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Old 01-02-2013, 01:11 PM  
El Jefe El Jefe is offline
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What is the value of an acre in your area?

I am talking about rural land? I/my wife and I are looking to purchase some land and build a house. We would like to get 10 acres or so, but man the property value hasn't dwindled much in our area. It's a rural farm town area, but land is going for about 12-15k an acre. Whats your neck of the woods look like? I know north of our area you can get land for about 3k an acre, but its out in the boondocks. I don't want to drive an hour and a half one way to work.
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Old 01-02-2013, 01:38 PM   #16
Hoover Hoover is offline
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I paid 60k for my .8 of an acre and felt like I got a good deal on it. I live in the Des Moines Metro...
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Old 01-02-2013, 01:39 PM   #17
ndws ndws is offline
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Originally Posted by htismaqe View Post
We live on the north side of the Des Moines river basin, in the Skunk River basin.

Some of the tillable here is going for well over $20K if it EVER changes hands.

EDIT: The only land worth more is farmland that happens to be in the metro growth areas north and west of Des Moines.
I know a guy around Dallas Center who has quite a bit of ground. Last time we talked to him, it was outrageous then. I can only imagine what a couple of high dollar corn years will do to that.
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Old 01-02-2013, 01:41 PM   #18
ncCHIEFfan ncCHIEFfan is offline
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I paid 18k for an empty lot, .5 acre that is attached to my home property...Tax value is 22k
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Old 01-02-2013, 01:44 PM   #19
ChiefRocka ChiefRocka is offline
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Looking like 80K here 45 miles north of Baltimore and 45 miles south of Philly.
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Old 01-02-2013, 02:02 PM   #20
Iowanian Iowanian is offline
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There are extenuating circumstances regarding most of those farm sales that go for big money. I know of one 40 that went for $29k per acre in NE Iowa.

Most times, when you're seeing those numbers larger than 10k/acre, which is still ridiculously high, it's because 2 neighbors are fighting over it, it connects to their farms, finishes a section/half section. Sometimes they just want it to square up the farm and get what's close, other times they're buying it so the other guy they don't like can't have it.

Either way, it will never pencil if they're not using a lot of already paid for acres to fund it.
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Old 01-02-2013, 02:06 PM   #21
angelo angelo is offline
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My brother and I just purchased 40 acres 500 yards north of perry lake that backs up to the Delaware river. We paid 1300 an acres. Value is 2500-3000. It has 10 acres farm 10 acres CRP and 20 woodland. He got a 10 point buck and my nephew an 8 point this fall.

Pure investment for me plus camping.

Ang
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Old 01-02-2013, 02:10 PM   #22
seclark seclark is offline
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few years ago i bought 30acres of mostly timber for about $70k.
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Old 01-02-2013, 02:18 PM   #23
La literatura La literatura is offline
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Now is not the time to buy farmland for the purpose of building a house on it. Land will most likely come down some, even if it takes a few years.
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Old 01-02-2013, 02:21 PM   #24
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Man, I'd love to have 30 or 40 acres with a cabin on it. I can't justify it as a recreational thing, though.

I have no idea what land goes for around here. I've seen ads occasionally for "mountain land" near Pueblo for something like $50,000 for 35 acres, but I suspect that's because you can't get water or power to it. Around here, I think water rights are sometimes worth more than the land they're attached to.
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Old 01-02-2013, 02:23 PM   #25
Iowanian Iowanian is offline
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If it's buildable land in the mountains outside of Denver, that has road, power and water you're paying a lot more than that for a building site. They were going for more than $50k for iffy sites 20 years ago.
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Old 01-02-2013, 02:25 PM   #26
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Old 01-02-2013, 02:31 PM   #27
Rain Man Rain Man is online now
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Quote:
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If it's buildable land in the mountains outside of Denver, that has road, power and water you're paying a lot more than that for a building site. They were going for more than $50k for iffy sites 20 years ago.
Yeah, Pueblo's a good distance away and a lot cheaper. I know the general area and it's nice other than the fact that it's a 20-mile drive to the grocery store, but I figure there has to be some fatal flaw for it to be that cheap. In Colorado, that's usually water.

I saw a nice looking little A-Frame cabin outside of Idaho Springs a couple of months ago that was very tempting. It was outside of town in a very wooded area, and it was around $115,000 for 600 or 700 square feet. The lot wasn't big, but was big enough to give you a little seclusion with the woods (maybe 1/4 or 1/2 acre - don't recall). It was quite tempting, but for that price I can take a lot of vacations and not have to keep two houses maintained.
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Old 01-02-2013, 02:36 PM   #28
jeff h jeff h is offline
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There are extenuating circumstances regarding most of those farm sales that go for big money. I know of one 40 that went for $29k per acre in NE Iowa.

Most times, when you're seeing those numbers larger than 10k/acre, which is still ridiculously high, it's because 2 neighbors are fighting over it, it connects to their farms, finishes a section/half section. Sometimes they just want it to square up the farm and get what's close, other times they're buying it so the other guy they don't like can't have it.

Either way, it will never pencil if they're not using a lot of already paid for acres to fund it.
We have a farm west of waterloo and land has been selling near there over $12,000/acre all day long. I know one farmer personally who overpaid at 15k plus change. Another farm went at auction near waterloo for over 21k/acre. Rent for ag ground is easily fetching $350/acre and I've heard rents in the $500/acre range. We bought our first farm in 99 and rent was around $130/acre. Needless to say it has exploded.
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Old 01-02-2013, 02:41 PM   #29
Iowanian Iowanian is offline
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You can partially thank the National Parks' for determining development areas.

Other than the obvious, the other item I know that affects building lots in the mountain areas of Colorado is which slope you're facing. South facing slopes go for A LOT more than North facing slopes for obvious reasons too.


Quote:
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Yeah, Pueblo's a good distance away and a lot cheaper. I know the general area and it's nice other than the fact that it's a 20-mile drive to the grocery store, but I figure there has to be some fatal flaw for it to be that cheap. In Colorado, that's usually water.

I saw a nice looking little A-Frame cabin outside of Idaho Springs a couple of months ago that was very tempting. It was outside of town in a very wooded area, and it was around $115,000 for 600 or 700 square feet. The lot wasn't big, but was big enough to give you a little seclusion with the woods (maybe 1/4 or 1/2 acre - don't recall). It was quite tempting, but for that price I can take a lot of vacations and not have to keep two houses maintained.
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Old 01-02-2013, 02:56 PM   #30
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