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Land prices

chipterp said:
Could have been a great flat piece with csr's in the 90s and they really wanted it. All farms have lots of variables from one to the next.
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OK thanks. I'm new to this and a few family members are looking at trying to purchase this land.
 
The big problem is it's a terrible time to buy tillable. It come down some but its as high as its been in a long time. Also it is falling in assessed value slowly and with no end in low corn prices around the immediate corner its going to come down again this year. So you will be buying high and losing right off the bat. Most landowners hear talk and speculation. They want to sell now because why not? Never been worth more. I don't know if its a farm purchase, recreation or investment, but unless there is old money involved and you don't have to borrow, its hard to make today's numbers make sense. I know our corn is the best its ever been this year, and I am hearing great numbers coming out so far for yields. Not to mention old crop in storage still. I want to buy another farm to add to ours as well, but I am going to wait personally. It's tough when it's a place you know or have dreamed of owning, makes objectivity tough.
 
Oct-Lull said:
The big problem is it's a terrible time to buy tillable. It come down some but its as high as its been in a long time. Also it is falling in assessed value slowly and with no end in low corn prices around the immediate corner its going to come down again this year. So you will be buying high and losing right off the bat. Most landowners hear talk and speculation. They want to sell now because why not? Never been worth more. I don't know if its a farm purchase, recreation or investment, but unless there is old money involved and you don't have to borrow, its hard to make today's numbers make sense. I know our corn is the best its ever been this year, and I am hearing great numbers coming out so far for yields. Not to mention old crop in storage still. I want to buy another farm to add to ours as well, but I am going to wait personally. It's tough when it's a place you know or have dreamed of owning, makes objectivity tough.
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It will be for everyday living. If we can pick it up we will plan on building a house in the future. If we can lease the tillable then that's what we will do.
 
My father would tell my brother and I "boys they quit making land about 5 years ago unless you take into consideration volcanos, and your not growing anything on lava for the next 10,000 years." It's a kick in the teabag to find that slice of country which you desire to hunt, live on, and raise a family only then to realize the financial aspect is overwhelming and sometimes not feasible. If a person wants something bad enough they can find ways to get it, but I can tell you from my experience that I missed a lot of ball games, recitals, birthday parties and have completely worn my body out for 40 some years making the payments. It's hard for me to say that it has been worth missing all those things, but I got a damn good wife ( with a J O B never hurts) my kids love me and I have something that's ours, and will be left in an estate that can never be divided, mortgaged, or sold as long Murphy blood descendants are still alive. It's not easy but with one last quote from my father "it's like wiping your butt with a piece of broken glass, you can do it but you better be careful and know what you're doing". Rest in peace John Murphy.

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