Price of land just keeps going

[Wall-eyes]

Tried 25 years ago to buy land to hunt than rent out or put into CRP. To this day I still can't compete with my pocket book. Alot of these guys are paying cash. My mom and her last brother finally sold original farm in central Minnesota some of crop land went way over 10K acre rest for hunting or retirement type people paying up to 30k an acre. farm was in family over 160 years. Nd is crazy too. Have older friend lives in Dunn county they are loaded with oil wells. I hunt up there a lot, asked if i wanted to go to good sale for badlands type land they take brief case of money to land auctions just nuts.

 

[Allen]

Yep, I have looked at buying land often over the past XX years. I'd really prefer it to be cash flow neutral, but what I've discovered is that I'd need to put 50% down to make the bank payment roughly equal to the cash rent I could get on something with hunting potential.

 

[eyexer]

To own any decent amount of land in ND you have to
1. Win the lottery
2. Inherit a fortune
3. Have of gifted to you
4. Be extremely well off financially
5. Be a farmer

 

[Lycanthrope]

Landowner near Ellendale told me just recently a quarter sold at auction for like 1.2m.... Standard farmland, nothing special about it.

 

[Allen]

Landowner near Ellendale told me just recently a quarter sold at auction for like 1.2m.... Standard farmland, nothing special about it.

Yep, saw the same on a section of land near our land recently. One farmer knowingly overpaid for it. All because he wanted that piece of land to spite another landowner in the area. Glad he had the cash to do it because I prefer him as a neighbor over the other fella.

 

[db-2]

Certain people have a lot of monies and want to convert it to land no matter the cost.
And then there are those who see the monies and want to convert their land to monies no matter the family history of that land.

The rest of us get to watch and wish. Same with housing now.

In the 1930s my great uncle lost 480 acres including homestead land to federal land bank.
My dad took over his dad's land in the 1940s and then bought his uncle's 480 acres from FLB for a little over $2,000. Sold the house on it for $900 and crop 30 acres.
The balance was quack grass for winter pasture. Had it paid for in 3 years.

My o my how times have change. Capitalism. db

 

[db-2]

In recent years farm profit were such that at the time land was cheap.
Well, they now got it to a price and their profits do not match the cost. db

 

[Lycanthrope]

Yep, saw the same on a section of land near our land recently. One farmer knowingly overpaid for it. All because he wanted that piece of land to spite another landowner in the area. Glad he had the cash to do it because I prefer him as a neighbor over the other fella.

I can kinda understand land being high near bismarck, but ellendale is in the middle of nowhere essentially. They do have pretty good dirt there tho I think...

 

[Jiffy]

Lycan was it the Hutterites that bought it?

 

[shorthairsrus]

Certain people have a lot of monies and want to convert it to land no matter the cost.
And then there are those who see the monies and want to convert their land to monies no matter the family history of that land.

The rest of us get to watch and wish. Same with housing now.

I

Spot on!!

 

[Lycanthrope]

Lycan was it the Hutterites that bought it?

I didnt ask, zimmermans were telling me about it...

 

[Jiffy]

JIm?

If it was around their old farm I guarantee it probably was.

The Colony can afford it. lol

 

[Allen]

I can kinda understand land being high near bismarck, but ellendale is in the middle of nowhere essentially. They do have pretty good dirt there tho I think...

This was decent land for the area, but that area is western Mountrail.

 

[7mmMag]

Lycan was it the Hutterites that bought it?

I would assume they bought it. They are buying everything up around the LaMoure, Edgeley, Ellendale areas. They will even buy historically wet areas and just pay to put drain tile in and then farm it. They also rip out every single tree they can. They don't post their land but they don't have any land with any cover on it for wildlife.

 

[Lycanthrope]

JIm?

If it was around their old farm I guarantee it probably was.

The Colony can afford it. lol

Yeah, sounded like close to their land, I didnt ask specifically, we were just talking about crazy land prices right now. evidently 2 quarters sold in the 700 to 800 range and one was well over a mill...

 

[Jiffy]

I would assume they bought it. They are buying everything up around the LaMoure, Edgeley, Ellendale areas. They will even buy historically wet areas and just pay to put drain tile in and then farm it. They also rip out every single tree they can. They don't post their land but they don't have any land with any cover on it for wildlife.

You are absolutely correct on all accounts.

 

[Rowdie]

Is this gonna fk up the property taxes?

 

[eyexer]

Is this gonna fk up the property taxes?

What’s ironic is these high price purchases of farm land will probably not raise farm land valuations at all at the county tax assessors office

 

[Wall-eyes]

yup 1/4 section by relatives at Falkirk mine by Underwood 1 million relative said no way

 

[LBrandt]

Just think about the gains tax people have to pay. My folks sold their last qt of land and got per acre what they paid for the whole qt when they bought it. Like my dad said "made all that hard work worthwhile" until uncle sam got his cut.