Price of Land

[lakenheath]

What is land selling for in your areas? I know that bids seems to a bit lower in our area this year, but there always seems to be some guys with cash around to keep prices high. You would thing coming off a drought that some of the bid values would fall.

[dnach]

Land in the North Battleford area still has an asking price of 1.1 to 1.3 times the new assesments. Not much has been sold lately, as this pushes asking prices to around $100,000 per 1/4. Absolutely not feasable no matter how you look at it.
First Nation Bands are the ones pushing or keeping land prices up in this area.

[lakenheath]

Isn't that absolutely crazy. There is no reason. I don't care how big of an operator you are, money can't be made of land purchased for that price. Our land is going for 1.2 times assessment which usually equates to approx $80,000 per 1/4. I farm in South Central Saskatchewan (1 hour South of Moose Jaw). When are people going to wake up. Land rent is another issue.

[cris]

Last good section I heard of selling was at $130,000 a 1/4. North East Sask. all open good farmland but not the best in the area

[countryguy]

There always seems to besome idiot paying more for something than it is worth doesn't there?

Land in the parkland area of Manitoba has been selling for asessment to WAY above assessment prices.Last I heard rents are up to 50 per acre.

I've seen many cases already where these guys that pay these prices don't last very long.I've seen large farms that were very greedy get killed by one bad year.The problem is these idiots don't do the rest of us any favors in the land price department.

The latest fad in my area is land owners listing their land at OUTRAGOUS prices trying to sell to Europeans.The funny thing is we're not in an area where Europeans settle.Not one yet.We're just too far away from a larger city.It's just getting a little frustrating when you offer a guy way more than what land is selling for here but he won't sell because he's waiting for more.

Okay,I'm done my rant..

[cowman]

I have a neighbor who looks at this thing in a different way. He figures if the land can pay the interest then it is a good buy and it actually works very well for him! Example: About four years ago he bought a bare quarter for $1400/acre or $224 K. He sold it last fall after taking off the crop for $1950/acre or 312K for a net profit of $88K. Now the money he paid for the land originally was his own and he charged himself 7% interest. He grew some very good crops in the four years he had it and figures he made some money, but his real profit was in land speculation. He didn't have to pay any tax because of the capital land exemption but he told me he is getting near his limit as he has done this on two other quarters before.
Now this is an area where the demand is high for sure but in the last few years I have seen parts of Saskatchewan that also have rising land values. I guess though this is more about profit by speculation than profit from farming. But either way the money still spends the same way!