Will land prices fall?

[Greenheadless]

2008 was not 100 years ago

Everyone was bailed out in 2008. No one really suffered.

[txtrophy85]

I understand all of that. We will know within 3 or 4 years though.

I'm 90+% sure prices won't be going up in the next year. As mentioned several times properties are just not selling anymore. May only fall slightly but could fall a lot over time.

What properties are not selling? My wife has over a dozen homes in the title company. I’ve got two ranches that are set to close by months end. Two more I was set to look at just went under contract. 500 acres just went under contract up the road from me in Kerr county, and so did 500 acres in Mason last week. Ranch land is still moving, as are homes in the San Antonio area.

I will agree that prices will likely stabilize/plateau for the next 12-24 months and not keep climbing at a breakneck pace….that trend is already behind us.

The places that are sitting or continuing to sit more than likely have above market price tags attached to them. As with anything else, some places that are reasonably priced will sit until the right buyer comes along, sometimes it takes 6 months sometimes a year and a half. 12 months market time was usually what it took to sell a ranch property, not 30 days like we had gotten accustomed to in the last couple years. What will sit the longest are highly improved properties and niche properties (wineries/vineyards, horse properties, etc.)

Matter of fact, last week I had an offer in on a 150 acre place just south of San Antonio, lost out on it. Place had 9 offers on it. None above asking but a few pretty dang close to asking.

[txhoghunter2]

I understand all of that. We will know within 3 or 4 years though.

I'm 90+% sure prices won't be going up in the next year. As mentioned several times properties are just not selling anymore. May only fall slightly but could fall a lot over time.

Land is still selling in this area very well. Not much inventory.

[RiverRat1]

My daughter has a small list around Corpus. She's been watching for 5-7 months. Two she likes don't seem to be listed too high and have not sold in 3 months or so.

I don't have access to what things have sold for so don't really know if prices are falling. But things don't seem crazy so assume they are somewhat.

[mjhaverkamp]

I do not see recreational farm / ranch land dropping much at all, 50 to 200 acres tracts are very desirable to many folks, there are a lot of people out there who have money.

[Fmjag64]

I do not see recreational farm / ranch land dropping much at all, 50 to 200 acres tracts are very desirable to many folks, there are a lot of people out there who have money.

x2

[kingranch]

I don’t think they’ll “drop” as a whole. I think some of the “outrageous” pricing like $42,500.00 an acre for rural property will level back out to “actual values”. But I think people with money who are pulling it out of other markets will invest in land now which will hold the market at existing levels. Unless we have an all out “crash” which wouldn’t surprise me with the morons we have “steering” the country these days!


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If i could buy at 42k an acre around here I would scoop it all up.
Everything is now 100k plus an acre.

Land wont drop.. however you can expect to offer and them accept 10% less at a minimum. Most houses now are going under contract at 50-75k under initial ask

[kingranch]

Idk how people are affording 500k houses with 7% interest rate. I’m sure rates on land are even higher. I think land will come down some but agree nothing close to what it was 4-5 years ago.

simple... cash. 500k is nothing when you just sold your other place for 300% profit.... and most ppl around here are still cash heavy

[BrianL]

I think there is still a mindset of "Texas" land/housing being cheap compared to other states and many people moving into the state, or people moving from urban to rural. Gentrification is happening in Texas now and IMO will continue for several years, if not decades.

[SmTx]

Not land but people still have unrealistic expectations for their values. lololol. Just listed.

https://www.har.com/homedetail/1036-15th-st-hempstead-tx-77445/16278126

[JBJTX81]

simple... cash. 500k is nothing when you just sold your other place for 300% profit.... and most ppl around here are still cash heavy

The Feb pumped about 9 trillion into the US economy during Covid. And everyone is asking where this inflation came from! Is going to take a very long time for that cash to burn off.

[hooligan]

Idk how people are affording 500k houses with 7% interest rate. I’m sure rates on land are even higher. I think land will come down some but agree nothing close to what it was 4-5 years ago.

because 7% is still pretty cheap in the long run

last time I talked to frost it was just over 6% that I got quoted

[Eastwood]

Not land but people still have unrealistic expectations for their values. lololol. Just listed.

https://www.har.com/homedetail/1036-...77445/16278126

https://www.realtor.com/realestateandhomes-detail/391-FM-2104_Smithville_TX_78957_M90500-79790

Check this one out!

[RiverRat1]

How will we know if land prices come down?

If I watch 3 properties lower prices will you guys just say they listed too high to start with?

So how will we know?

[SmTx]

https://www.realtor.com/realestatean...7_M90500-79790
Check this one out!

2 whole acres that's a spread