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Land Prices

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Bighole

Member
Just wondering if anyone has been tracking the price of timber/recreational land in Iowa. Have prices been up, down, or steady. What are people paying? I have lost track over the last year or so.
 
i think it all depends on the quality of the land, but around eastern iowa around 1600/ acre.
 
Here is a link to the Iowa State University Extension Service 2002 Land Value Survey. This will give you all the information you are interested in.
Hope this helps!
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Land Prices
 
The file is in .pdf format and you need to have the current acrobat software on your computer. The link works for me. You tell me what county and I will tell you the high, medium and low grade price averages for 2002.
 
Thanks again, I tried that link again and got it to work. I assume for their study that timber/hay ground would be considered low quality, even though that's not the way we may view it. Is $1000/Ac. in southeast Iowa to much to pay?
 
I would say buy it if you like the ground. A lot has to do with if it has any harvestable timber on it or not. Obviously, a timber full of mature white oaks is going to be higher valued than scrub brush or pasture ground.

My most recent news about some ground over by Farmington Iowa that sold in an action about a month ago. There were two 40 acre parcels that were average timber ground. One sold for $1650 and acre and one sold for $2400 an acre.

The smaller pieces will always seem to go for a higher price than the larger parcels. Everyone wants to buy 20 acres in the country and put a new house on it.

Another factor affecting the land price increase was that interest rates were at an all time low recently.

Makes me feel pretty good about my purchase in 1990.
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Bighole,
I'd agree completely with Ghost Walker. The land survey is a good tool but it can't keep pace with the changes we are seeing. Smaller tracts are in high demand for recreational purposes & are really affordable when you consider the cost vs return on CD, bank type deposits.
 
Depends were you looking to buy land and what quality farm land is on it.
Recent auction in keokuk county a farm went for average of 950 a acre.
About half timber and not the flatest land by no means but it does have some decent hunting on it.
Need to start checking the paper for auctions and the type of land for sale in a area you may be intrested in.
Cant bid if you aint there.
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Sure makes me feel all warm inside to know I only spend $300 an acre, of course that was in 1975, but did get another 40 along side for $550 an acre a few years ago. You just need to keep your eyes open and your check book ready.
 
3 years ago we bought 25 or so acres that border our farm for 550 an acre. I hope the land prices stay relative to wages in iowa, so that way if a guy saves he can have a small piece of land to call his own. How do you guys think the land prices will be in the future??
 
Agreed. Especially for decent hunting land. Too many rich city slickers are looking for a honey hole.

Wonder how long before big hunting outfits like Mossy Oak or Realtree will be buying up good hunting land too. Might be wrong but I think they are already.

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That and the other sad thing is seeing so many good fence lines or creek lines getting cleared out so that extra little bit of land will be farmable. See that happen to much. That is great habitat that gets destroyed for what - more farm ground when people complain about the prices anyway. Not attacking farmers - personally know many. Just something that really bugs me.

Sometimes I wonder when we will be in a dust bowl?
 
It's the American way. If you want it, you buy it. You are free to do so. Darn good investment too. Wish I had more money so I could buy more land for both the land and the investment.
 
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