Price of land just keeps going

[sweeney]

Last land auction i went to with around 6 digits of cash i realized that i am not wealthy enough and do not factor into the wealthy land buyer club, especially when there is gravel on the land and road contracts in the area.

 

[Bfishn]

I’m just going to try finding a fat chick with land in the family.

 

[eyexer]

A

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.

Im sure there’s a substantial break with ag land

 

[KDM]

Such fatalistic attitudes about buying land for hunting. Here's a suggestion. Buy some pasture land where you like to hunt. It costs about a grand an acre on average give'er take a couple hundred. It doesn't take hundreds of acres to make a good hunting spot. Spend some money on fence, trees, and bushes. Then put in some sweat equity planting the trees/bushes and 5-10 years of patience along with some TLC/maintenance and most folks can have a darn good piece of wildlife habitat for them and their children to enjoy. It's amazing what land will do when it isn't pummeled into oblivion by cattle every year. Sadly, most folks want turn key operations with ready made returns and are unwilling to put in the work or wait.

 

[NDSportsman]

Such fatalistic attitudes about buying land for hunting. Here's a suggestion. Buy some pasture land where you like to hunt. It costs about a grand an acre on average give'er take a couple hundred. It doesn't take hundreds of acres to make a good hunting spot. Spend some money on fence, trees, and bushes. Then put in some sweat equity planting the trees/bushes and 5-10 years of patience along with some TLC/maintenance and most folks can have a darn good piece of wildlife habitat for them and their children to enjoy. It's amazing what land will do when it isn't pummeled into oblivion by cattle every year. Sadly, most folks want turn key operations with ready made returns and are unwilling to put in the work or wait.

Even pasture land is thru the roof now days. The problem is everyone wants their own piece of heaven and it drives the prices up. Use to be able to get shit land for $500-$600 an acre now that same land is going for $2000-3000 per acre. It's crazy!

 

[1lessdog]

There is over 1700 acres South of Oakes coming up on the auction block in Nov. I think it will be very expensive. I believe there is 4 center pivots on 4 of the quarters.

 

[wslayer]

^^^^ @KDM this is sound advice. A good water source and some development can go a long way. I wish I could have hung on to our land ( lot of $$$), but 9 other siblings/ relatives wanted to let it go. Saddens me every time I go by it. Know the owners so if really wanted to hunt ( grouse/deer) they would let me in.

 

[Davey Crockett]

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.

A

Im sure there’s a substantial break with ag land

If the property is passed on to kids rather than sold your kids get a step-up in basis. But then you either have to buy long term care insurance or take a gamble.

A lot or a house in town is no different as far as I know,


Stepped-up basis means if you bought land for $400,000 several years ago (so $400,000 is your basis) and it's worth $2 million when you die, the basis when your kids get it is reset to the value on the date of your death — so in the kids' hands, their basis is now $2 million.

 

[KDM]

Even pasture land is thru the roof now days. The problem is everyone wants their own piece of heaven and it drives the prices up. Use to be able to get shit land for $500-$600 an acre now that same land is going for $2000-3000 per acre. It's crazy!

Some of it is very expensive I'll give you that. However, I know a man that bought slough ground for about 300 bucks an acre for the dry ground. Under 30k for the whole 80 I think it was. Planted trees on just about every part where a tree would grow. Willows, Cottonwoods, Pines, Boxelders, and any other tree he could find that would grow there. He put bushes where trees wouldn't grow and put a fence around the entire thing. He used the slough to water the trees and bushes and after 8 years or so he has a wildlife mecca that even the rich television hunters would drool over. He worked his azz off planting stuff and making sure they lived and thrived. Now he does nothing to it but hunt it and enjoy his investment and effort. It can be done. It just needs to be a priority that comes before the new truck, or boat, or fishing trips, or vacation that sucks the money pool dry. This land was a long term investment in his eyes to be passed on to his children much like any other investment.

 

[NDSportsman]

Some of it is very expensive I'll give you that. However, I know a man that bought slough ground for about 300 bucks an acre for the dry ground. Under 30k for the whole 80 I think it was. Planted trees on just about every part where a tree would grow. Willows, Cottonwoods, Pines, Boxelders, and any other tree he could find that would grow there. He put bushes where trees wouldn't grow and put a fence around the entire thing. He used the slough to water the trees and bushes and after 8 years or so he has a wildlife mecca that even the rich television hunters would drool over. He worked his azz off planting stuff and making sure they lived and thrived. Now he does nothing to it but hunt it and enjoy his investment and effort. It can be done. It just needs to be a priority that comes before the new truck, or boat, or fishing trips, or vacation that sucks the money pool dry. This land was a long term investment in his eyes to be passed on to his children much like any other investment.

Yeah I can see swamp land going for that, would be ok if there's enough dry ground with it I suppose

 

[Tymurrey]

Some of it is very expensive I'll give you that. However, I know a man that bought slough ground for about 300 bucks an acre for the dry ground. Under 30k for the whole 80 I think it was. Planted trees on just about every part where a tree would grow. Willows, Cottonwoods, Pines, Boxelders, and any other tree he could find that would grow there. He put bushes where trees wouldn't grow and put a fence around the entire thing. He used the slough to water the trees and bushes and after 8 years or so he has a wildlife mecca that even the rich television hunters would drool over. He worked his azz off planting stuff and making sure they lived and thrived. Now he does nothing to it but hunt it and enjoy his investment and effort. It can be done. It just needs to be a priority that comes before the new truck, or boat, or fishing trips, or vacation that sucks the money pool dry. This land was a long term investment in his eyes to be passed on to his children much like any other investment.

The sweat equity and future vision is where people fail a lot I feel and you won't find land that pays for itself with rent or everyone would be buying it. I always struggled with the high down payment they wanted to purchase land as a kid out of college i didn't have the down payment or the equity to put down. I got lucky in that my dad and grandpa worked hard for the little chunk of land I got but luckily i'm well enough off that i can put some money into making it better. I don't have a good way to water trees but i'm taking advantage of any of the cost share programs for trees i can every year for improving it. The time and effort and money that go into getting trees to grow and thrive is a lot and sacrifices have to be made every year for that. I probably lose 30-40% of the first year plantings and then it goes down every year after that except for the hardwoods and apples it seems. my replacement trees this year alone are 400-500 trees.

Another thing i recommend is to not be scared to let people know you are interested in what they have, if they ever do decide to sell you want to make sure you have first chance. Me and my family have gotten burned on that before. I don't take it as disrespect when i get people that want to buy my land from me.

 

[FightingSioux]

Such fatalistic attitudes about buying land for hunting. Here's a suggestion. Buy some pasture land where you like to hunt. It costs about a grand an acre on average give'er take a couple hundred. It doesn't take hundreds of acres to make a good hunting spot. Spend some money on fence, trees, and bushes. Then put in some sweat equity planting the trees/bushes and 5-10 years of patience along with some TLC/maintenance and most folks can have a darn good piece of wildlife habitat for them and their children to enjoy. It's amazing what land will do when it isn't pummeled into oblivion by cattle every year. Sadly, most folks want turn key operations with ready made returns and are unwilling to put in the work or wait.

Please let me know when you find some pasture land for sale for $1000 an acre ! I’ll pay a finders fee!

 

[FightingSioux]

If you don’t think land selling for way above what you can make off the land and not breaking even is not a huge problem then I got something to sell you…….!

The more land that gets sold for way over the actual value will just make land ownership even more out of reach for the common man. Land ownership by exclusively the rich is what spurred the migration to the US and from the eastern US to the homesteaders moving west. The rich owning all the land will not end well for the US and we must all be concerned of the long term implications. This is more than just about hunting access.

This isn’t just a problem in ND. Land all over the west is selling for ridiculous prices. If you think pasture land in ND is not productive can you imagine paying 5-10k for the sage brush land where grass barely grows? The much millionaires don’t care how much it costs or how much money the land will make. Access that was once open to the public for decades is being closed off to allow for the guides and their clients who are paying over 5 grand to shoot a deer or elk. Hunting cannot become a rich man sport otherwise the sport will die……

 

[Lycanthrope]

The sweat equity and future vision is where people fail a lot I feel and you won't find land that pays for itself with rent or everyone would be buying it. I always struggled with the high down payment they wanted to purchase land as a kid out of college i didn't have the down payment or the equity to put down. I got lucky in that my dad and grandpa worked hard for the little chunk of land I got but luckily i'm well enough off that i can put some money into making it better. I don't have a good way to water trees but i'm taking advantage of any of the cost share programs for trees i can every year for improving it. The time and effort and money that go into getting trees to grow and thrive is a lot and sacrifices have to be made every year for that. I probably lose 30-40% of the first year plantings and then it goes down every year after that except for the hardwoods and apples it seems. my replacement trees this year alone are 400-500 trees.

Another thing i recommend is to not be scared to let people know you are interested in what they have, if they ever do decide to sell you want to make sure you have first chance. Me and my family have gotten burned on that before. I don't take it as disrespect when i get people that want to buy my land from me.

soil conservation in Burleigh will plant trees and outdoor heritage plays 75%, pretty good deal...

 

[Tymurrey]

soil conservation in Burleigh will plant trees and outdoor heritage plays 75%, pretty good deal...

I've used the outdoor heritage fund for a few different plantings and some of the other cost share programs as well. The replant, herbicide, and other maintenance costs add up to more than the original plantings. I originally started planting trees just sticking them in the ground without fabric or care and those trees are 5-7 years behind my fabric trees in growth. The grow tube seem to make a big difference for fruit and hardwood trees and thats another added cost.

As for the original topic i was told a few years ago buy our renter that it's not really the farmers most time jacking up the land prices. It's people with to much money that are looking to invest or spend it that are raising the prices up so high. I also can't believe how high rent has gotten. I know we could charge more for rent on our pasture and crop but i would much rather have good renters than make some extra cash.

 

[tikkalover]

Heard this morning that 900 acres just east of Minot sold for $4300 an acre . That’s 3.87 million for you guys that can’t do math

 

[3Roosters]

North Dakota cropland values up double digits again in 2023​

The largest increase in land values occurred in the east-central and southern Red River Valley regions with both increasing over 20%.




(Click an image below to view a high-resolution image that can be downloaded)

• Estimated Average Cropland Per Acre Values (NDSU photo)
• Estimated Average Cropland Cash Rent (NDSU photo)

Despite high production costs to start 2022, net farm incomes remained high helping facilitate a sharp rise in land prices for 2023, says Bryon Parman, North Dakota State University (NDSU) Extension agricultural finance specialist.
The statewide average land price increase from 2022 to 2023 was 13.46%, which is higher than last year’s increase of 10.9%. Rents were also up considerably, rising 6.82% statewide, marking the largest increase in 10 years.
The data for the rental rate and land value changes comes from the North Dakota Department of Trust Lands County Rents and Prices Annual Survey found online at https://www.land.nd.gov/resources/north-dakota-county-rents-prices-annual-survey. The data is then combined into NDSU Extension regions using a weighted average based on the number of county acres.

 

[Lycanthrope]

I've used the outdoor heritage fund for a few different plantings and some of the other cost share programs as well. The replant, herbicide, and other maintenance costs add up to more than the original plantings. I originally started planting trees just sticking them in the ground without fabric or care and those trees are 5-7 years behind my fabric trees in growth. The grow tube seem to make a big difference for fruit and hardwood trees and thats another added cost.

As for the original topic i was told a few years ago buy our renter that it's not really the farmers most time jacking up the land prices. It's people with to much money that are looking to invest or spend it that are raising the prices up so high. I also can't believe how high rent has gotten. I know we could charge more for rent on our pasture and crop but i would much rather have good renters than make some extra cash.

I dont know where your land is, but my land was significantly deficient in N and P. Started putting down chemical nutrients this summer and many of my trees really took off, before that some were fairly stagnant for a few years. Its a good idea to have your soil tested if you havent already.

 

[eyexer]

If the property is passed on to kids rather than sold your kids get a step-up in basis. But then you either have to buy long term care insurance or take a gamble.

A lot or a house in town is no different as far as I know,


Stepped-up basis means if you bought land for $400,000 several years ago (so $400,000 is your basis) and it's worth $2 million when you die, the basis when your kids get it is reset to the value on the date of your death — so in the kids' hands, their basis is now $2 million.

Doesn’t that just mean when they sell it their taxes would only be on the money over two million

 

[riverview]

Doesn’t that just mean when they sell it their taxes would only be on the money over two million

yes