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buying land

livetohunt

livetohunt

Member
I am looking at buying a piece of land owned by a neighbor. It is 30 acres total and i would like to buy 12 acres of it. 9.5 acres timber a 2 acre pond very shallow with no fish and about a half acre of pasture. The csr rating is 38.18 the land value of the 30.51 acres is $40030. I figure 12/30.51 is 39%, so 39% of $40030 is $15611. Which is about $1301 per acre. Am I in the ballpark for price or do I not know what I'm talking about? Any advice or input would be greatly appreciated.
 
I like how you think but buying any piece at 1300/ac. is probably not going to happen. The days of the farmer approach where timber has no value have been gone for awhile. A nice piece of timber has monetary value and recreational value. I hope your neighbor goes for it though. Hopefully a real estate company doesn't get their hand in it. Good luck.
 
Nope - way low would be my guess. Any chance of building a house on it and your at $5k/acre no problem.
 
You are probably going to have to drop another couple grand to have it surveyed so it can be split into another parcel also. Unless the section you are looking at is already split?
 
Location location location. The closer you are to the Metro the higher the price. From a deer hunting perspective, the better the "neighborhood" the higher the price. You can do your own analysis by going to places like landsofamerica.com or land watch to get an idea on ground prices in your specific area. I don't think I have seen anything less than 2500 an acre in small pieces regardless of area. That being said, if you can negotiate a favorable deal with your neighbor the more power to you. Good luck.
 
The value you are looking at on beacon doesn come close, if it did, a lot of us would be broke :).

If you want to know what the neighbors is worth, decide what you would sell your farm for, and probably add 10%. Those dang neighbors always get to charge a little more.
 
livetohunt said:
I am looking at buying a piece of land owned by a neighbor. It is 30 acres total and i would like to buy 12 acres of it. 9.5 acres timber a 2 acre pond very shallow with no fish and about a half acre of pasture. The csr rating is 38.18 the land value of the 30.51 acres is $40030. I figure 12/30.51 is 39%, so 39% of $40030 is $15611. Which is about $1301 per acre. Am I in the ballpark for price or do I not know what I'm talking about? Any advice or input would be greatly appreciated.
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You can go online or into the county court house and look up past sales within the last year. It should give you an idea of approx. value
 
http://www.rlifarmandranch.com/news_trends.aspx
Same data as ISU puts out.
Smaller parcels, depending on WHERE IN THE STATE can vary but for sure gonna be higher in price. Depending where, I mean, I don't think I've heard of anything under 15 acres selling less than maybe $3k? Most the state, geesh, $4-10k for under 15 acres. If you could buy under $2k, you got a steal, good luck.
 
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Sligh1 said:
http://www.rlifarmandranch.com/news_trends.aspx
Same data as ISU puts out.
Smaller parcels, depending on WHERE IN THE STATE can vary but for sure gonna be higher in price. Depending where, I mean, I don't think I've heard of anything under 15 acres selling less than maybe $3k? Most the state, geesh, $4-10k for under 15 acres. If you could buy under $2k, you got a steal, good luck.
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Spot on Sligh. I bought an 18 acre parcel that had water, power and nothing but super rough ground just last year. I can tell you that under $3k is a bargain. It does have a decent spot to build on but it is as rough as they come.
 
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