Re: What's a guy supposed to do!

Posted by FreeRanger on March 09, 2007 at 15:07:31 from (130.47.34.2):

In Reply to: What's a guy supposed to do! posted by BOBM25 on March 09, 2007 at 09:15:09:

Owning land is complex game today.

In 1996, my wife and I wanted to move out of the city to small acres. Kept looking in bigger circles out from the city but couldn't find anything "affordable" in the county. So move circle farther out into next county. Summer of 1997 stumbled across three parcel being sold by a foreiner who inherited the land many years previous. We purchased the smallest and least desirable peice of 24 acres with NO road frontage for $1,800/acre. At the time most land was going for $3,000. In 2005, I could have purchased adjoining non-buldable 20 acres for $5,000/acre but I could afford to add more loans. Today, 20 acres if you could find it cost $12,000.

We actively farm 20 of the 24 acres to keep our taxes down. Otherwise I couldn't afford the taxes on this property. This year I paid $5,000, if no farming I worry taxes would be over $10,000.

All the rich baby-boomers retiring from Chicago area are purchasing land in Southern Wisconsin. It's only a few hours drive back to their home towns and the price of land is a fraction of Chicago area land.

I don't see the price of land going down even if the price of gas continues to go up....they've got money to spend. (hopefully on horses because I'm selling horse hay! ;-)

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