Originally posted by Texas Grown
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Originally posted by DRT View PostMan 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.
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Originally posted by DRT View PostMan 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.
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Originally posted by Burnadell View PostI 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:
Data Series Description Rural land data is based on transactions provided by land market professionals in Texas, Alabama, Louisiana, and Mississippi. The
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.Originally posted by dclifton View PostHave 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....
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Originally posted by BuckSmasher View Post6% interest is cheap, historically speaking. I expect and hope that we achieve balance without a crash.
I hope we can achieve balance without a crash, but look at history, it hasn't happened yet.
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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.
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Originally posted by RMW View PostWe 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.
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.
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