Wondering if anyone knows what hunting property in Morgan Cty off airport road is going for per acre (have 27ish).... didn't touch my place last year as I bagged 3 in my back yard in knoxville....
Property value question
- Thread starter 416wbymag
- Start date
@PickettSFHunter might have some insight...
JeepKuntry
Well-Known Member
My guess would be between 2,000-2500 per acre. Given the location, my guess would be on the lower side.
I'd start off at 7500 per acre and I'd say you end up getting offers around 5k per acre
whatever...you'll probably end up getting more than asking. Find out who's buying (has bought). Will tell you what they will pay. If you do business with a local bank and they know you, talk to them about what people are spending.
I see listings often, I inspect properties, I wouldn't pay what people pay, but I've never been like most when to comes to things like that. Looked at a small house on a postage stamp recently, asking was 189k. It was over 100 years old and only looked as good as it did because of cosmetics which will fade quickly. The couple, just kids my kids grew up with ended up getting it for just over 200k. First house, 200k+ in debt. I inspect, I don't talk value, I do offer some advice, I did them. They said they'd looked and this was the best they could find. Maybe it was the best THEY could find.
Means most are willing to pay as much as they can borrow and borrowing is good. 7500 an acre is probably low, but I wouldn't kick myself if that ends up being what it sold for.
Whatever you get, spend it quick, dollar loses value everyday as real estate prices prove. You bought low... as long as the math never gets more complicated than 2+2=4. Not sure if the actual value of a dollar today proves you bought low...best not to look. You could improve on the investment carrying the loan (land contract). You get the interest the lender would...money is tied up though. Set it up right, lenders sell loans to other lenders, needs some legal advice.
I see listings often, I inspect properties, I wouldn't pay what people pay, but I've never been like most when to comes to things like that. Looked at a small house on a postage stamp recently, asking was 189k. It was over 100 years old and only looked as good as it did because of cosmetics which will fade quickly. The couple, just kids my kids grew up with ended up getting it for just over 200k. First house, 200k+ in debt. I inspect, I don't talk value, I do offer some advice, I did them. They said they'd looked and this was the best they could find. Maybe it was the best THEY could find.
Means most are willing to pay as much as they can borrow and borrowing is good. 7500 an acre is probably low, but I wouldn't kick myself if that ends up being what it sold for.
Whatever you get, spend it quick, dollar loses value everyday as real estate prices prove. You bought low... as long as the math never gets more complicated than 2+2=4. Not sure if the actual value of a dollar today proves you bought low...best not to look. You could improve on the investment carrying the loan (land contract). You get the interest the lender would...money is tied up though. Set it up right, lenders sell loans to other lenders, needs some legal advice.
MickThompson
Well-Known Member
Smaller tract can usually bring more per acre. It's also close to the interstate so that would help too.
I'm neither a realtor nor stayed in a holiday inn last night so take it for what you paid for it
I'm neither a realtor nor stayed in a holiday inn last night so take it for what you paid for it
