Re: Price of ground?

Posted by jdemaris on January 23, 2005 at 13:59:36 from (209.23.30.95):

In Reply to: Price of ground? posted by Pat L on January 23, 2005 at 10:00:35:

I bought an extra 35 acres two years ago here in central New York State (Otsego County) - 1/3 tillable, the rest hilly with young hardwoods and springs all over and absolutely beautiful views - paid $400 per acre, but that was a bargain. Tax assessor put it at $1200 per acre but I protested it got it lowered to $700. I bought 8 acres in the southern Adirondacks last summer (Hamilton Co., NY) and paid $36,000. Seemed real high to me but my wife and I had been searching in that area for a long time and prices just kept going up. We've already been offered $50,000 - which does us no good since we don't want to sell it. I've also got 50 acres of rural woods and wetlands on the Tug Hill Plateau in Jefferson Co. Northen New York. Paid $10,000 for it five years ago, i.e. $200 per acre.
I maintain a local website for a real estate company so I get to see the price trends. Up to a few years ago, in this area of Otsego County, raw unimproved land with some decent views and maybe a creek or pond, in large parcels was going for $700 per acre. In small parcels (under 5 acres, maybe $1000 per acre). Things seem to at least doubled lately. We've lost most of our dairy farms, but at least many are NOT being subdivided. Some are become horse farms, or gentleman farms, and also the Amish are moving in from the state of Maryland.

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