Looking for land?

[Chance Love]

Thanks to all for the kind words. I believe I have responded to all PM's.

[60 Deluxe]

I have to disagree. Look at some charts and trends for real estate in general. Prices do come down when the market gets overheated. This market is overheated. People are trying to cheerlead the thing to keep the rally alive, but the smart money is parked for now. The way the economy is trending, there will be lots of folks trying to unload speculative investments in the near future.

[dgilbert]

I hear different but I’m not a realtor.

[txtrophy85]

I have to disagree. Look at some charts and trends for real estate in general. Prices do come down when the market gets overheated. This market is overheated. People are trying to cheerlead the thing to keep the rally alive, but the smart money is parked for now. The way the economy is trending, there will be lots of folks trying to unload speculative investments in the near future.

I closed a ranch yesterday, closing one on Monday and have two offers out from Buyers…both are over $2mm each.

You can look at all the charts you want but the professionals in real estate are keeping pulse on the market. Listen to them about whats going on in the market currently…not historical charts. My wife is in the residential end ( I’m in land ) and has 12 deals in title currently.

Things can turn around and go south for sure, but right now we are in a “normal” market In terms of price negotiations and time on market.

[60 Deluxe]

I closed a ranch yesterday, closing one on Monday and have two offers out from Buyers…both are over $2mm each.

You can look at all the charts you want but the professionals in real estate are keeping pulse on the market. Listen to them about whats going on in the market currently…not historical charts. My wife is in the residential end ( I’m in land ) and has 12 deals in title currently.

Things can turn around and go south for sure, but right now we are in a “normal” market In terms of price negotiations and time on market.

I'm curious how many acres and the level of improvements that those $2m dollar deals are. Hill country prices; that could be for sixty to seventy acres and no improvements. Where I live you could get a nice house, barn, roads, well, and 500 acres for $2M. I'm pretty confident that we aren't going to see much of a price change here. I have no confidence at all that the hill country prices can hold. I've been watching a place with 300+ acres, a decent twenty-five year old home, a nice barn, a hanger, and within ten miles of town. It is listed at a little over $2M. When it came on the market, I ran the comps that I was aware of and decided that they need to knock off $800,000 if they want it to sell. Interest rates have been raised probably four or five times since that one was listed. Time will tell.

[txtrophy85]

Time will tell.

When I started selling ranches in 2008 a person could buy the best of the best of the best in Hays or Blanco county for $6500/acre ( no live water ) and a real good place for $5500/acre. $4500 would buy you a pretty decent place still.

Now that same land is trading for $15-$30k/acre. Those are for tracts 100 acres-500 acres.

I don’t know what people are thinking they are gonna drop back down to?

[60 Deluxe]

Time will tell.

When I started selling ranches in 2008 a person could buy the best of the best of the best in Hays or Blanco county for $6500/acre ( no live water ) and a real good place for $5500/acre. $4500 would buy you a pretty decent place still.

Now that same land is trading for $15-$30k/acre. Those are for tracts 100 acres-500 acres.

I don’t know what people are thinking they are gonna drop back down to?

You know as well as I do that the great California migration has thrown a wrench into the works. I'm looking for a recession. If it happens soon, that may lock those folks down where they can't sell their two bedroom cottages for a million plus and then move to Texas and spend double what a Texan would pay for a place.

[dfwgunner13]

Two questions

What is farmland outside of Amarillo bringing an acre?

What is hunt/play land bringing within 3 hours of Ft Worth bringing an acre?

I know these are very general questions Just trying to get a vague idea of what i want to look for

[txtrophy85]

You know as well as I do that the great California migration has thrown a wrench into the works. I'm looking for a recession. If it happens soon, that may lock those folks down where they can't sell their two bedroom cottages for a million plus and then move to Texas and spend double what a Texan would pay for a place.

I’ve sold more ranches to people from Louisiana than I have from California.

That mentality is true of urban or suburban locales where people are relocating for a job, but I didn’t see many California people coming here buying rural land. Did I have some, sure, mostly folks looking to escape the People’s Republic of California’s socialist regime, but nothing like what people made it seem like.

I sold more to homegrown urbanites and suburbanites from Houston, Austin or Dallas who “felt” that they needed to have a place in the country in case things got worse during the Covid era.

IMO, low interest rates brought out more Buyers than any perceived exodus from California ever did

[Txbowslaughter]

Man I’d love to get land.. someday

[Chance Love]

Two questions

What is farmland outside of Amarillo bringing an acre?

What is hunt/play land bringing within 3 hours of Ft Worth bringing an acre?

I know these are very general questions Just trying to get a vague idea of what i want to look for

I guess I missed this post the other day. I don't have a clue about row crop dirt near Amarillo so I'm no help there.

Most folks looking for hunting land would head west of Fort Worth, and I'd say around $2800/acre on the low end for bigger places, then just go up from there. Go up quickly from that number if looking for smaller type places.

Vague enough?

[tpack]

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