What is the value of an acre in your area?

[seclark]

few years ago i bought 30acres of mostly timber for about $70k.
sec

[Hoover]

$21,900 per acre in rural NW Iowa.

http://siouxcityjournal.com/news/loc...491578da0.html

[RINGLEADER]

Originally Posted by Hoover

$21,900 per acre in rural NW Iowa.

http://siouxcityjournal.com/news/loc...491578da0.html

What about Sioux Center (where I got to spend the holidays with the wife's family)?

[mlyonsd]

Originally Posted by RINGLEADER

What about Sioux Center (where I got to spend the holidays with the wife's family)?

I've got to think the Dutchmen up there aren't willing to sell knowing prices will go up. Well, that, and the ground usually stays in the family.

East of there, around Spencer I know of 40 acres that just sold for $16k/acre.

[Hoover]

The Iowa State University Extension Land Value Survey last year estimated the average farmland value in 2011 was $6,708 per acre, up 32.5 percent from 2010.

[Hoover]

I paid 60k for my .8 of an acre and felt like I got a good deal on it. I live in the Des Moines Metro...

[ncCHIEFfan]

I paid 18k for an empty lot, .5 acre that is attached to my home property...Tax value is 22k

[ChiefRocka]

Looking like 80K here 45 miles north of Baltimore and 45 miles south of Philly.

[Iowanian]

There are extenuating circumstances regarding most of those farm sales that go for big money. I know of one 40 that went for $29k per acre in NE Iowa.

Most times, when you're seeing those numbers larger than 10k/acre, which is still ridiculously high, it's because 2 neighbors are fighting over it, it connects to their farms, finishes a section/half section. Sometimes they just want it to square up the farm and get what's close, other times they're buying it so the other guy they don't like can't have it.

Either way, it will never pencil if they're not using a lot of already paid for acres to fund it.

[jeff h]

Originally Posted by Iowanian

There are extenuating circumstances regarding most of those farm sales that go for big money. I know of one 40 that went for $29k per acre in NE Iowa.

Most times, when you're seeing those numbers larger than 10k/acre, which is still ridiculously high, it's because 2 neighbors are fighting over it, it connects to their farms, finishes a section/half section. Sometimes they just want it to square up the farm and get what's close, other times they're buying it so the other guy they don't like can't have it.

Either way, it will never pencil if they're not using a lot of already paid for acres to fund it.

We have a farm west of waterloo and land has been selling near there over $12,000/acre all day long. I know one farmer personally who overpaid at 15k plus change. Another farm went at auction near waterloo for over 21k/acre. Rent for ag ground is easily fetching $350/acre and I've heard rents in the $500/acre range. We bought our first farm in 99 and rent was around $130/acre. Needless to say it has exploded.

[htismaqe]

Originally Posted by Iowanian

There are extenuating circumstances regarding most of those farm sales that go for big money. I know of one 40 that went for $29k per acre in NE Iowa.

Most times, when you're seeing those numbers larger than 10k/acre, which is still ridiculously high, it's because 2 neighbors are fighting over it, it connects to their farms, finishes a section/half section. Sometimes they just want it to square up the farm and get what's close, other times they're buying it so the other guy they don't like can't have it.

Either way, it will never pencil if they're not using a lot of already paid for acres to fund it.

NE Iowa has some of the best soil on the planet, FWIW.

[Buehler445]

For the OP, if it is tillable, 1500-2000 dryland. I have no idea what irrigated will go for. If not tillable, proximity to town, roads, water availability will determine the price.

Originally Posted by htismaqe

Yep. The smaller the parcel, the more premium per acre.

This. Times 1 billion. Homesteads are a pain in the mother****ing ass. Not only does it FUBAR your square field, but you also have to deal with the neighbors that probably don't know a goddamn thing about Ag. So they'll freak the **** out and threaten to sue if you ding their tomatoes with a little sniff of 2-4D. Get all pissed off if you harvest and blow dust in their yard. And my god, if you stockpile manure within 200 miles of their house, watch the **** out.

Originally Posted by htismaqe

NE Iowa has some of the best soil on the planet, FWIW.

It's not just the soil. It is the climate and rainfall pattern.

[Jenson71]

Now is not the time to buy farmland for the purpose of building a house on it. Land will most likely come down some, even if it takes a few years.

[Rain Man]

Man, I'd love to have 30 or 40 acres with a cabin on it. I can't justify it as a recreational thing, though.

I have no idea what land goes for around here. I've seen ads occasionally for "mountain land" near Pueblo for something like $50,000 for 35 acres, but I suspect that's because you can't get water or power to it. Around here, I think water rights are sometimes worth more than the land they're attached to.

[Iowanian]

If it's buildable land in the mountains outside of Denver, that has road, power and water you're paying a lot more than that for a building site. They were going for more than $50k for iffy sites 20 years ago.