Neighbor asking $95,000 for 7 rough Acres

Discussion in 'Homesteading Questions' started by Boleyz, Sep 4, 2006.

  1. Boleyz

    Boleyz Prognosticator, Artist

    Messages:
    2,053
    Joined:
    Sep 7, 2004
    Location:
    KY
    The land that borders mine is up for sale! I got all excited...I've only got 5 acres here on my home-site. The neighboring land across the fence is 7 acres.

    About 4 of it is steep hillside and includes a power-line cut. I figured I could us it for some extra pasture. The realtor in charge goes to church with me.

    He told me the guy is crazily asking $95,000.00. We're talking mostly hillside pasture without even a nice place really, for a house if anyone wanted to build on it.

    I dunno if the mineral rights are included, but I suspect not, since one family owns all the gas wells in this area.

    My 5 acre place has a new house, barn, and shop building and is completely fenced. My total outlay for land, house and outbuildings was $156,000.00. If his sells for $95,000, I'm gonna put my place up for $250,000 and make a $100,000.00 profit.

    Then, I'll build again...What would you do?
     
  2. CountryMamaof5

    CountryMamaof5 Well-Known Member

    Messages:
    323
    Joined:
    Aug 30, 2006
    Make a much lower offer on it and keep offering til he sells out for a price that is reasonable !!
     

  3. Mountaineer

    Mountaineer Well-Known Member

    Messages:
    1,058
    Joined:
    Jan 1, 2006
    Exactly. Find out the 'going rate' and offer less than that.
     
  4. Cheryl in SD

    Cheryl in SD Living in the Hills Supporter

    Messages:
    4,534
    Joined:
    Apr 22, 2005
    Location:
    South Dakota
    I have 8 acres next to me for sale. $280,000. It just went up from $225,000. The 3 acres and 1970 trailer next to me just sold for 157,000.

    7 for $95,000 is looking good.
     
  5. uncle Will in In.

    uncle Will in In. Well-Known Member Supporter

    Messages:
    7,154
    Joined:
    May 11, 2002
    There's a whale of a difference between Askin, and Gittin..
     
  6. jnap31

    jnap31 garden guy

    Messages:
    3,516
    Joined:
    Sep 16, 2005
    Location:
    AR (ozarks)
    I dont think making a much lower offer will work 95k is way way out of line. My grandpa bought a 150 acre farm with a house for 25k in 75 and paid for it by logging the old growth trees in eastern KY. I think you will do better selling your place for 200k and coming to AR Boyleyz really it is almost the same as KY where I am and lot sof the folks in AR came out of KY a long time ago.
     
  7. Argent Farms

    Argent Farms Pig farmer

    Messages:
    156
    Joined:
    Apr 21, 2006
    Location:
    Wisconsin
    It a'int 1975 no more. Kinda wish I had a time machine, tho
     
  8. moopups

    moopups In Remembrance

    Messages:
    7,102
    Joined:
    May 12, 2002
    Location:
    In beautiful downtown Sticks, near Belleview, Fl.
    $13,571.43 per acre? For raw land? No further comments.
     
  9. Alice In TX/MO

    Alice In TX/MO More dharma, less drama. Supporter

    Messages:
    30,870
    Joined:
    May 10, 2002
    Location:
    Texas Coastal Bend/S. Missouri
    The problem is that California people are fleeing to the rest of the country and bringing their over inflated prices with them. Florida people are fleeing hurricanes and willing to pay to get out before they are blown out. A lot of baby boomers are retiring, and they have an idea of what they want and what they are willing to pay, and what USED to be the norm in any area doesn't matter any more.

    A parcel of land near my place in Missouri went for over twice what locals would pay.....to Florida retirees.

    My advice is decide what you can afford and are willing to pay and make the offer. They can only say no, and you'll have it on the table if the price comes down.
     
  10. Up North

    Up North KS dairy farmers

    Messages:
    3,841
    Joined:
    Nov 28, 2005
    Location:
    KS
    Boleyz - $95,000 will buy a mountain of hay, LOL. If it's a bigger ranch you desire - GO WEST YOUNG MAN, LOL :)
     
  11. Beltane

    Beltane Enjoying Four Seasons

    Messages:
    3,107
    Joined:
    Nov 26, 2005
    Location:
    Beautiful Milton, New Hampshire
    It is unbelievable isn't it??

    This land is right down the road from me! 37 Unimproved Acres EEEKKK!
     
  12. 6e

    6e Farm lovin wife Supporter

    Messages:
    3,236
    Joined:
    Sep 10, 2005
    Location:
    Kansas
    When we bought our 80 acres we paid $500 an acre for it. Now this was just pasture ground. There's no water out here, you either have to pump out of a pond or haul water. Now the land around is selling for $2000 an acre. I can't imagine paying that much for just land. Glad we bought ours a long time ago, but now we're wanting to buy some more land for cattle but we can't afford it. I guess land is going the route of everything else, up, up, up, up!
     
  13. Boleyz

    Boleyz Prognosticator, Artist

    Messages:
    2,053
    Joined:
    Sep 7, 2004
    Location:
    KY
    I may put in a lower offer...The thing is, I paid just $29,900 for my 5 acres of raw land.

    It had no water, no electricity and no mineral rights. I bought it 3 years ago and now live on it in my new home.

    I was stunned at a $95,000.00 asking price for the adjacent 7 acres. I'd like to have it...it might even be worth $35,000 - $40,000. But $95K? Way out of line IMO.

    Jnap, thanks for the invitation to Ark, but we live and work here. That's one more reason I think it's going to be very hard for the "Let's Buy Land Together" thing to actually work.

    People need employment, and often in remote places, there simply is none.

    'Course, my wife is an RN and can literally find work ANYWHERE, but I pastor a nice church, and we're very happy here.

    I'd REALLY like to own the place next door, but it's doubtful I ever will.

    It's just the "farmer" in me...have you ever heard the saying about farmers and land?

    "Farmers don't want ALL the land, they just want all the land that joins them".
     
  14. chris30523

    chris30523 Well-Known Member

    Messages:
    2,056
    Joined:
    Jun 11, 2005
    Location:
    georgia
    15 years ago we paid 2500. an acre.bought 2 acres.5years ago we bought 15 acres paid12000. an acre.We just sold that property for 24,000. an acre.and bought 30 acres hope it holds cause while we made a purty profit we are paying in blood for this 30 acres.Tried to talk my husband into moving and couldn't.He has been here all of his life .We were marked as one of the top 5 retirement communities in the nation.I thought when people retired they built little cabins in the country not the taj-ma-hal. :shrug:
     
  15. George in NH

    George in NH Well-Known Member

    Messages:
    292
    Joined:
    Jun 23, 2002
    Land prices in my neck of the woods is outragous. We had our place appraised two years ago, the appraisal came in at $40,000 per acre; too bad we only have two acres. It is our view that makes our two acres so expensive. We live on the side of a mountain and for as far as the eye can see there are farms, hills, mountains and a beautiful sky with spactacular sunsets. The view from our front door is almost entirely of Vermont even though we live in New Hampshire. It was just ten years ago that the property was appraised at $20,000 per acre. We toy with the idea of selling but always decide to hang onto it even longer. We don't live in anything grand; we had a custom built manufatured home built. It has lots and lots of flor to ceiling windows to take advantage of the scenery. We live in a town with million dollar homes that sell in a heartbeat. If a home goes on the market it is almost always sold within three months; most homes sell instantly. Lots and lots of wealthy people from New York, Boston and other big cities settle in our town. Maine street is lined with mansions. I always joke that we are the gardeners for the rich people since we don't live in a mansion. Even the rich people say they are envious of our view. I am almost embarrassed at the price we paid for this place with it's run down buildings and piles of trash that had gathered for 30 years, but if all keeps going in the dirction it has been going then we will have made a good investment. We only have eight more years until it is paid for.

    I often think back to when my mother and step father bouth a beautiful famhouse with a huge barn sitting on 12 acres for $15,000 (this was 1968) I can't imagine what that place would have sold for today.
     
  16. mpillow

    mpillow Well-Known Member Supporter

    Messages:
    9,569
    Joined:
    Jan 24, 2003
    Location:
    CHINA
  17. Pony

    Pony Well-Known Member Supporter

    Messages:
    19,807
    Joined:
    Jan 6, 2003

    Mpillow, "Meat in the Freezer"??? :rotfl: Very lovely, though.

    Prices seem to be out of line almost everywhere (except AR, as Jnap keeps telling us!), but as Uncle Will pointed out, askin' ain't gettin'.

    Still, I wish I could ask a bit more for our WI land AND get it! ;) But I would never price myself out of the market that way, nor try to drive the market up like that. A fair profit on real estate is fine; highway robbery is just wrong.

    Boleyz, if you low-ball him, make sure he's not offended. Some folk get so angry when you come in with a low figure, they swear by the moon and stars that they'll let the land go to ANYONE but YOU. Real estate is pretty emotional for some folk. :shrug:

    Pony!
     
  18. Sparticle

    Sparticle Well-Known Member Supporter

    Messages:
    2,750
    Joined:
    Nov 1, 2004
    Location:
    Missouri
    When I bought out here, my land was $7,500 an acre. now just 3 years later, it's going for $15,000 and acre for unimproved. My neighbor just got $13,500 for her land and there are no improvements. It's just crazy. I was looking online to get ideas of what a fair price to ask was, so I keyed in my zip code. I about fell out of my chair. I'm still asking what I think is fair, I don't care what everyone else is asking.
     
  19. Wanda

    Wanda Well-Known Member

    Messages:
    2,188
    Joined:
    Dec 19, 2002
    If the buyer and seller agree to the price there is no robbery of any kind involved! The proper term is fair mkt. price. Just because we think that something is overpriced it does not mean that it is.
     
  20. Tabitha

    Tabitha greenheart

    Messages:
    1,751
    Joined:
    Apr 10, 2006
    Location:
    Ky
    where is that guy from? over 12000 an acre!!!!. . In my neck of Kentucky the going rate is 2000 bucks per acre and we thought that was going high. a nice hillside with a view was just sold by owner for 1000 dollars an acre. they just bushhogged it and it really is pretty. Of course I don't know which prime area of Ky you are located in.