rant about prices of land

[twentynine]

That price sounds pretty reasonable when compared to land cost in my area.

$12.5k per acre, add 50 to 100% to that price and that's what you end up with around here.

I was looking to purchase my brother's land, 14 acres, no improvements at all, no utilities, flood zone, no fences, nothing, zip, zilch and lots of hard work to improve it, appraised at $20.5k per acre.

 

[speckledhen]

Location is everything, even now. I have 1.77 acre lot at the bottom of my property (not lowland, it's at the base of a small mountain) and I wouldn't let it go for less than $25K. I'd rather just keep it and sell the entire 5.37 acres with house, coops, orchard, gardens as a whole or just stay put till things change in the market, which may not be in my lifetime, the way things are going.

 

[WVman]

Wow some of your land prices are high. I bought 50 acres with 2 creeks a nice 2 story house a few out buildings and paid 65K

 

[georgialee]

Quote:
Wow! The cheapest price for 50 acres (land only) in my county is $290k - and its pretty far from everything. If you get close to civilization it goes up to around $650k. Add a house and it goes up to over a million dollars.

 

[6chix]

Farm/pasture land is going for around 12-18k per acre around here.

 

[speckledhen]

Again, location, location, location. When we bought our house, it needed some minor work (still does need some), and had 2.22 acres of "jungle" around it. It was an estate. Paid $89,900 back in 2002 and it appraised for $103K, so we got a deal for the area. Then, we bought the adjoining 3.15 acres (made up of two big lots) to add to the value. Got that for $5K below asking price.

Prices skyrocketed over the next few years and with all the extra acreage we bought, land improvements and buildings we added and fixup on the house, the value was probably upwards of $250K. Then the economy tanked. I hope we can get at least $180K for it now. If not, probably won't be moving, even though we could use a house that has no steps due to DHs degenerating back and other health issues between the two of us.

 

[Mattemma]

Try looking on

http://www.unitedcountry.com

I used to come across decent homes with land all over the nation. They can be found. GA does seem a bit pricey in most locations. My brother lives in that state and said it was developing. People will post outrageous prices and hope some sap comes along to pay it. Just take your time. I saw a house listing by us for a livable home and 15 acres for 109k. I hate looking at homes,because there are sooooo many good deals but my dh won't move.Sell at a loss but get a deal.Dh can't get over the loss part!

 

[rebelcowboysnb]

Quote:
We're a big second home area, mostly folks who live here half the year. It's very rural, but there are million dollar log homes, too, one in my neighborhood.

When just buying land, you need to think about getting electricity and water on it, so raw land can be cheap and still not worth the price to someone like me who isn't of an age or inclination to hack a space out of the wilderness.

You have to remember that woodland is a commodity. You don't have to clear it. Logging companies will pay you to let them do it. From what wood sells for my brother could let loggers clear it an pay off a large part of the land just off the wood.

You are right though. Instant gratification is what people are paying for. You can probably buy land an pay someone to build a house for $100K less than you can buy land with a house in lots of places. But people will pay that $100K to have it now.

 

[I have WHAT in my yard?]

Location, location, location.

Here an acre of undeveloped land is still going in the neighborhood of $20,000. Yep, an acre. For those of us who have been here it is a tax nightmare.

 

[rebelcowboysnb]

Total taxes on my land would be $380 a year.

We actually pay $68 a year after exemptions.