Land prices.

This one is hard to believe. These record prices I've been hearing about come mainly from Amish/ Mennonite community near me. A buddy called me and told me this one last night. He owns his home place that is within the expanding area of above community. Old farmer neighbor of his owned 100 acers of nice prime farm ground. Some folks from above community had been trying to buy it for years. Finaly got the job done last week. Three families pitched in and offered him 53 K an acer for it. Needless to say, he took it. My buddy said he doesn't want to sell out but daaaaam!!!
 
birddude said:
This one is hard to believe. These record prices I've been hearing about come mainly from Amish/ Mennonite community near me. A buddy called me and told me this one last night. He owns his home place that is within the expanding area of above community. Old farmer neighbor of his owned 100 acers of nice prime farm ground. Some folks from above community had been trying to buy it for years. Finaly got the job done last week. Three families pitched in and offered him 53 K an acer for it. Needless to say, he took it. My buddy said he doesn't want to sell out but daaaaam!!!
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That furniture and jellies must be doing well.
 
I made a big mistake about 3 years ago, my buddy wanted to sell me 80 acres of rough ground that was once farmed. It was enrolled in CRP and NE Open Fields and Waters which generated enough to pay the taxes with some left over and he wanted $50K. I didn't have liquid cash since I wasn't retired yet and the bank wanted 8% interest.
He sold it 1.5 years ago for $65k. Same ground sold last week to a person from out of state for $235k. It's poor ground, no water and too small for hunting. I don't know what they are going through to do with it!
But on the positive side for us, our small get-a-way cabin we bought for $55k is now worth about $300k. The downside is we now live here full time and if we sold we'd have to buy some other over priced place to live.
 
airmedic1 said:
I made a big mistake about 3 years ago, my buddy wanted to sell me 80 acres of rough ground that was once farmed. It was enrolled in CRP and NE Open Fields and Waters which generated enough to pay the taxes with some left over and he wanted $50K. I didn't have liquid cash since I wasn't retired yet and the bank wanted 8% interest.
He sold it 1.5 years ago for $65k. Same ground sold last week to a person from out of state for $235k. It's poor ground, no water and too small for hunting. I don't know what they are going through to do with it!
But on the positive side for us, our small get-a-way cabin we bought for $55k is now worth about $300k. The downside is we now live here full time and if we sold we'd have to buy some other over priced place to live.
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80 acres isn’t too small. Know lots of guys who buy their 40 for hunting. Any slough or trees or just 80 acres of crp? Regardless I would have hopped on that in an heartbeat and made it work me thinks. If anything an investment. Not making more of it. Less than a new truck.
 
Son in law family has 76 acres that he has taken some wonderful bucks off of. Do a bit of goose hunting when they take the crops off. Land all around it is own by a large corporation. Has a nice little creek running through it. Company that owns the land around it has offered 650,000 for it they countered with 1.25 million. Needless to say we still get to hunt and shoot on it. Across the road from me they are developing into lots, farmer has 75 acres up for sale 1.5 million I see the for sale sign is down word is that it's sold.
 
birddude said:
This one is hard to believe. These record prices I've been hearing about come mainly from Amish/ Mennonite community near me. A buddy called me and told me this one last night. He owns his home place that is within the expanding area of above community. Old farmer neighbor of his owned 100 acers of nice prime farm ground. Some folks from above community had been trying to buy it for years. Finaly got the job done last week. Three families pitched in and offered him 53 K an acer for it. Needless to say, he took it. My buddy said he doesn't want to sell out but daaaaam!!!
Click to expand...
It's probably old coal money. From the 70's until the war on coal, coal mines were prevalent in their area. Rumor used to be that the town (800 people) contained the most multi-millionaires per capita in the state.
 
birddude said:
It's probably old coal money. From the 70's until the war on coal, coal mines were prevalent in their area. Rumor used to be that the town (800 people) contained the most multi-millionaires per capita in the state.
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The town we sell most of our cattle in has a large population of Amish/Mennonite around and I love when you see a bunch of them show up to buy $$
 
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