Land Prices...

[Klause]

3 1/4s just sold in the Humboldt area for $133,000 each....

Makes the one we bought for $100,000 look like a good deal.




Any thoughts?

Might have 200,000 to invest... wonder if we should buy land with it, or invest it in buildings, the house, etc... and wait on the land.... rent more
in the mean time...

Let's hear your opinions, boys!

[Braveheart]

As much as possible try to invest in things that don't rust or rot.

Klause, go for the land. If you can get it. Sometimes it is only available once in a generation. But it is a rich man's game. If you have a good down payment (sounds like you do), go for the dirt.

Also consider, I think expansion helps your Agri Stabilty situation.

[zeefarmer]

What is the assessment and what is rent in that area? There was 2 quarters of land ( 1 with a natural gas well ) assessed around 60,000 went for $225-250,000. If you can buy for half price of what I can, go for it.

[Hopperbin]

133 thousand is no where near the top and the true land value varies greatly in the area. Sometimes assessment don't even mean anything. What was the land locations?

[derek75]

In the red river valley 2000$ acre is the low end
of the range. Makes it tough for a younger guy
to by land

[Klause]

class F soil, 58,000 assessment....


I'm interesting in buying more if I can find it... anyone
know someone who wants to retire?

[lnewman]

You well never regret buying land , its Hard first year
then you figure it out , and you can and well look back
without having any regrets . Quarters here are now
trading for $3-4000/ac ,Last 1/4 i bought was 11
years ago for $1500, I wish there was more for sale
then . Land only comes for sale every 50 years or more
here. Good luck.

[perfecho]

Well, for controversy........if young family, make sure they have decent house and parents to take care of them, instead of someone too busy trying to make land payments and machinery payments to farm more land. As your children grow up, they won't remember how many 1/4's you have, but they will remember how much time you spent with them.
Young and single....go for it! As long as you have enough time to look for a wife ;-)
Personally, society is going for quantity and leaving quality behind…….but this comes from an old fart……but a happy old fart!

[sumdumguy]

Perfecho, good advice. Land fever has ruined
many a family, including the one I grew up in.

How much do you need. Look what its done to
BTO.

[riders2010]

Good post perfecho! Think it over carefully. Should you buy land or hire cotton for investment advice and make 20% a year on the 200,000 or more by doing next to nothing?

You have tech knowledge and oil experience why not find you're own niche in that industry? 200,000 would go alot farther in owning your own company than in a quarter or two of land wouldn't it?

[wcfarmer]

There was a 1/4 in the beechy area that just traded for 1000/ac. Assesment in the 60000 range. Thought it seemed pretty steep at the time but now i am wondering if it was the right price. The story is that the renter said no and another neighbor swooped in and said yes. I thought the renter was doing the right thing but maybe he made a mistake. Time will tell but it seems all to expensive for this old fart.

[Hopperbin]

Klaus I would suggest putting a land wanted to rent or buy in the Humboldt Journal, put in there that you intend to move here and possibly that you are not a large investor. Most of what I can find for you I would not consider buying or renting myself so why dump the shit on you. Be very careful of buying on assesment or class F or what ever never heard of that. Assessment does not neccessarily mean anything here.

[hobbyfrmr]

Riders has a point. Maybe I am too much on the fence/greener grass. If you intend to farm, buy the land. Invest in youself. This might mean a track hoe for $30,00 and enough work to pay for it in 2 years. Or a vac truck, or starting a business that may very well generate better money than grain farming. If you are determined to buy land then buy it and farm. I have been at this game for 20 years and I still do not have the confidence to say "yeah, its going to work and in the long term there is success in farming."
I do know 3 farmers in my area raising young children living in shitty little farm houses with $750,000 worth of equipment in the yard to do the right job on their 6000acre farm. When canola was $8.00 and wheat $4.00 he mentioned that he was pleased with the performance of his $180,000 combine, but could not pay for his kids' swimming lessons fees. Re reading my post, I can see this is not really providing much direction, just make sure you place good thought into your actions, then proceed.