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Alatornio t1_ixxmcje wrote

What is your opinion on land valuations? I own 640 acres of crop land.

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Longjumping_Aerie345 t1_ixxpgho wrote

Such a broad question do you have concrete water rights? Where is the land located ? What infrastructure is present ?

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No-Taste8096 t1_ixyz0qk wrote

I know you didn't ask me but I'm going to throw my 2 cents out there. I'm an appraiser for the state of Texas certified to appraise vacant residential/commercial use all the up to developed minor industrial use (like warehouse industrial parks with the exception of the scales and utilities)

Land is it at the most ridiculous price I've ever seen and my coworkers who've been doing this for decades said the same thing. One of my jobs is to analyze sales that we've been given access to buy the buyers. And just as some examples from the last year and a half

There was an appraised price parcel of 17Ac. We had valued for 2022 at $545K roughly. It sold in the morning of july5th for $800,000 cash and then that afternoon it sold again for $1.2M.

Appraised parcel of 13Ac. We have at $130K (Less desirable location) its for sale for $1.3M and has had a $950K offer already.

Lots in subdivided neighborhoods that we had at $42K for .5 Ac sold for $92.5K for each of them.

Lots in another subdivision we're in a range of $18-22K for <.25 Ac. Those all wound up selling for $62.5K.

Don't even get me started on the amounts people have been willing to pay for some of the homes in these places. I feel bad sometimes for the people and the "deals" they're convinced they're getting

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Alatornio t1_ixzant5 wrote

Only paying 2000 an acre here...

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No-Taste8096 t1_iy01bh9 wrote

How many acres and where? You can get rates close to that here only if it's bulk rate

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Doyoufeelme101 OP t1_iy4w9xu wrote

Land is crazy as well… 3000 dollar acre land is now selling for 7000 per acre.

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