So..what's an acre go for in your area?

[kwolfe]

VaRandy,
I moved from Reston VA, about three years ago. For Potomac, that sounds like a good deal. That area got really expensive. Here in south central PA I paid about $70k for 2 acrese at the end of a cul de sac. I would like to have at least 8 more. Just can't afford it right now.

 

[Haneyrm]

My place in Tampa, Florida ran $249,000 for 1/2 an acre in 2004. It was ridiculously overpriced then and is even worse today. Our place in middle Tennessee was $5500/acre. Much more reasonable and immensely nicer than Tampa. I never plan to go back to Tampa.

Mike

 

[MLinOleMiss]

My 44 acres in South Central Mississippi was just appraised at 2200 an acre, with two wells and 1170 feet of river frontage. My neighbor (we are separated by a 40) sold his 104 acres for 1,040,000 to investors that plan to build a bio-diesel plant and an ethanol plant on the property.
Prior to buying this land, I was in Gulfport MS and our .23 acre lot appraised at 19,000 and we built our house for 97,000 for a total of 116,900 in December of 01. Sold it in December of 05 for 159,000 in two days and buyer met all of our terms. My brother had a house 4/10 of a mile from me that he paid 106,000 for in 2000 and did not take care of it like he should have, sold it to his roommate for 125,000 and moved inland in early 2006. Roommate put down new ceramic that my brother bought and repainted with paint that my brother bought and had a new garage door installed that the insurance company paid for due to Katrina and flipped the house in 3 weeks for 175,000.

 

[Nissan197]

Around here an 1/8th of an acre in a housing development is going for around 60K. If out in the rural area it is going 12K+ for an acre. I paid 8,300 an acre two years ago and got 10. Now there is 14 acres next to me that they wanted 119K two years ago and now want 210K. 10 acres on the other side they are asking 180K. It is amazing what people are willing to pay. I sure would like that 14 acres also, but would not give over 100K for it.

 

[Slamfire]

I once had a real estate agent tell me "..land is always a good investment, God isn't making anymore of it."

Have him tell that one to a Hawiian!
11 years ago, I sold 8 acres, 15 miles from the State Capitol of PA for $45K, bought 32 acres here 25 miles from the county seat for the same $45K. Now the Dollywood crowd has discovered this area, and a 5 acre parcel sold for $56K last year. I guess I could get about 350K for my place now, but I'm too old to move. No heirs left, maybe I'll take out a $250K reversable mortgage and travel awhile.

 

[Tom_H]

Our area is zoned AR5 (Agricultural/Residential, 5 acres minimum parcel size). When we bought in Jan. '89, our 5 acres Cost $61,500. More premium 5 acre parcels at the time were $90k. In '87 similar parcels wree only $15k. At the peak of the market in '05, 5 acre parcels were at $600k to $800k, but have dropped back to $475k to $600k. Halfway between here and the metro area, 2 acre parcels are the same or a bit more.

 

[curly]

The lot we had in North Atlanta was about 80K and it was maybe 3/4 of an acre.

Here in Union SC, you can easily get 40 acres for that.

 

[curly]

...maybe I'll take out a $250K reversable mortgage and travel awhile.

Buy some great tractors and implements with that rev mortgage

 

[MrJimi]

40K for a wooded acre near town, like walking distance with NO improvements at all, wooded over grown lot..

 

[Mith]

7 acres of land (hay field) came on the market near us recently, approx $28,000 per acre.

A 2 bedroom bungalow on 1 acre of rough ground sold recently for just short of $1million. 5 bedroom house on 1/4 acre sold for a little short of $1.8million. Prices sure have gone up!