Texas land prices

[Sharecropper]

But...people keep make-n more people.

Supply and demand . .

[Texas Grown]

Supply and demand . .

Yep!...I mean, yes sir-ree!

[Etxbuckman]

Man I'd prolly have to tell a Californian to keep walking. Selling out Texas to foreigners is just wrong. If y'all are doing that them you need to just quit complaining about property taxes and the changing politics here because you are the ones creating the problem.

Sent from my SM-G892A using Tapatalk

I wonder if Registered Democrat is a lawful reason to refuse a housing contract?

[jmeghunts]

Man I'd prolly have to tell a Californian to keep walking. Selling out Texas to foreigners is just wrong. If y'all are doing that them you need to just quit complaining about property taxes and the changing politics here because you are the ones creating the problem.

Sent from my SM-G892A using Tapatalk

Sometimes I feel sorry for whoever has to dress you and tie your shoes each day.

[Drycreek3189]

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.

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....

The place I live on now was put on the market just as prices started the downward slide in the mid-eighties. I passed it twice a day almost every day and kept hoping nobody bought it. The real estate sign finally came down and after a few months I approached the owner and bought it for about 60% of what it had listed for originally.

[Firefyter]

During crashes like the 80s and 08’ the hits were generally on properties with improvements with mortgages, raw land not so much.

[junkmanhunter]

6% interest is cheap, historically speaking. I expect and hope that we achieve balance without a crash.

You are correct about 6% being cheap. With having to overpay for houses and property that is the only way some people are getting financed and are able to justify building. To be honest, I'm building right now and instead of paying 100% cash, I am getting ready to borrow money to finish up build. I can keep cash and make more in market than the 3% Construction loan and when it converts to final loan it will be 2%.

I hope we can achieve balance without a crash, but look at history, it hasn't happened yet.

Sent from my SM-N950U using Tapatalk

[Benno]

land is being sold a little different today. Seems most places back home that come on the market are being sold in small 10+ acre tracts. People are seldom buying whole farms and ranches. A few years ago the guy across from my dad put his place on the market, 100+/- acres. Realtor had numerous signs put up ready to part the place. My dad had a deal worked with the owner before the first sign actually went up. He didn’t want to have 10 new neighbors.

[RMW]

We purchased 500 aces northwest of Katy back in 2001 for 1400.00 per acre, the neighbor just sold his 300 acres for 30,000.00 per acre.

[DRT]

Sometimes I feel sorry for whoever has to dress you and tie your shoes each day.

It's a choice. You can't ***** about them taking over Texas and then sell out to them. If can't see that that's your issue.

Sent from my SM-G892A using Tapatalk

[SC-001]

We purchased 500 aces northwest of Katy back in 2001 for 1400.00 per acre, the neighbor just sold his 300 acres for 30,000.00 per acre.

30K an acre?!

[Arrow-Tek]

I think most people that buy land aren’t just looking to resell. We bought our ranch several years back and can’t even thank about selling it. Wife and I have even thought about how to protect if from being sold once the kids get control of it.

[BucknBass]

Good info

[RiverRat1]

We purchased 500 aces northwest of Katy back in 2001 for 1400.00 per acre, the neighbor just sold his 300 acres for 30,000.00 per acre.

Around 1995 I looked at 100 acres just barely outside of Leander for 1k per acre. Today about 1 mile east of the property turned into a business road. Land is now going for stupid high like 200+k per acre on that road.

I only remember because I had just been married and told my wife we could buy the land and suffer but eventually have tons of money or buy a house and she chose house. I couldn't argue because it was probably the right choice but stings thinking about it.

[RMW]

30K an acre?!

Yes sir, subdivisions are being built in the area.