Land price bubble?

[BrianL]

With people fleeing states with higher taxes and land values and relocating to Texas, I don't see it ever going down. Now some of the speculation property, where they buy 50+ ac for $5000 then split into 5 acres for $30K/ac might.

You can still buy land in Lamar county for $2500/acre, or far west Texas for 1000/ac.

[Hogmauler]

A friend of mine is one of the anchor families of real estate in Fredericksburg. It’s been about two years since he leased his store front (the old bank building) to a hat company that took the space. He offices out of the back now.
Problem was he was taxed out of the store front by city council. And guess who’s on city council? Californicators. Some of these folks flee the mess they have created and come here and vote the same way. Can’t figure these folks out.

[DUKFVR]

? Californicators. Some of these folks flee the mess they have created and come here and vote the same way. Can’t figure these folks out.

Because they are liberal idiots!

[dpg481]

A friend of mine is one of the anchor families of real estate in Fredericksburg. It’s been about two years since he leased his store front (the old bank building) to a hat company that took the space. He offices out of the back now.
Problem was he was taxed out of the store front by city council. And guess who’s on city council? Californicators. Some of these folks flee the mess they have created and come here and vote the same way. Can’t figure these folks out.

It all comes down to more power and more profit, that's why those folks are in the place they are.

[txpitdog]

I’m waiting for all the Californians to come over here so I can score some cheap oceanfront land in La Jolla

[Landrover]

Its crazy now. Iv saw lots here in upshur/Smith counties for $30,000 an acre. No timber, sucky top soil, and all downhill.

This gives me hope just being north of I-20.....[emoji106][emoji106][emoji106]....I need an import from either coast needing a quiet 40 acres with lots of wildlife.[emoji489][emoji6][emoji489]

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[Landrover]

I have been involved in farm and ranch real estate and banking since 1977. In the late '80's, when oil was selling for less than $10/barrel, I saw land values in the Menard area drop 50%. Ranches that were selling for close to $800/acre sold for less than $400/acre.

Land on the river or running water seems to hold value better than just raw land but then it will be priced much higher on the front end.

Adios,

Gary

U think a comparable cycle is coming?

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[Els16]

I have been involved in farm and ranch real estate and banking since 1977. In the late '80's, when oil was selling for less than $10/barrel, I saw land values in the Menard area drop 50%. Ranches that were selling for close to $800/acre sold for less than $400/acre.
Land on the river or running water seems to hold value better than just raw land but then it will be priced much higher on the front end.
Adios,
Gary

There’s some great properties in the Menard area. However, the wind farms might drive prices down.

[Lexington]

I think a bubble requires speculation, and I don't get the sense that people buying rural property to live on, for example, would be considered speculative purchasers. I think there's honest demand, and, making very broad strokes, I don't think prices will turn around unless the economy in Texas were to reverse it's trajectory of growth.

I would like to be hopeful to be able to find more affordable land close to home in the future, but I don't that's realistic unfortunately.

[RJK70]

I think land, housing, and the economy in general will reset at some point. Housing and land prices are being propped up by low interest rates which allow people to spend more for the same piece of land or house. I do not think people have more cash, they are just able to borrow more due to the low rate. Once the rate goes up then prices come down, mark my word. There are very few buyer purchasing land with cash.

[Antlers86]

Paid $3200/acre 3 years ago in my area and now neighboring land is selling fast for $7k-$10k/acre.

Selling has crossed my mind but I’m afraid I would t be able to afford as much acreage as I have now. Crazy and thank God for letting my dreams come true 3 yrs ago.

[Gary Roberson]

There’s some great properties in the Menard area. However, the wind farms might drive prices down.

I think we have them stopped from coming into Menard County. Several of us let them know that they were not welcome and they pulled back. They are really busy destroying Concho County to the north.
Adios,

Gary

[Gary Roberson]

Now if we can just stop the fragmentation of larger ranches by the subdividers that chop up ranches and sell on contract for deed. Unfortunately, the only way to do this is to educate the poor buyers that the 15-20 acres that they have on contract is not large enough to hunt and most likely has no water under it. To make the water situation worse, this limestone soil does not hold water in stock tanks.
Adios,
Gary

[TeamAmerica]

it is not just land and it isn't a bubble. it's inflation. don't believe the numbers from the govt agencies and our honest FED. you can't simply print money by the TRILLIONS and expect the dollar to hold value. just go see how much a dollar from 10 or 20 years ago will buy you in land, trucks, health care, college, hair cuts. the only constant? the Dollar menu at McDonalds and i hate the break it to you on how they keep that cost down. Bitcoin is not going up so fast just because of speculation. it is simply an alternative to what is becoming a devalued currency (THE USD!).