I have traveled all around this great nation of ours over the last 2 years and every where I go rural real estate professionals tell me how much land has appreciated in their area in the last 5 years. My question to you is: how long will it last? In my home state of Texas the average price per acre for rural land in 2003 was $1,097.00 compared to last year in 2006 the average price per acre for rural land was $1,825.00. In fact, last year alone saw an annual increase of 23% for rural land in Texas according to Dr. Charles Gilliland of Texas A&M’s Real Estate Center. It is the same story every where I go, from Washington State to South Carolina. While other real estate markets have seen a drastic pull back over the last year, rural real estate just keeps trucking along.
We here at LandsofAmerica.com would love to hear the opinions of the professionals that work in rural real estate nation wide. What is your outlook for the rural real estate market in your area? Do you see a crash coming, a soft landing or is this just the start of a major run up? We would like to hear about the rural market in your area and your outlook on what you think is going to occur.
Click on Comments below to put in your 2 cents.
3 responses so far ↓
Tory B. Virdell // Apr 18, 2007 at 7:43 pm
This interesting subject can cause blissful exhilaration or subtle nausea. I certainly prefer the blissful exhilaration but I am also not a complete idiot (most of the time). As we all know “what goes up must come down” but; how far down? Or; to what plain will this rest on? Is the Million dollar question. In my case as well as most of the other Hill Country counties, there will be a nice level plain that this market will decide to rest. The studies can’t be all wrong and the droves of people moving into our area and new businesses are quite the legitimizing sign. I am also a city of Llano Councilman/Alderman and in this service it is our/my job to prepare for this population growth and we are doing this in many different areas of infrastructure. If we can win out over the kooks that would prefer us to not be the best we can be this market will continue on its steady course. I also see that this market has established itself and will stay solid. This Boom has brought to us a new standard of value and I believe that most people have caught on or to my benefit “sold out”. To sum this up, there is no more $1500-$2000 per acre Llano County ranch properties left and this new standard has raised the bar for now and, hopefully, forever. Hey guys, the glass is much more than half-full and I am hoping for an eventual need for some “cup runneth over” action!(Not that we aren’t already seeing that)
Carolyn // Apr 20, 2007 at 5:06 pm
I have to agree with Llano Councilman/Alderman. Rural property value has definitely established itself as a viable ‘product’ - after all, “They ain’t making no more land.”
As a real estate broker I too see people becoming excited/interested in investing in rural property since most urban properties have become quite pricey.
Rural property here in Tangipahoa Parish went from Pre-Katrina price $3000. per acre to the current $20,000. per acre. Some rural properties went incredibly higher. The only place I know of where you can get property for $300. per acre is in Colorado- YES! Colorado!
www.sanluisvalleyrealestate.com
check it out
Patsy // Jun 1, 2007 at 4:06 pm
I am a real turkey when it comes to land. I just want to gobble up everything I see. If I ever won the lottery I’d spend all the money going all over this great USA and buy some in every state. No matter where you go you can find some beautiful parcels. Right now I am fixated on SE Tennessee. I am moving my entire family (mother, 2 sisters, a brother and most of the children) there. We are leaving Florida (my husband is a cracker) but willing to go. It has just got to the point we are all stacked on top of each other here. I’ve been in the real estate business in one form or the other for 30 years. And what I am seeing is thebaby boomers are wanting the feel or rural living, but with the convience of some ammenties. I have recently read a book regarding feng-shui that explains how we move into different quarants of our lives every twenty years. We are now in the 5th year of the present quadrant of ‘ simplfing.’ We just moved out of the “money making” one. Being the last 20 years of the technology era that brought in the big bucks. At any rate if you would like to visit my web site GO TO
http://www.land-bandit.com Thanks Patsy
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