Hardwood11
It is going to be a good fall!
Singlecoyote: I think it was 160 acres
Joey---That sounds like a good buy, what county?
Joey---That sounds like a good buy, what county?
Hardwood11
It is going to be a good fall!
What is everyone else seeing for prices? Recreational ground is still dropping from what I have heard? Anyone seeing any good deals?
Ridgerunner
New Member
Iowa Land Sales Report
A good resource I have found and used is the Iowa Land Sales Report. It is a bit pricey, but there are discounts for multiple counties and they give you details of recent sales. I have been looking pretty hard for some ground in S. Iowa the past six months and most people are hanging on for a good price and not biting at offers made for 200 - 300 less than asking price. I am sure this information is available from other sources as well, but perhaps not as much breakdown of CSR's etc.
A good resource I have found and used is the Iowa Land Sales Report. It is a bit pricey, but there are discounts for multiple counties and they give you details of recent sales. I have been looking pretty hard for some ground in S. Iowa the past six months and most people are hanging on for a good price and not biting at offers made for 200 - 300 less than asking price. I am sure this information is available from other sources as well, but perhaps not as much breakdown of CSR's etc.
Hardwood11
It is going to be a good fall!
Ridgerunner: How many acres are you looking for, approx price.. which general area? I might have a lead on a nice property at a reasonable price...
Feel free to PM me as well.
Feel free to PM me as well.
iowaguy365
New Member
what are you guys thinking land prices will do?! would like to adress this thread and see what guys are thinking for prices in 2014-15!
Thinkin Rut
PMA Member
Everything is going against land values at once. Interest rates are up and going higher, grain prices down and probably will stay, the deer herd has fallen apart with no solution in sight, all the Obama unknowns and now the stock market correcting. It is not a question if land values are falling, it is how far will they fall. Like HW11 said, the bleeding will stop when interest rates stop rising. They wasn't making any more land in the early eighties either. If you have a half a million to put down on 200 acres of hunting ground I would do it, you earned it but if you are putting your ass on the line I wound pull back. Don't love something that can't love you back.
letemgrow
PMA Member
I think they will go down farther than they are now. Land back at the 800-1200 range for recreational is what I'll predict in the next 2 years.
The primo crop ground with high CSR's will always be in demand...
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chipterp
PMA Member
800 to $1200 ground will never happen unless the deer all disappear I wish it would get there but most recreation tracts still have farming or crp on them and crp pays very well when renewing these days.
I know of a really nice piece of mature timber that was about 35 acres just sold here (SC Iowa) for $3000/acre. Timber value also plays a roll in the value. I think the smaller parcels will continue to hold good value. I also think that the turn-key type hunting properties that already have a lot of habitat improvement and food plots, blinds, etc., will continue to hold their value. Especially, if they have a good track record of producing mature bucks. In my opinion , there may be an opportunity to buy more marginal ground and then put your own efforts into making improvements.
I agree with chip, no way will we see Iowa land under 2000/ac. The value of having a piece of land to hunt, fish, shedhunt, ride atv's, get away for a weekend etc. is invaluable. Owning land is a form of recreation and folks pay a lot of money to be entertained in different ways aside from hunting. Everytime I waited to buy land thinking prices would decrease, they never did!
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westpointhunter
PMA Member
The pieces that have proper management in place and a strong herd will only increase in value. Supply and demand...these pieces will become few and far between. If they have Ag income even better.
letemgrow
PMA Member
Interest rates will play a large factor. Cash will be king if interest rates really jump. That will drop the price per acre for people that are taking out loans for the land. Those will cash on hand, will get some steals...least that is my prediction.
Land in my area was $650 per acre in 2004 for hill ground with crp and some timber. This was in Mercer County, MO which sits next to Wayne/Decatur County IA. I believe IA land during that time was going for 200-300 per acre more. Its just been my experience that when things go up 2, 3 or 4 times in value so fast, they never last in the long term like that. Other variables come in and stabilize the market.
BigfootWillow.com
Tree Climber
Some land is already not far off from that mark if it is not crop land. Here is an extreme example of land that was for sale for long time that was under that amount for obvious reasons.
http://www.landsofiowa.com/iowa/land-for-sale/120-acres-in-Muscatine-County-Iowa/id/1612499
Seems like a bunch of good things happened at once to keep pushing up the land prices by double digits every year, even if land prices dropped 50 percent in a short time frame, would still be more expensive than a few years ago.
Hardwood11
It is going to be a good fall!
Well as I look back at old posts, it shows that it is hard to predict land. I personally thought it would continue down in 2008-2009, but it shot right back up...tillable went nuts.
Now we are seeing a bit of a correction, although good rec ground is holding it's own.
I wonder about the guys that paid $15,000 an acre for tillable, sounds like they are wealthy and can manage it, but somewhere in there are a few guys that took out loans and they could be in trouble, especially if they have a variable interest rate.
Now we are seeing a bit of a correction, although good rec ground is holding it's own.
I wonder about the guys that paid $15,000 an acre for tillable, sounds like they are wealthy and can manage it, but somewhere in there are a few guys that took out loans and they could be in trouble, especially if they have a variable interest rate.
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Hardwood11
It is going to be a good fall!
Good point!!
WRP is always a crap shoot. Some WRP is dirt cheap in MN. If anyone wants a pheasant and duck parcel in Mn, it can be bought for $200 an acre.
WRP in Iowa is all over the board for prices.
WRP is always gonna be really cheap.
IMO - I think Iowa's rec ground is still undervalued. Short term we may have some short term dips but long term, I think it'll catch up with places like IL, WI, lower MN, IN, etc. Most of which are $4-5k in good areas with good mixes. Sky is the limit in Iowa if something creates a lot of demand, 5% timbered areas- there really is just so little of it. Iowa is very friendly for low taxes, habitat improvement programs and high income from tillable.
Undervalued is how I still will look at it even if it takes some dips down short term
IMO - I think Iowa's rec ground is still undervalued. Short term we may have some short term dips but long term, I think it'll catch up with places like IL, WI, lower MN, IN, etc. Most of which are $4-5k in good areas with good mixes. Sky is the limit in Iowa if something creates a lot of demand, 5% timbered areas- there really is just so little of it. Iowa is very friendly for low taxes, habitat improvement programs and high income from tillable.
Undervalued is how I still will look at it even if it takes some dips down short term
Tim Hull
PMA Member
I heard about that Muscatine ground as I live in Muscatine. You can't make improvements to the land for ducks as it is next to the airport and the FAA doesn't think that ducks and planes mix, lol. I believe you are also responsible for dredging the canal and that is why it hasn't been sold.
GOARMY
New Member
I dont think the rec ground will ever be 800 bucks an acre ever again. If it is land will be the last thing you will be worried about.
I used to own a killer waterfront house and 4.8 acres of the best deer hunting a place that small can have. Listed it with an agent that allowed people to beat her up and tell her it was not worth it. I listed it for 840,000 and I know it was worth well north of 1.2 million. well all summer I ran into people on boats from all over that loved the house. I got pissed at the agent one day as I did not think she could close a deal. I had people coming down my drive way telling me they would give me 250k for it. I said what year are we living in cause I must have slept through like 20 and we are back at 1970 prices.
I changed agents and relisted it and it was sold in 2 weeks for the full price. The buyer put down 400k and wanted me out of the house in 3 weeks. I got hunting rights for another year outta the deal. My point is if you have something of quailty and price it right there are buyers. If you are waiting for land to tank you may be waiting a long time for nothing. Buy when you can and I bet you will be happy in the long run.
I think Sligh1 is correct, Iowa land is under valued and worth a good bit more than it goes for right now. If you have nice timber well even non hunters fall in love with that. I and now its just me like land more than any other asset hands down.
In another case the land next to my existing farm came up for sale. At the time it was 70K for a 10 acre farmette. the seller had 3 parcels next to me and I got 2 of them and just missed the 3rd. Well I sold one of the parcels to my next door neighbor 2 years later for 249,000. At the time those lots were bringing top dollar. A new money guy moved into the area and bought a farm 2 away from me. He wanted the piece I sold him as a long term investment. Now 13 years later land there is almost insane price wise.
I used to own a killer waterfront house and 4.8 acres of the best deer hunting a place that small can have. Listed it with an agent that allowed people to beat her up and tell her it was not worth it. I listed it for 840,000 and I know it was worth well north of 1.2 million. well all summer I ran into people on boats from all over that loved the house. I got pissed at the agent one day as I did not think she could close a deal. I had people coming down my drive way telling me they would give me 250k for it. I said what year are we living in cause I must have slept through like 20 and we are back at 1970 prices.
I changed agents and relisted it and it was sold in 2 weeks for the full price. The buyer put down 400k and wanted me out of the house in 3 weeks. I got hunting rights for another year outta the deal. My point is if you have something of quailty and price it right there are buyers. If you are waiting for land to tank you may be waiting a long time for nothing. Buy when you can and I bet you will be happy in the long run.
I think Sligh1 is correct, Iowa land is under valued and worth a good bit more than it goes for right now. If you have nice timber well even non hunters fall in love with that. I and now its just me like land more than any other asset hands down.
In another case the land next to my existing farm came up for sale. At the time it was 70K for a 10 acre farmette. the seller had 3 parcels next to me and I got 2 of them and just missed the 3rd. Well I sold one of the parcels to my next door neighbor 2 years later for 249,000. At the time those lots were bringing top dollar. A new money guy moved into the area and bought a farm 2 away from me. He wanted the piece I sold him as a long term investment. Now 13 years later land there is almost insane price wise.
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