In case anybody was worried about land prices...

[svivian]

Dealing with here in Colorado, Cash offers all around well above asking price. Good luck to our younger generations. The era of passing down land to your grand children is over....

 

[WRM]

The era of passing down land to your grand children is over....

I thank God every day I made that cut off. Probably have to reverse mtg this place one day and then there's nothing.

 

[Customweld]

This is exactly what is going on. All across Idaho developers are buying farm land and planting 5-6 houses per acre. By the time the homes are sold, the corporate developers are making $1.5-2 million per acre and they're completely booked.

I'm not sure what the costs are now but 5 years ago the cost from bare dirt to a paved, water and sewer served buildable lot was about 25k. That doesn't include the original price of the bare ground.

 

[Fridaythe13th]

Southeastern MN deer hunting woods are going for $5,000-$7000 an acre. Just to shoot a deer. $26,000 for tillable sounds like a good deal, IMO.

 

[Gutshot007]

Don't worry we will "taxed " off our property with insane property values as they are and increase valuation of one's current house (I just wanna live here not sell it !)

 

[CorbLand]

This is exactly what is going on. All across Idaho developers are buying farm land and planting 5-6 houses per acre. By the time the homes are sold, the corporate developers are making $1.5-2 million per acre and they're completely booked.

You can make more money in 10 minutes selling it than you can farming it for two generations.

 

[Customweld]

You can make more money in 10 minutes selling it than you can farming it for two generations.

That's the honest truth.

 

[Customweld]

You can make more money in 10 minutes selling it than you can farming it for two generations.

Take momma out and retire in Del Boca Vista!

 

[jjohnsonElknewbie]

100 acres x $26,000 = $2.6M

Ah ha! Thank you! Move the decimal point over a spot. Still looking at $12,293 per month.

 

[WeiserBucks]

I'm not sure what the costs are now but 5 years ago the cost from bare dirt to a paved, water and sewer served buildable lot was about 25k. That doesn't include the original price of the bare ground.

When the houses are selling for $650k+ they don't even blink an eye. Not to mention the army of cheap labor slapping up the houses.

 

[jjohnsonElknewbie]

Dealing with here in Colorado, Cash offers all around well above asking price. Good luck to our younger generations. The era of passing down land to your grand children is over....

Not sure how anybody can just decide they want to be a farmer if they aren't born into it.

On the flipside, God forbid you are a farmer and die without tax sheltering the estate. Death tax is around 50% for the heirs to bear the burden of...

 

[WRM]

Take momma out and retire in Del Boca Vista!

Not if DBV is in Florida. Only if in Cali.

 

[hunt1up]

I live in the heart of prime IL farm ground. Not long ago $10,000 was premium pricing, now it’s $20,000.

I got EXTREMELY lucky on my 47 acres I bought last year. It was part of a larger chunk and I told the realtor I’d pay for surveying to carve out what I bought. There’s enough tillable on it(not great) to cover the taxes and a little more. I could probably sell it for a 50% profit after just a year, but I bought it to ensure I always have decent hunting ground for me and my family. Every time I go there I do a double take that I got it as affordably as I did.

Prices on everything have gone crazy so fast, it’s hard to even keep up with it.

 

[CoStick]

4 plus generations of buyers and 2 generations of supply.

 

[WA209]

It seems out of control…..
but….. a lot of money flying around.
Hell just look at the top onlyfans earners….

 

[Broomd]

I've been thinking that since 2017. Every month, I think how in the hell can we sustain this amount of appreciation. Every month it keeps going up. I know everyone has their experience, but here is mine :
We sold my grandfathers house in Emmett, ID in 2017. 1300 SF, on a half acre. Not much for updates since it was built in 1974. Appraised for 87k we were offered 150k cash. We were blew away, thought let's go before the wheels fall off this wagon. A few neighbors have sold their places, in the last year. All of them were pretty much in the same state of upkeep. They all went for 425K+. Crazy times indeed.

Yep, the markets have also been crazy, and if we all had a dollar for every "I'm safely in 'all cash'" statement from those who completely missed out on the recent post-covid market recovery of a lifetime, we'd all be rich.

 

[RS_Non-Res]

@jjohnsonElknewbie You for got to include the return when the land is sold. Speculation and flipping.
The buyer may just be planning on the price of the land going up 30% a year and then selling it. It's just an investment, not a farm.

 

[Rich M]

Last week a 100 acre farm in NW Iowa sold for $2.6M. 96.33 tillable with 3.67 acre building site. As of 2021, the average price per acre for Plymouth County farm land was $12,416. This was a 31.4% increase over last year.

Statewide, farmland values are up an average of 29% over last year. Prices are likely to increase further this year as the war in Ukraine constricts global grain supplies, driving up farm revenues and the value of land.

Bill Gates and China are buying up all the farm land for some reason.

 

[Traveler]

Bill Gates and China are buying up all the farm land for some reason.

Bill Gates and China live in NW Iowa?

 

[Traveler]

Not sure how anybody can just decide they want to be a farmer if they aren't born into it.

On the flipside, God forbid you are a farmer and die without tax sheltering the estate. Death tax is around 50% for the heirs to bear the burden of...

It’s sad but it isn’t possible to just get into farming and ranching anymore. You either have to start with the land, the cattle, the implements or a lot of money.