Texas land prices

[Burnadell]

I am not trying to start an argument here. This post is purely for educational/informative purposes only.

I have regularly seen posts that some say that real estate prices will only go up, that it is never going to go down; land is the best investment, etc. I am not trying to argue that point, but I do shake my head with the naivety of those statements. Some here were either not around in the 80's or were two young to have been aware. As former banks in those days, I remember all too well that some people bought at the top of the market, both land and houses.

Check out this info:

https://www.recenter.tamu.edu/data/rural-land/#!/state/Texas

Average land prices took 18 years to recoup what the sold for in 1985. Sure, there are/were exceptions, but it happens!

Again, I am not trying to discourage anybody from buying land; just be aware that it is not as guaranteed (in the short term) as some think. Long term...different story.

[Big Lee]

No reason to share logical, factual information!! Thank you for sharing!

[cantexduck]

The housing/land market will go back down. I don’t think the commodities that are used can sustain the pace.

[RiverRat1]

Same can be said for the stock market.

[Hills of Texas]

I bought 20 acres out in Big Bend. Middle of nowhere, an hour from pavement, for 75 hundred a few years ago. A neighboring property sold last week for 30k! Land is selling at a premium price pretty much anywhere.

[dclifton]

Have a neigbor that bought around 84 or 85. Came in from Middle east oilfield with money to burn. He talks about it all the time. Think he paid almost 2K an acre. And in 86 prices dropped and took till late 90s for it to get back to the same prices. I tell people about this all the time and they think im crazy....

[Mule Skinner]

I bought 20 acres out in Big Bend. Middle of nowhere, an hour from pavement, for 75 hundred a few years ago. A neighboring property sold last week for 30k! Land is selling at a premium price pretty much anywhere.

Are the buyers from California?

[Hills of Texas]

Are the buyers from California?

I have no idea where they are from. Used to be places for sell all over the place out there. Not so much anymore.

[Rubi513]

I am not trying to start an argument here. This post is purely for educational/informative purposes only.

I have regularly seen posts that some say that real estate prices will only go up, that it is never going to go down; land is the best investment, etc. I am not trying to argue that point, but I do shake my head with the naivety of those statements. Some here were either not around in the 80's or were two young to have been aware. As former banks in those days, I remember all too well that some people bought at the top of the market, both land and houses.

Check out this info:

https://www.recenter.tamu.edu/data/rural-land/#!/state/Texas

Average land prices took 18 years to recoup what the sold for in 1985. Sure, there are/were exceptions, but it happens!

Again, I am not trying to discourage anybody from buying land; just be aware that it is not as guaranteed (in the short term) as some think. Long term...different story.

*too.

Property in Centerville was averaging 5k an acre 3 years ago. It’s over 10k now.
Ridiculous...

[El Paisano]

Real estate folks told me that people are looking to get out of the cities for a number of reasons, but that it took a big jump when the riots started last year.

[M16]

I am not trying to start an argument here. This post is purely for educational/informative purposes only.

I have regularly seen posts that some say that real estate prices will only go up, that it is never going to go down; land is the best investment, etc. I am not trying to argue that point, but I do shake my head with the naivety of those statements. Some here were either not around in the 80's or were two young to have been aware. As former banks in those days, I remember all too well that some people bought at the top of the market, both land and houses.

Check out this info:

https://www.recenter.tamu.edu/data/rural-land/#!/state/Texas

Average land prices took 18 years to recoup what the sold for in 1985. Sure, there are/were exceptions, but it happens!

Again, I am not trying to discourage anybody from buying land; just be aware that it is not as guaranteed (in the short term) as some think. Long term...different story.

Just remember grasshopper that tax law changes had a big effect on those prices. When you could no longer deduct the interest expense real estate crashed. As long as people keep moving here real estate will be a great investment.

[Parramore]

We just bough a place for $4200 an acre for 50 acres in the sweet spot. That was tops of our budget and one of the only places we found in that area for miles. Its been 6 months since we had one that was even close to reasonable on price.

[tps7742]

As mentioned in Burnadell’s post I do remember exactly as you stated. I purchased our first home at 14% in 1983 and after the mortgage bust it took us 13 years to get the home price back up to sale it. We did refinance 3 times during this period. I do know some older guys I worked with that were buying homes 5 at time at auctions in the Houston area. Granted these were bought in the older neighborhoods. Hopefully it never gets like that again.

[Ag 89]

Rural property inventories are low right now. Good if you are selling, more costly if buying due to more competition for less land. Took us a year to find the right place at the right price.

[doghouse]

Land is a long term investment most of the time. A few advantages are the write offs if you run livestock. Depreciation on wells, fences. vehicles etc. Another advantage is you can't just sale it over night and spend the money on boats, cars, vacations, etc. JMO In other words it's harder to get to your money.