario last year.One at $4500./acre the other $5000/acre both bought by farmers .100 acres of fair woodland was purchased by the county (county forest) last year at $4500/acre. I expect these prices are on the high side for this area but I'm not sure.

[bill m]

In my town land prices start at about $250,000 per acre and go up from there.

[stonebroke]

In my town a one acre building lot is assesed a 38,000$. Large acreages go for less. You cannot justify buying land for the economic return from farming or forestry. So you just go ahead and buy it just to have it.

Stonebroke

[Chuck White]

Around this area, land is around $1,000.00/acre.
That is, unless it is "waterfront" property or land from a developer.

Only 15 years ago, land could be had in this area for $250.00/acre.

Unreal.

Back in 1987, I baught this place on 1½ acres for $25,000.00!
Now the insurance company won't insure it for less than $125,000.00.

[Sprucegum]

Average farmland can still be bought for $1,000 per acre and the price has weakened this last year. Five years ago it was half the price.

[Tim/South]

A neighbor/farmer friend a quarter of a mile down the road just sold 80 acres for one million dollars.

Two years ago I was offered $20,000 per acre for some land I own close to the school.
I asked the real estate lady where my cows would graze? She just sighed.
I am not rich by any means, just there are some things in life worth more than money.
Seeing a few cows come to the gate when they hear your truck is one of those things.

[JimMartin9999]

TeaW
I thought Canadians measured land in hectars?  Was your price for hectars or acres?

Land prices in south central NY have gone nuts because of the Marcellus gas deposits.
But be serious guys.  Lets compare apples with apples and oranges with oranges.
You can´t  compare timberland with building lots on Broadway.  One comparison might be  "hunting land" which I take to mean not very good woodlot, no mineral rights.  In upper Michigan (northeast corner) I have been getting minimal price offers of about $1200/ acre. 

[nas]

Jim
Only the Gooberment measures in hectares.
Around here a 1 acre building lot is over $300,000.  Farmland is pushing $10,000/acre.

[ely]

stonebroke hit it dead on. its not that you are buying it for a profit. you have to be committed to owning it. around here the main reason to buy land is to keep some yahoo from texas or california from buying up next to you. no offence to the texas and california yahoos on here. ;D

[Raider Bill]

stonebroke hit it dead on. its not that you are buying it for a profit. you have to be committed to owning it. around here the main reason to buy land is to keep some yahoo from texas or california from buying up next to you. no offence to the texas and california yahoos on here. ;D

Lets not forget us Floridains that buy out of State ;D

[ely]

theres no one in florida but old people .... and thier parents. :D no offence tom. i heard that from a comedian years ago and it stuck.

[Raider Bill]

theres no one in florida but old people .... and thier parents. :D no offence tom. i heard that from a comedian years ago and it stuck.

That used to be the case but not anymore. Lot's of people born here the past 30 years or so.

[WH_Conley]

Well, I don't guess they were that old. smiley_old_guy

[clww]

We just closed on some mountain property in Highland County. 45 acres, all woods, improved road and two cleared building sites. Just over $150,000.

[Raider Bill]

Congrats! Mountain land is good for the soul!

[asca65290]

I just bought 107 acres of timber land in west-central Illinois for $2,600 per acre.  Very nice property with lots of hills and good hunting!  8)

[CX3]

Land around me can be had for 1000 an acre, this land is so hilly you cant hardly walk up it with no valuable timber or it has been cut and you have to buy 700 acres to get this price.

Good farm/hunting land is up around 3-5k an acre sometimes higher. Small rural lots like 3 acres or so will bring 10k an acre.  Land close to town sells by the square foot.  12-15 dollars a square foot I might add. 

[jim king]

I have 17,000 acres of virgin timber with an average of 40,000 bf per acre and nobody very interested at $45 an acre. :'( :'(   Another world.

[SwampDonkey]

Farmland ranges from $1500 to $3500/acre here. If it's a farm sale the woods always suffer, they are either flattened before or after the sale. This farm here has sold three times since dad sold it and retired. The buildings in the last sale only got $50,000 we were told and they cost over $600,000 to build in the mid 90's. You can buy woodland for $50-250 an acre but there is no timber on it and it's not prime woodland. Good ground that is cutover usually gets around $400 or better an acre. Timbered ground has to be flattened to pay for it, so it seems useless to pursue that. In fact it's rare to buy timber land without cutting it off. People don't have that kind of money to tie up in this region. There are lots of absantee owners that have land up here, but the timber has all been cut either with or without their knowledge. Otherwise it is an inherited lot with one new owner who lives away and who cares about the "old farm woodlot". When siblings get involved it's divided and flattened. There is one such lot undergoing this process down by father's. Some people can't seem to have enough $$ in their pocket, even when they are well off.

The only hunting leases up here are pheasant farms and not really leases, you pay to hunt there. Wild animals are not for sale up here as a land lease.

[Ernie]

Our local council has valued our 40 acres at $660000.00 bare land not counting improvements like fences, trees, houses, sheds.  At that sort of price, you can only farm till the money runs out.  Surprisingly enough that is the value upon which they base our property taxes.  It's just as well I get the old age pension of $256.00 a week or I wouldn't survive.  Property taxes are only 18% of my pension. So I have a few pennies left for gas for the mill >:(

[Magicman]

The driving force with our land value is "Recreational Use".  Also, hunters pay $15 and up per year for hunting leases.  Those folks also shoot what walks to justify those hefty leases.   >:(

[northwoods1]

The driving force with our land value is "Recreational Use".  Also, hunters pay $15 and up per year for hunting leases.  Those folks also shoot what walks to justify those hefty leases.   >:(

Now days around here the driving force behind values is increased need for farm land. Tillable land is at a premium, mostly caused by large dairies w/thousands of cows. They need so much land for hay and more importantly , to dispose of waste. Decent tillable land is going for about 3k an acre. You won't find much for less than 2k and that is any kind of land. I have watched what has happened closley in the last 20 years here and it is amazing. Land prices just never seen to drop it is an ever increasing spiral up and up.

[Norm]

In Iowa the farm land is being used for urban sprawl. Developers come in and section it off into 5 acre parcels so city folks can feel like they are in the country. The pols love it because it drives up the tax base.

[northwoods1]

In Iowa the farm land is being used for urban sprawl. Developers come in and section it off into 5 acre parcels so city folks can feel like they are in the country. The pols love it because it drives up the tax base.

Norm, it is the same thing here when you get within 50 miles or so of the larger urban areas. I'm a fair bit farther out than that luckily. On the farm where I grew up near Green Bay it is all sprawl now, in fact the entire property is a golf course surrounded by $1,000,000or more homes , this is it
http://thornberrycreekcc.net/
all those photos are of the woods & fields I grew up on hunting and growing up as a lucky kid in the country. The last lot I saw sold there where the house I grew up in is on sold for $650k , and the beautiful brick house my dad had built in the late 50s' was torn down. So was the beautiful barn he built it made me about sick.
Oh, I think some day people will come to there senses and see that farm land and keeping it in production is what it truly valuable. Just my personal opinion, but why someone would feel the need to have a 10,000 sf house for maybe a couple people to live in just does not make sense. But what are you gonna do ??? :(
Me, I love having some farm land to take care of and make productive whether that be through crops or forestland. My belief is simple, leave it in better shape than when I got it.