Welcome to ASFMRA’s blog on Land Values.
Please share your thoughts and ideas on land values. For information on education offerings on Land Values, visit www.asfmra.org.
Posted by: asfmra | September 18, 2007
Land Values
Posted in Appraisal, Appraiser, Education, Farm Manager, General Discussions, Land Values, Membership
I worder if anyone else is noticing a softness in the land market. In Southeast Alabama, there are much fewer sales in 2007 than what occurred in 2006 and 2005. Also I have noticed one 86 acre which recently sold for $2,733 per acre (normal realtor marketing) and a adjacent 68 acre property sold with 1031 tax benefit sold for $4,779 per acre June 2006. The purhcasers of the 68 land tract were active land traders in area and thought they would re-sale for higher prices. I would like to see several sales -resales in this market but actilvity is very slow.
By: Jerry Dell on October 31, 2007
at 11:18 pm
The same sort of thing seems to be happening in South Carolina. It is factual that land sales have fallen from their unprecedented frequencies in 2004-2006. Some of the purchasers during this period who paid what seemed to be very high prices (and were generally from out of the areas) have placed properties back on the market. It will be interesting to see when and if they sell and for how much. I know of no resales yet below original price, but it is usually the mortgage banker who has to do the reselling when equities are gone. At the same time there are brokers who tell me that their biggest problem is finding land to list. I think the question at this point is whether this is a temporary glitch.
By: monettadick on November 23, 2007
at 2:16 pm
Investment in land is dependent on the surplus with indivduals and corporates- In India same phenomenon exists – In Bangalore I bought a landed property at Rs. 450/- per square foot in may 2004 – By November 2006- it had risen to Rs. 2000/- per square foot- In 2007 there was absolkute slow down – noenquiries for purchase –
Same is the case with agricultural estates- there are no investors
By: Satish Chandra C.S. on June 9, 2008
at 2:34 am