Farm land Pricing

Wow. 1.5 million for a 3 acre blueberry farm, with a very modest, very very modest, house and detached garage? Sure the hot tub is value added, but....... On the negative side there is a big building with a giant pile of debris (dust, smell, noise, something un-good comes out of that building?) extremely close to the house.

Are blueberries worth that much?

It sure looks very very wet in most of those pics, do blueberries need flooded or was that just a real wet summer?

Paul
 
There's a farm not far from here for sale. 250 ac land nearly new barns 2 10 yr old robot milkers harvestore silo bunker silos new 2 story house cattle machinery enough milk quota to milk 80-90 cows asking 6 million Canadian
 
The short answer is no they aren't worth that much. Often it costs more to pick them than they are worth...
But the land is worth so much because of the investment potenial. The land is held in the Agricultural Land Reserve - zoned only for Ag, but the people believe that some day it may come out or the ALR will change, and they would rather invest there money in land in a safe, free country verses the banks.

It is good land here in the Fraser River Delta, but that also means it is close to the Ports and Industrtry and never ending demand for detached housing...imagine if you could divide that 3 acres into 50'x100' lots smaller.

If they dont grow something on the land it is taxed at a much higher rate based on the full value, so blueberries are fairly straight forward to plant and grow-still may cost them $5000+ an acre to get established though. Its hard to argue they arent growing something with the fields all looking pretty nice with drip tape etc...verses just grass fields for hay which there is limited market for here.

They dont need to be wet, but that is pretty typical of this timeof year - it rains alot October -March/April, and as Bruce said it doesnt snow...until it does like this year. We had a few weeks of feezing and snow fall, when it comes down here it does paralize the whole Metro area.

It will be interesting to see if the one for 11.9 mil will sell. Its about a mile from my parents place, same size property but we have buildings and 2 houses. Not that houses matter... a tear down 15 year old house is at around a million+ in Vancouver and suburbs.
 
So, what is the conversion rate of Canadian dollars vs. U.S. dollars??
Just curious as I would not have thought it would be that outlandish, so to speak.
 
Rounding some of the numbers off for simpliciy, one US dollar costs Canadians about $1.33 in Canadian dollars. If you were buying Canadian dollars, it would cost you about $0.75 US for a single Canadian "loonie" (our coin version of a dollar). So take a Cdn price for a chunk of land and it would cost you about 3/4 of that amount in US dollars.
 
Keep in mind those listing are in Richmond BC, a suburb of Vancouver. Vancouver area has the highest real estate prices in Canada, and probably in North America. So those prices are more likely reflecting it's development value, not it's ag value...

Rod
 
You will get a bargan at $.76 to one CDN dollar today.
Conversly we are taking the kids to Disneyland next week and it will cost me $1.31 for every dollar I spend there.

The only thing good is that I get that I get paid in USD for my cranberries... but I'm pretty sure I could grow them cheaper in Washington or Wisconsin.
 
You are correct Rod. Even 15 years ago I had trouble justifying buying property any where close to home to farm was. I live on Vancouver Island now.., and even here it is becoming a suburb of Vancouver. There are lots of people that commute 1.5 hours on a ferry to get to Vancouver. There are even more people who sit in their cars for 1.5 hours one way daily.
 

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