Re: Price of ground?

Posted by L.C.Gray on January 23, 2005 at 19:52:58 from (65.174.44.73):

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

Land here in north central Texas is on its way up. They've begun exploring the Barnett Shale formation heavily for its rich natural gas deposits. The speculators are coming in this area and buying the available land and imediately relisting it at the same price. They're just flipping it to hold the mineral rights.

They tell me that tractors and equipment have also gotten high with brisk sales as the farmers, dairymen and ranchers look for deductable items to offset the $150 to $600 per acre the oil companies are paying for the 3 year mineral leases.

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