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Land Prices !!!

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    Land Prices !!!

    alberta news
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    Wednesday, Jun 14, 2006
    Land prices spur Hutterite colony to sell


    (CBC) - A religious farming community north of Calgary plans to sell out and move away, not because of persecution but because of land prices.

    The 35-member Rocky View Colony, near Crossfield, can't afford to expand as its population grows. Land values have jumped tenfold since it was founded nine years ago.

    So for the first time anyone can remember, a Hutterite colony in Alberta is selling rather than buying.




    Rocky View's leader, John Hofer, says the decision to start over may have been the hardest the colony has ever had to make.

    "Me, my wife, my family been here nine years," he said. "I really love this country. ? I would love to spend the rest of my life here, see the mountains on a sunny day."

    It took "at least a two, three years to think about it, to sell this place or come to a conclusion what we want to do," he said. "When we first got here, land wasn't that bad, but in the last couple years the land has gone sky high."




    Rocky View is 1,000 hectares of rolling farmland, with the Rockies on one horizon and the big sky everywhere else.

    The whole spread, including houses, an industrial-sized kitchen and laundry, automated pig and poultry operations, and other buildings, shops and silos is on the block. Asking price: $25 million.

    It is a modern, self-sustaining farm operation, but that may not be a selling point.

    Allan Fox is a Lethbridge real estate agent who specializes in agricultural properties, especially those involving Hutterites. He said there have been lots of inquiries ? some from overseas ? from people who are interested in the property because of the view of the mountains and its closeness to Calgary.

    The tricky part is finding a buyer with the know-how, manpower and financial backing to run it as a farm, he said.

    Hofer said he doesn't know where the colony will go. Members will look for a place to put down new roots once Rocky view is sold, he said.

    #2
    hmmm....$10,000 an acre! Good luck!
    But then you never know? $10,000/acre looks pretty cheap to European farmers!
    It would seem developed industrial land in the Red Deer area is right around that $200,000/acre range and if you win the "zoning jackpot" you might be the next multi-millionaire! Houses in Red Deer are quoted as an average of $269,000! I don't know how they get that figure as even old broke down post war houses are selling for that! The newer fancy 2000 footers are selling in that $400K-$500K range! On a postage stamp lot! Kind of puts land prices in perspective?

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      #3
      In the town in my community 50 year old oil patch houses that were slapped togheter in the first place then moved in from remote locations and put on basements in the early 60's are selling for $200,000. Unreal, makes me glad I am not starting out. I have spent a kings ransom on my house upgrading windows, siding, flooring etc., but not mortage to worry about thank the Lord.

      Comment


        #4
        Now I wonder, if those Hutterites sell at $25 million, where will they go? You could buy a whack of land in Saskatchewan with that kind of dough!
        Kind of makes you wonder why more Alberta farmers aren't doing the same thing?

        Comment


          #5
          some colonies are choosing to locate in the Peace region. The only drawback in some areas is adequate water but otherwise they seem to be welcome as long as they abide by the rules when developing their livestock operations.

          Comment


            #6
            I know we're talking different areas here ( I live just SE of Calgary 10 minutes )but bare farmland 5 km from our farm has already sold for $10,000/acre and some for $18,000. The most recent listing is absurdly priced at $48,000/acre. It's ridiculous but some wahoo developer may just buy it. Calgary and of course all it's oil related business is so overblown and overpriced right now it's crazy. I may be somewhat bitter being stuck in the mire that is grain & oilseed production, but I figured I'd just share the real estate info with you fine folks of the forum here.

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              #7
              A half section here sold last week for slightly over $3000/acre...that was with the farmsite already subdivided out. Not as high as the prices around Calgary obviously but in reality not much chance of being developed for a long time. The buyers were actually a full time farm family who had rented it for several years!
              Now in reality I doubt there is anyway this land will ever pay for itself? It is zoned Ag B, which means no developemnt. How do you justify paying $3K/acre?

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                #8
                I wont say what that size of farm would sell for in saskatchewan but for 25 million the hutts could own western saskatchewan.

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                  #9
                  Just a minuet they could have my farm for 50,000,000.00 and I would sell
                  Cleaning plant, Huge Shop,Huge 2 storage sheds and hopper bins galore also a very good well Plus two 2000 Sq ft houses. And they could almost triple the size of their farm.

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