Recreational Land Prices

[Dholcomb]

Hey everyone,

I know none of us have a crystal ball, but I am curious as to what direction everyone thinks we are going in regard to recreational land prices and inventory?

(particularly wooded land for deer hunting/camping/and conservation with minimal to no tillable income producing potential)

In my area of Indiana most pieces of wooded land between 15-40 acres are listed for around 10k/acre. Most of these pieces I have seen listed were bought for around 4K per acre just a couple of years ago.

Appreciate the input as I am considering taking the dive into purchasing a piece of recreational land close to home.

 

[Creedmoor]

Hey everyone,

I know none of us have a crystal ball, but I am curious as to what direction everyone thinks we are going in regard to recreational land prices and inventory?

(particularly wooded land for deer hunting/camping/and conservation with minimal to no tillable income producing potential)

In my area of Indiana most pieces of wooded land between 15-40 acres are listed for around 10k/acre. Most of these pieces I have seen listed were bought for around 4K per acre just a couple of years ago.

Appreciate the input as I am considering taking the dive into purchasing a piece of recreational land close to home.

My, brother, sons and I have been looking at maybe selling two farms that we own in Md and Indiana and buying one place in Southern Virginia, WV or Northern South Carolina.
We are looking at tillable and hunting property, Prices that we have been looking at have been 2,000 to 4,000 an acre sometimes a lot less depending on acreage.
Have you looked in Southern IN say in Lawrence Co? I'm seeing way less than 10K

 

[firecadet613]

Have you reached out to Whitetail Properties? They have a lot listed and can put you on their email list...I get a heads up as soon as they list something.

 

[Dholcomb]

I would like to stay close to home so it’ll increase our chances of use. We are near Randolph/Delaware. There does seem to be better priced properties if we venture out. However, we own property around Lake Cumberland, but we only make it down there frequent enough to care for the property and care for family cemetery. I don’t want to have another property we rarely get to.

The opportunity in other places is amazing though, especially the more south you go.

 

[Dholcomb]

Have you reached out to Whitetail Properties? They have a lot listed and can put you on their email list...I get a heads up as soon as they list something.

We have been in close contact with them.

 

[Dholcomb]

I guess my biggest concern is are the prices here to stay or not? I know no one knows for sure, but I know there is a lot of wisdom on this site that has lived through various market shifts, etc.

 

[Creedmoor]

I guess my biggest concern is are the prices here to stay or not? I know no one knows for sure, but I know there is a lot of wisdom on this site that has lived through various market shifts, etc.

When I bought in IN, 30 years ago I hired a buyer Broker. I drove grids through a few Southern IN counties looking for what I thought were abandoned property's and what property's the realtor gave me to see. I found what I eventually bought. I had a home in Anderson and I was working in Bloomington so it was easy to do everyday after work.

In my life the more the population rises in density, the higher property values rise. I would say there is no better time than now to buy.
My father would have said to buy when the rates were 2-3%

 

[66chevelle]

We have been looking for land for about a year and half now. The prices have already started to drop some. 10 acres next door to me sold for $185k back in October. A 15 acre field 2 miles south is hitting the marker at $250k this week. From what I have seen prices are down about 10-15% in the past 4-5 months. I bet with interest rates going up land will come down more. We have watched a few lower their asking prices. I am not going to pull the trigger till I find exactly what I want or a heck of a deal. I bet if you hold off a few more months you will see another price drop.

 

[Dholcomb]

We have been looking for land for about a year and half now. The prices have already started to drop some. 10 acres next door to me sold for $185k back in October. A 15 acre field 2 miles south is hitting the marker at $250k this week. From what I have seen prices are down about 10-15% in the past 4-5 months. I bet with interest rates going up land will come down more. We have watched a few lower their asking prices. I am not going to pull the trigger till I find exactly what I want or a heck of a deal. I bet if you hold off a few more months you will see another price drop.

Wild times. We have found a property 5 miles from home, 20 acres, we’re 99% sure we’re going to go through with, just hard paying these prices. I also feel like I have to jump if something is even close to what we want as properties do not come up often in this area. Families hold them for generations it seems like.

 

[patience0830]

Yeah, I've got 10 acres, 1/2 wooded, 1/2 meadow I'd let go for about $1,000,000. Family ground so it's worth more to me. Probably not gonna see any takers at my price and that's ok.

 

[hickuleas]

Land prices will continue to increase because of strong demand that only gets worse as more people are scrambling to purchase. It was hard thirty years ago to find good properties and I'm sure its more difficult now. Be prepared financially to buy when land becomes available as the good ones dont last long.

 

[Titanium700]

How true is that.
It took us 3 different properties 3 different attempts to get something before we landed on what we have now.
62 acres I got for $230k 6 years ago.
Of course I live on it now but I wouldn’t sell it for twice that much.
…..maybe even 3 times.

 

[66chevelle]

Land prices will continue to increase because of strong demand that only gets worse as more people are scrambling to purchase. It was hard thirty years ago to find good properties and I'm sure its more difficult now. Be prepared financially to buy when land becomes available as the good ones dont last long.

For the most part I agree with you but with the stupid inflation on everything the least 2 years the land price will drop some. I’m not saying it will drip to what it was in 2000 or even 2015 but it will drop. It has already started and till continue. I bet we see 15-20% drop in the next year. If you find a parcel that is 100% what you want then don’t hesitate and buy it asap. My issue is I am very picky. I am also watching east Tennessee and have seen a drop in asking price in the past 6 months.

 

[66chevelle]

Yeah, I've got 10 acres, 1/2 wooded, 1/2 meadow I'd let go for about $1,000,000. Family ground so it's worth more to me. Probably not gonna see any takers at my price and that's ok.

I don’t blame you one bit. I wish I had some family land but that was sold before I was a teenager. I hope my boys keep whatever I can purchase and keep passing it down.

 

[66chevelle]

Wild times. We have found a property 5 miles from home, 20 acres, we’re 99% sure we’re going to go through with, just hard paying these prices. I also feel like I have to jump if something is even close to what we want as properties do not come up often in this area. Families hold them for generations it seems like.

Yes if it what you want and checks 99% of the boxes then buy it now.

 

[Creedmoor]

We have been looking for land for about a year and half now. The prices have already started to drop some. 10 acres next door to me sold for $185k back in October. A 15 acre field 2 miles south is hitting the marker at $250k this week. From what I have seen prices are down about 10-15% in the past 4-5 months. I bet with interest rates going up land will come down more. We have watched a few lower their asking prices. I am not going to pull the trigger till I find exactly what I want or a heck of a deal. I bet if you hold off a few more months you will see another price drop.

Sometimes I wish I had held out longer when looking for a property with more/moving water on it. I will say that then, Captiol Gains time was coming up fast.

 

[snapping turtle]

The land is not more expensive your labor (dollar) is worth much less.
2 billion a day in debt on the national tab.
rant off

 

[shibumiseeker]

Those land companies royally **** me off. Between my property here in Indiana, and Kentucky, I get 2 to 3 comeons a week offering to buy my land. Some of them come as a letter, offering me specific amount. That amount is usually some ridiculously low price. I figure they are targeting people who may be elderly, or just inherited some land, who don’t have any idea of his value. I’m not talking about 10 or 20% below market value, I’m talking a 10th of market value. If I didn’t respond to your letter last 50 times you sent me one, I’m not going to now.

As far as recreation goes, I live on my land, so by its nature it’s recreation. Even though I bought before the market got too stupid, I still scrimped and saved and worked three jobs to pay it off, there was a decade where I lived hand to mouth and did not have all the toys that my friends had. Even though I retired for the second time 10 years ago, my boss made me an offer I couldn’t refuse, so I make more money now than I ever had. I’m still buying more land though, it’s been the best investment I ever made. Not because I’m buying it to sell it, but because I know how to make money with it by managing the products from the land.

 

[Ingomike]

From what I have seen prices are down about 10-15% in the past 4-5 months.

You have seen similar properties sell for 10-15% less than properties that closed 4-5 months ago or they lowered the pie in the sky prices 10-15%?

 

[Ingomike]

I bet we see 15-20% drop in the next year.