Posted by jimva on January 03, 2012 at 00:28:20 from (96.240.184.227):
In Reply to: Land purchase posted by M Nut on January 02, 2012 at 13:51:23:
You can bet if its the talk of the town, someone else is setting at home with a pencil and calculator racking their brain to see if they should buy it. Around here, A peice of land like that for that amount, no one would know about it until after the closing and the deal was signed, sealed and delivered.
The last time land was bought for $850 and acre around here was back in 1986 when dad and i bought the neighboring farm. It was only becasue the old timer that owned it was like a second father to my dad, as he had two other farmers offer considerably more for it after dad made the mistake of telling one of his buddies about the deal.
I had a good friend get screwed on a farm purchase back in the 1998 when he went around bragging that he could buy such and such place for 3000 an acre. No one saw the developer/realtor setting in the booth behind us, until he abruptly got up and left the diner. My friend didnt get to buy that land and now theres 180 houses planted on that farm.
My advice if you can afford it, buy it and live on it. There not making anymore land and its not getting any cheaper.
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