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New farm land record sale
mac10
Member Posts: 2,700 ✭✭✭✭
A plot of tillable ground sold new record price of 34,000 an acre in Missouri,tillable ground getting expensive
Comments
It's a tough choice to make. Most of the really high dollar land is being used as a tax dodge. I got an offer to buy a month back:$3.5 mil. If that was offered, the actual value is approximately double that figure.
I wonder if it was a Chinese conglomerate buying that land??? It is starting to get out of hand.
WOW
crazy prices for sure
I worked with a handful of people who inherited the "farm" something I would never had to worry about or hope for 😥
they talked about not being able to buy new equipment or had the time to take care of it and work ( lucky people for sure )
I suggested sell it or at least rent it out take the money quit your job possibly depending, ? of course then enjoy your life at least sell all the road frontage s that waht sells for the most $ around here any way
even though just tillable land has also gone crazy in prices also
Around here I’ve seen tillable ground go for $12,500 an acre, but heard of some that went for $14,000 an acre but can’t verify that price. Now 30 years ago the railroad bought 25 acres of ground at $50,000 and acre from a farm to put in a cross over from one railroad to another. That farmer still has a smile on his face.
Last parcel of tillable land in our neck of the woods was just under 8K an acre.............. I can not figure out how anyone would make a buck off of farming land that costs 34K.. I am guessing it will soon be used for something other than farming !
Our farmer neighbors and good people i will add they are are 3 or 4th at least generation on the farm they have bought up several + farms since i met them
About a mile south of us they bought a farm tore down the house and out buildings and storage like silos
Leased out the land its in process of having a large solar farm being built
A lot if locals protested but to no avail
I am Not sure what the $$ agreed for the lease or how many years I know it was not cheap and for a long time
2,200 acres for $23,000,000 ranch land with a little hay. Was on this ranch 3 weeks ago.
Wow that is breath taking....If I had $23,000,000 that is what I would want !!!!! I guess we will never know.
That’s one of three, all contiguous. One headquarters house has one massive bedroom, among others. The big one has John Wayne memorabilia everywhere. That’s where he slept when filming True Grit. It has an indoor salt water swimming pool. And no, they don’t have to make a profit on them.
Land prices and terms of the sales can be tricky to interpet the reasoning behind such purchases, In 1989 I sold 1400 acres of prime farm land to a French industrial group, they paid 1/3 down with the rest to be financed by me with 2 annual payments of 1/3 each, plus interest. They never made a yearly payment, the initial down payment was a loss to them and they had no remorse in losing it. The property reverted back to me...... there was absolutely no complaints from me, I was a happy camper 😊......they left here and did a similar deal in New Zealand, same results, same ending....🙄.
"Never do wrong to make a friend----or to keep one".....Robert E. Lee
Sure glad that I can LOOK at these beautiful lands without having to open my wallet! 🙂
I knew Wm81 had the big bucks. Deer at least.
Here in SE Wisc. it's going for $10,000 an acre. HOWEVER, if it's developable more like $25,000!
It really is sad when land becomes to valuable to grow food. Good thing a lot of people storage is verticle.
I saw that on Ag Day last week.
Makes me wonder about my family acres in the Washita Valley, in Oklahoma.
Land.......The Good Lord ain't making any more.🤔
Places like the one in the pics are "rich Dude hideaways". That $34K/acre MO land is next to someone who inherited Grandaddy's farm and needs to spend a gazillion bucks to prevent paying an unbelievable amount of taxes(just a SWAG).
There's a lot of money to be made in certain aspects of farming these days but most of the gain is simply related to manipulating your losses. The people making big $ farming are those who didn't just begin yesterday(and most likely inherited their way into the farming game).
I'm replacing a shop that was destroyed in an 11/2/22 wildfire. It's a very modest size and basically a shell to be finished as time and $$ allows. The building, site prep, and electric service is going to cost as much as I gave for 200 acres in 1980.
Much of the AG land in my area has been sold off for big bucks to developers who are building multi million dollar mansions. The middle class cannot afford to live here anymore!
How big was the total plot of ground? And did it have any improvements? It's not absurd to pay that much for an acre of ground near city limits, especially if it has a well, power, and other things like that. And where I am, it absolutely could be zoned rural.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
I have a feeling the Government is going to be doing something in the area. New prison or some one has a new grow license for Mary Jane etc...
I'm sure all the neighboring property owners will be very happy paying more in local property taxes after the re-evaluations are done due to that one transaction....🤬.
"Never do wrong to make a friend----or to keep one".....Robert E. Lee
Here's the Ag Day episode that contains the land sale.
IIRC......it was about 150 acres.
Enjoy.......
The article I read said 115 acres... It is located about 50 miles or so from our farm...
SOLD! 115 Acres of Missouri Farmland Just Sold For $34,800 Per Acre, Smashing the Previous Record | AgWeb
How many years of row cropping is it gonna take to pay that off?
More than my life time for sure !!!!
YOU GOT THAT RIGHT.
Farm land is or should NEVER be paid off, that's why it's hard for someone to buy just a few acres out of a decent size farm to build a home on, not worth the landowners trouble to lawyer up and have a survey done to cut a portion out and if you do go to the trouble the funds go directly to the lien holder not the landowner.
"Never do wrong to make a friend----or to keep one".....Robert E. Lee