seriously, a question on cost

[gary66]

Looking at buying some land in Ohio, prices have sky rocketed, more for farm ground than wooded, but both have tripled in the past decade.

What's an acre of hunting land go for there? Southern Ohio used to be under a thousand an acre for woods and more for any grazing land, same ground is much more, some 10 times more.

Just put an offer on a wood lot that was selective cut a year and a half ago. He's thinking on it, kind of hope he turns it down since I still think it's too high. I think he's thinking my hunting desires will get the best of me and I'll offer more. it's a prime location for hunting, but I need it as an investment and the trees left need about 7 years till harvest, so I've got about 7 years worth of time for an answer. :)

 

[Riverday]

I'm guessing any land will cost you from 1800 - 2100 ac,,,

 

[Wiley]

Try buying some acreage in North Alabama. $3500 to $6000 per acre is common and it's want I paid for my 13 acres of heaven on earth.

 

[ronnycl]

2500 acre plus for tillage ground in ar large tract. Some will bring more per acre if the adjoining landowner or farmer has a vested interest. A lot of groung being sold to oversea buyers.

 

[chris1976]

Not sure about Ohio, but land in Montgomery county TN has really gone up in the last 10-15 years. We bought 275 acres of hardwoods last year for under 1100 an acre. Just have to find the right seller.


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[gary66]

The land I'm looking at lists for 5200 an acre. Lot of land is listing for more, some double that. I have thought of a larger tract to reduce the cost, but have no desire to get that much in debt.

I looked at some land there a few years ago. One larger tract next to a tract I was interested in went from 200,000 to 16,000,000 in 10 years and was bought by a timber company. I think it was 400 acres.

large chicken farm near me bought up just over 300 acres 2 years ago that has a 20-30 acre wood lot on it, 2,400,000. That's right, 2 million four hundred thousand. Farm ground round here was around 8000 an acre, come down a little with the drop in crop prices. I've talked to them about the wood lot, they haven't talked back though.

I realize it's an investment that will at least maintain it's value, but I think/hope it's peaked.

 

[PickettSFHunter]

I wouldnt count on farm land holding its value right now. I believe we are in a bubble. Several farmers in my area have lost their hindends this year. We the taxpayers always bail out their bad choices in the end but they have lost a lot to foreclosure this year in my area. Many people that say you won't lose money on land either don't remember when things crashed in 2008 or when farmers loans crashed in the late 80's/early 90's timeframe, at least that certainly happened in my area.


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[user 14220]

I would still pay a little more for land to get the right piece of property IF I were 95% certain it would be my retirement property. From what I seen lately $2,000 an acre would be an absolute bargain unless your buying a huge plot of a couple hundred acres or more.
There are so many variable to land you cant count them all. Location, roads, access to power, water, etc. Then there is the shape of the plot. Timbered recently? Hilly? I seen plots over 100 acres that might have 10-15 acres where you could build or actually use the land for anything worthwhile.

 

[gary66]

I wouldnt count on farm land holding its value right now. I believe we are in a bubble. Several farmers in my area have lost their hindends this year. We the taxpayers always bail out their bad choices in the end but they have lost a lot to foreclosure this year in my area. Many people that say you won't lose money on land either don't remember when things crashed in 2008 or when farmers loans crashed in the late 80's/early 90's timeframe, at least that certainly happened in my area.


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things may have crashed in 2008, but I've been looking at land longer that that and land never went down, it's risen.

I talked to the bank about financing options, the lest appealing is the commercial loan used to buy farm ground. I wouldn't want to finance that way with a wood lot. First 5 years are easy so if you can do well you can pay a lot off, next 15 are brutal.

 

[gary66]

I would still pay a little more for land to get the right piece of property IF I were 95% certain it would be my retirement property. From what I seen lately $2,000 an acre would be an absolute bargain unless your buying a huge plot of a couple hundred acres or more.
There are so many variable to land you cant count them all. Location, roads, access to power, water, etc. Then there is the shape of the plot. Timbered recently? Hilly? I seen plots over 100 acres that might have 10-15 acres where you could build or actually use the land for anything worthwhile.

I'm more interested in it supplementing my retirement than a place to retire. I'd pay more if it would pay off more, same thing.

I'm also thinking with the drop in crops those that bought farm ground with wood lots will be more ready to part with the wood lots. I here you on the variables, I have many I do count.

I live in a woodlot with neighbors, share a drive with one, it's never worked out. He's selling and an appraiser stopped by to ask about the drive. I asked him if he'd read the deed or look at the surveyed plot map as it is all spelled out there. He hadn't. I would not buy anything without starting there.

Our lots are similar and I had first choice. That lot has 2 county ditch's and the easement for the access, 30 'x 1200' plus about 800' of ditch's. whoever owns the place must pay real estate tax's on that land and can't use it but for access and run off. almost 2 acres of ground. This lot just has the access.

 

[rem270]

Land around here is going for $2500-$6000/acre. If you can get land for the $2500 then you're doing pretty good.

Just bought 6 acres that joins mine and i gave $3000/acre. Way to high but it benefits to have it and keep people off of it. Honestly probably wouldn't have appraised for about $1500/acre. Nothing but thick woods and an overgrown 1/2 acre field that is to far gone to save.

 

[jotahech]

Tract size seems to matter as well.

 

[catman529]

Try buying some acreage in North Alabama. $3500 to $6000 per acre is common and it's want I paid for my 13 acres of heaven on earth.

try Williamson county where $20,000 acre of woods or farm land ain't nothing.


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[xtremedeerman]

Whitetail properties took over jacked the prices way up