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Post by Decatur on Oct 10, 2012 13:11:11 GMT -5
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Post by featherduster on Oct 10, 2012 13:51:21 GMT -5
Good question. I would think that a lot of people have been sitting on homes that they couldn't sell for what it's worth because of the economy but lately ( up until this past week) the stock market has been looking good and maybe some feel now is the time to list. I would also speculate that some of these properties belong to older folks looking to down size. Just my $0.02 worth
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Post by Deleted on Oct 11, 2012 5:18:23 GMT -5
The real estate market is still very-very poor at best. Our economy is in terrible shape thanks to the Ferderal Reserve & our current administration in Washington D.C. I've seen a ton of properties on the market for years being marked way down in price but still they sit and are becomming "White Elephants". This past week, so far, has been bad for the stock market with weak earnings, unemployment and of course our weak dollar.
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Post by Boilermaker on Oct 11, 2012 6:22:40 GMT -5
Seeing the same thing at a little private lake here; there was a waiting list at one time for people wanting to buy a property when it came up for sale. Now there's 7 lots for sale and no one is interested. Part of the problem is these lots were going for a premium when the economy was fine, now people are trying to sell them for that same premium price in a crappy economy. I'm ok with it...it leaves all the good fishing spots less crowded!
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Post by Deleted on Oct 11, 2012 6:36:36 GMT -5
Seeing the same thing at a little private lake here; there was a waiting list at one time for people wanting to buy a property when it came up for sale. Now there's 7 lots for sale and no one is interested. Part of the problem is these lots were going for a premium when the economy was fine, now people are trying to sell them for that same premium price in a crappy economy. I'm ok with it...it leaves all the good fishing spots less crowded! Currently real estate is not a good investment. Land is currently losing value which means if you find a piece of land you'd should buy it outright with cash not with a loan. This period can be a buyer's market depending how bad the seller is willing to accept.
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Post by Boilermaker on Oct 11, 2012 6:42:05 GMT -5
There's a lot of land for sale around here, but it's going for record high $/acre in our county and surrounding counties; could be a regional thing. Highest I've heard in this area was somewhere around $12,000.00/acre for productive farmground, with an average around $8,000/acre.
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Post by tenring on Oct 11, 2012 7:14:44 GMT -5
At 8-12K per acre, can a profit be made off a crop?
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Post by indyqdog on Oct 11, 2012 7:30:10 GMT -5
my friends family just bought a lakehouse on freeman. We go all the time and its a blast. everyone there is super nice on the water. and the town has a nice, quaint, feel
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Post by Boilermaker on Oct 11, 2012 7:36:52 GMT -5
At 8-12K per acre, can a profit be made off a crop? There's no way...at least not in my simple mind.
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Post by Deleted on Oct 11, 2012 7:43:38 GMT -5
There's a lot of land for sale around here, but it's going for record high $/acre in our county and surrounding counties; could be a regional thing. Highest I've heard in this area was somewhere around $12,000.00/acre for productive farmground, with an average around $8,000/acre. Back in the 1990's they would very likely received the amount they wanted but not today. Farmland that is 100% tillable is the most valuable but not rough hunting land. Before the GO-GO days of the late 1980's through late 1990's I bought land out in Colorado & Iowa and in Ohio for a "Song" and sold lots of land for development in Ohio did quite well but wouldn't do it with todays economic conditions.
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Post by GS1 on Oct 11, 2012 8:56:48 GMT -5
At 8-12K per acre, can a profit be made off a crop? Yes. There's 290 acres here that has been bought and paid for in 13 years. Another 20+ years of farming paid off ground to go.
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Post by Deleted on Oct 11, 2012 9:14:47 GMT -5
At 8-12K per acre, can a profit be made off a crop? Yes. There's 290 acres here that has been bought and paid for in 13 years. Another 20+ years of farming paid off ground to go. What crops
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Post by swilk on Oct 11, 2012 10:34:17 GMT -5
At 8-12K per acre, can a profit be made off a crop? There's no way...at least not in my simple mind. Been going for $8-11,000 an acre around here. Must be money to be made or it wouldn't sell for that.
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Post by trapperdave on Oct 11, 2012 11:09:44 GMT -5
Yes. There's 290 acres here that has been bought and paid for in 13 years. Another 20+ years of farming paid off ground to go. What crops have you not seen the price of grain the past few years? corn @ $7/bushel...get 150 bu/acre...there's a grand n change/acre beans are around $13/bushel......
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Post by Deleted on Oct 11, 2012 11:22:31 GMT -5
As I understand it the reason grain prices are so high is due inpart to the drought conditions plaguing those area that grow grains, if they can. In addition many small farms are going under or selling to large farm that may or may be foreign companies.
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Post by dadfsr on Oct 11, 2012 11:24:46 GMT -5
What crops have you not seen the price of grain the past few years? corn @ $7/bushel...get 150 bu/acre...there's a grand n change/acre beans are around $13/bushel...... Now add in the cost of machinery to cultivate, plant and harvest that crop...checked price of a combine lately??? Then add in the cost of the fuel to do all the above Then add in the cost of the seed itself. AND how about the chemicals used to make sure that crop is harvestable..... Well I think you get the picture-just because the selling price of the crop is high doesn't mean there is much profit!
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Post by Deleted on Oct 11, 2012 11:26:58 GMT -5
have you not seen the price of grain the past few years? corn @ $7/bushel...get 150 bu/acre...there's a grand n change/acre beans are around $13/bushel...... Now add in the cost of machinery to cultivate, plant and harvest that crop...checked price of a combine lately??? Then add in the cost of the fuel to do all the above Then add in the cost of the seed itself. AND how about the chemicals used to make sure that crop is harvestable..... Well I think you get the picture-just because the selling price of the crop is high doesn't mean there is much profit! **BINGO**
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Post by GS1 on Oct 11, 2012 12:58:52 GMT -5
Add in everything you want. My family has farmed the same ground since my grandfather got it when he was young. He would be in his upper 90's if he was still with us. Another farm was added 15 years ago. Last year a new to us combine showed up and I was told that wouldn't happen until that farm was paid off. Do that math.
One local farmer did go on the news and say he was going to make $500,000 less than last year because of the drought.
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Post by steiny on Oct 11, 2012 18:22:55 GMT -5
That number of lake homes for sale on Shafer & Freeman doesn't seem all that unusual to me. Freeman has roughly 50 miles of shoreline, and probably two thirds that amount on Shafer. When you figure most of those lake homes are jammed in one after the other on 50' to 75' lots, those lakes have thousands of homes on them. Lake homes constantly change hands like that.
Regarding grain prices, they've been up real high since ethanol started being produced around here 4-5 years ago. This drought will jack them up a little higher yet.
We've been seeing good farm ground go for $8-10,000 per acre around here which seems crazy, but many of these farmers have had real big years and are cash flush. If they don't spend it on equipment, facilities or ground, then they will be giving a huge portion of it to Uncle Sam in taxes. The low yields from this drought will slow that spending down some, but the AG economy is still pretty darned solid.
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Post by Deleted on Oct 11, 2012 18:31:15 GMT -5
The farmer that farms the land I lease in Knox County reports that this year is his best ever. Contract price on corn was over $7 an acre, some of his fields yielded 200 bu/ac. Beans were great as well.
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