What is the price of land in your area?

Between $3000 and $10,000 per acre in rural areas, and there seems to be no limit in residential, and fancy areas.

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We bought 20 ac (1/2 wooded 1/2 'pasture') 6/02 for 40K. It's on the edge of a town of 450 & 7 miles from county seat of 10,000 (and grocery stores & WallyWorld!) About 80 mi NE of Dallas. Probably would be worth 60K now even tho there's no H2O or elec.

Jex99 in NJ-
We just looked at a all solar/renewable energy home in a growing suburb of Dallas-Frisco, TX and it was $820,000 for 5000 sq ft!! On a dinky little lot. Go upstairs & look into your neighbors back yard. So that am't for your SO's parents 10ac/house/barn doesn't sound too bad!

There's a lot of good prices in this part of TX if you want to be out a ways from civilization.

Patty

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Bought our Quarter Section (160 acres) five years ago for $22,000 USD or $34,000 CDN at the time. Price TODAY is $50,000 CDN (now $45,000 USD).

Have you seen this image of our new planting -- Barley, 55 acres:


55 acres of new Barley, heading out last fall -- this is part of the $22,000 usd Quarter Section -- 160 acres, pine, spruce, poplar, creek.

Today, that's $281 per acre USD, and that is in the minimum allowed to be purchased or sold -- not allowed to subdivide -- in the area where our land is. Larger holdings sell for less per acre. BTW ours is fenced on all four sides, though we did spend money and effort for breaking, working and seeding.

Alex

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3 years ago, I paid $105,000 for 3 acres in Sparks, Maryland (Baltimore County). It's expensive 'round here

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Over inflated.

Waiting for the bubble to burst.

Wiff

I paid $35k for 42 acres of forest with riverfrontage here in Maine.

Inlaws paid $38k for 105 acres for forest across the road [no river].

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Central Kansas; $350-$1500 an acre, depending on range, grassland or cropland. Ground where we are runs $800-$1000 an acre. Western Ks. doesn't have a lot of trees. Water can be a problem, but not unsurmountable. Plenty of windmills about; you can usually hit something.
We bought a 14 acre apple/peach orchard w/blackberries and 1/2 acre patch of asparagus. Large Morton building, smaller barn, 2 greenhouses and a 4-bedroom home for $91,000. Have own well, but could hook up to country water if desired.
Compared to most places talked about on this forum, not too bad!.

Hilly spetic perked, utility access land with water (well, spring) 10 acres in northern central Vermont near Barre-Montpelier (1/2 hr) $160K. 1 acre lots are about $40K. Less desireable lots (poor access, no utilities, steep, unperked, etc) can be had for less. Great views or closer to town drive the price up more.

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FWIW: Land prices are likely to fall in the near future. There now is a large over supply of homes for sale which is likely to reduce future construction. There probably is a substantial amount of land held by builders who were intending to use it for more housing developments. Its very likely the most of this land, will be sold off as it will probably be very long time before another housing boom occurs. If your looking for land, you might be able to aquire it from builders next year at a reasonable price (with some haggling of course).

On the flip side, I think home prices will remain steady for a while. homeowners are not likely to cave in prices and probably will just pull their homes off the market and stick with what the got or try renting them out. Eventually a significant number of home owners will be forclosed on because of the excessive use of exotic loans (ie no money down, interest only, negative amortization, etc). This will eventually drive down prices as foreclosed homes are auctioned off. How fast and how far, really depends on the economy and interest rates.

The most recent mortgage lending statistics shows most of the activity is for cash-out refinancing, where the home owner refinances and used home equity for cash. This is a bearish trend, since is points to home owners using debt to maintain thier lifestyles. Eventual the tide will turn and instead of extracting money and spending it to support the economy, they will be forces to cut spending in order to payback thier debt. I can't say when it will happen, maybe next year, to maybe 5 years from now.

I believe a lot of folks are going to get themselves stuck in a heap of debt with few job opportunities to pay it off and consumer spending slows to pay off debts. Unlike in the past, homeowners can no longer walk away from thier debt. The bankrupcy laws have changed and the debt will hang around their neck like a dead albatross.

The economic expansion of the last four years was attributed to a huge jump in consumer debt. When that debt has to be paid back, it will have just the opposite affect on the economy.

If you are planning to purchase land, go rural, it would be a good idea to get rid of any expensive debt (credit cards, high interest car loans, student loans, etc) and save money before getting into or taking on more mortgage debt. If you have super-chear debt, its probably better to bank saving rather then pay it off, especially if you can get more interest than the interest rate of the loan. The better the financial footing you can make for yourself today the brighter future you'll have ahead of you. I know its not easy, but it will be worth it in the long run. Remember during this shopping season everytime you think you need something new, ask yourself do you really need it. For instance, do you really need a 42" plasma TV, when the old 25" is still working fine? Buy what you absolutely need and forget the rest. When you buy, buy it on sale, and shop around. There is no reason to make retail executives any richer and they certainly don't need your charity!

Take care.

here in east cental oklahoma the land prices range from 800 to 3000+
the 800 for buying larger parcels.
less than 10 years ago it was going for 100 to 900 an acre for large or small
a lot of developers in the area plues people moving from california and larger citys and also gov bought up most of the bottom land for refuage land which before we had a large supply of cheap land

Thank you for the welcome. I'm looking at a place today, that is 7acres , fruit trees, new well, 3+ garage, 5 lean to stalls, etc... A real fixer-upper, for 79,900. That is quite cheap for my area. I know a fixer-upper means roof still attached but hanging. hee,hee. Oh well, I have nothing to do for 20 years anyway. OH ! .I work at a factory making mirrors for all cars. It's hanging on a tread too. Thanks for reading again. Sue

Here, as in many other places, market prices are very different from assessments for taxes (and sometimes even from asking prices). It's a wide range but I'd say for residential use it's probably right around $10k/acre as an average. That averages in lots of non-buildable wetlands at less than that and lots of spendy places in gated communities with full underground utilities at more than that. HOWEVER, that does not mean you can buy 1 acre for $10,000. I've seen single-acre pieces at prices above $50,000 but most don't sell for that in the residential market...

The key to reasonable land is to stay away from where the retirees and yuppies tend to land.
Out where we are, you can get plain old pasture for around a hundred bucks while farm ground is 400-800 an acre.
Irrigated will be more of course.

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where are you cornhusker?

I'm in western Nebraska.

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Mark Twain
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Enforced tolerance is oppression

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Amish farm sold saturday here in south central kentucky.It was 44 acres large 2 year old home,stock barn,tobacco barn and large tool shed.It brought 129,500

Highland

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We paid $130,000 for 5 acres 5 months ago with a lot of trees and a brand new singlewide mobile home that was not quite done being set up. We had to finish stuff like hooking up the electric to the well and run water lines to the house. We are in Northern Arizona 15 miles from a town of about 5000 and one hour from Show Low.