17 acres is 5100.00 an acre too much.

[TNTreeman]

I've got a rental in WillCo sitting vacant since October. It hasn't been without a renter one day in 6 yrs until now. I could have rented it but it was either pets, borderline credit score, or something that made me move along .Things are different now than it's been for the last 6 years.

 

[AT Hiker]

I don't think of land as an asset. It don't make you any money unless you lease it out? Then you don't get to use it as you intended. It cost you money from the day you buy it until the day you sell it.
If I owned land far away like that I'd likely lease it out to make money off the land.

I look at it this way; if you have to borrow money (loan) to purchase the land then it is mostly a liability. Add in taxes/insurance then that liability never goes away, even after its PIF. Even if one was to consider it an asset, its not liquid.

 

[BSK]

I look at it this way; if you have to borrow money (loan) to purchase the land then it is mostly a liability. Add in taxes/insurance then that liability never goes away, even after its PIF. Even if one was to consider it an asset, its not liquid.

Of course, part of the story is about how crazily overinflated home prices in Nashville got during the buying boom. During the peak of the buying frenzy, my home jumped 230% above what we paid for it 13 years ago. Now it's down to "only" 150% above of what we paid for it.

 

[TheLBLman]

One thing few people seem to understand:

"Asking" price is a totally different thing than "Selling" price.

Doesn't matter whether we're talking land, homes, ebay, whatever.

But imo, most real estate prices in TN are way above value,
whether we're talking asking or selling prices.
Same for new cars; same for used cars.
Same for hunting leases.

Guess there will always be a boom & bust cycle to just about everything.