Good time to buy land?

[CountryGent]

So, I didn't want to derail this thread, so I will start a new one. I've been chomping at the bit to acquire more acreage for the family, both as a planned migration south, but also for an investment and, possibly, agricultural purposes. As such, I've started looking again at parcels.

• Think this is a good time to invest?
• Anyone else looking into acquiring more land?
• What have you found thus far?

Thanks for sharing.

Read More

 

[Lilhigbee]

I'd say give it another six months or so, depending on how the COVID-19 thing shakes out. If there is a serious recession/depression/reset large tracts of vacant land will be hit really hard in price.

 

[HappyChemtrail]

Interest rates are good right now if you were going to finance. Prices still haven't corrected though... At least not in Central Oregon.

 

[SquirrelSlayer]

Keeping an eye on this.

24247 Base Rd, Havre, MT 59501 | Zillow

24247 Base Rd, Havre MT, is a Single Family home that contains 36500 sq ft and was built in 1950.It contains 33 bedrooms and 42 bathrooms. The Rent Zestimate for this Single Family is $5,452/mo, which has increased by $3,652/mo in the last 30 days.

www.zillow.com

 

[belshawelk]

Maybe prices will drop, personally I doubt it ( as far as a big price drop). Most vacant land is already paid for and taxes are pretty low. I have land in eastern Oregon and doesn't cost me much to keep, except the upgrades I choose to do. Bare land doesn't change in values too much unless its turns in a development tract in the right area. I think it could change perhaps with many people wanting to do exactly what you are looking to do which will slightly raise the price. I can tell you land in Eastern Oregon has been very steady on price for about 10 years. You can though like I did catch a right deal at the right time, but you got to be ready. Cash deals, financing on bare land is really. I can tell you that having a piece is a really good feeling in case things get really wacky. Mine is already to go in case this crap gets worse.

 

[XfactorPDX]

some really good information here, even if you aren't a permaculturist.
2 sided coin, big ag and monsanto can farm anywhere, but land that provides and has a healthy balance with most inputs originated / generated from said land is ideal.
Big ag can bully or take your land and write smaller checks, land flourishing and lush will attract someone willing to pay it's value as it is in the land not the title.

Property Purchase Guide: What to Look for When Buying Land? - Permaculture Apprentice

Reading Time: 10 minutes While attending a workshop recently, I ran into a property for sale. Its location was perfect: 30km from the capital, but not so distant that useful city services would be unavailable, decent topography and a welcoming ambiance. I thought to myself, if I didn’t already...

permacultureapprentice.com

permaculture real estate Forum at permies

permies.com

What to Look for When You're Buying Land for Permaculture

Permaculturists usually talk more about chicken tractors than real estate. But this video is different.

www.treehugger.com

 

[johnny bob]

eeping an eye on this.

24247 Base Rd, Havre, MT 59501 | Zillow

24247 Base Rd, Havre MT, is a Single Family home that contains 36500 sq ft and was built in 1950.It contains 33 bedrooms and 42 bathrooms. The Rent Zestimate for this Single Family is $5,452/mo, which has increased by $3,652/mo in the last 30 days.

www.zillow.com

I told my friend about this property. His wife was very mad at me. She did not want to take a road trip but off they went. Several days and hundreds of miles later he decided it was not for them at this time. He did say it was quite the place though.

 

[Alexx1401]

It will be a FAR better "buyer's market" if this does not end soon. The market was as hot as the economy. As this drags the economy down the market for homes and land will follow. People who are out of work are not going to by buying. Give it some time and see how bad this gets. Financing locked it at a couple percent will go a LONG way in making it a value.

 

[kbf64]

Agree on the price, I'm thinking of land Aug/Sept. possibly.

 

[SquirrelSlayer]

I told my friend about this property. His wife was very mad at me. She did not want to take a road trip but off they went. Several days and hundreds of miles later he decided it was not for them at this time. He did say it was quite the place though.

If you have more info on it I'd sure like to have it, I'm a bit concerned on the condition of the remaining structures and infrastructure.

 

[jfeller]

What I have seen is most are cash only, which is complicated for most. Anything able to be financed is very expensive. Southern Oregon is still manageable, but there are complications with water down there. I've been looking for a bugout spot for a while, unfortunately haven't found one yet.

 

[XfactorPDX]

while their is no right time for all real estate, their is a right time for your individual real estate.
Timing can be tricky, like stocks, the dead cat bounce is real, and not the time to act, as that's large investors changing positions. In the 08 crash city /urban crashed and big money fled to ag and timber. Timber is always the best hold, just watch big money and follow if your cash or gold balls.
The market has fluctuated in excess of 20 trillion dollars, with the majority of that being institutional investors with algorithm maneuvers.
I believe we will see depressed Urban values for a short period with great rates on 15's just long enough for the big money to come in and buy up amidst the wreckage, then watch the money jump in rates and big money fall back to a safe position, timber and ag.
I would find the property you want quickly, and watch the rate carefully and pull the trigger before the market reverts back to big money normalcy, ag and timber, because the prices will fly high and rates will follow, as market tightens.
Find now/soon, due diligence, don't get caught flat footed waiting for a .25 point, know what your happy with, and don't look back, property over time is the single biggest wealth generator. Several big banks are still holding big money in bad real estate from 08 foreclosure fiasco, most of this is urban, so rural, watch the rates and be ready to pounce at your sweet spot on the money your carrying.

 

[Martini_Up]

Land should have a home on it as if not it will be more difficult to finance.

 

[XfactorPDX]

an interesting read and timely for your conversation.

The Fed's Cure Risks Being Worse Than the Disease

(Bloomberg Opinion) -- The economic debate of the day centers on whether the cure of an economic shutdown is worse than the disease of the virus. Similarly, we need to ask if the cure of the Federal Reserve getting so deeply into corporate bonds, asset-backed securities, commercial paper, and...

finance.yahoo.com

 

[CRBMoA]

I was going to type something similar and WAY MUCH MORE DUMBED DOWN, because of the source, than XfactorPDX.

His market analysis is dead on.

It is a great time to be a cash buyer.

If you are looking for residential investment property and are NOT a cash buyer, you need to look for the sweet spot between housing prices falling because of foreclosures and property values doing the same. Because when the neighborhood goes belly up, the comps (comparable property valuations for appraisals) do too!

 

[CamoDeafie]

large tracts of vacant land will be hit really hard in price.

Can't resist this...

 

[No_Regerts]

It will be a FAR better "buyer's market" if this does not end soon. The market was as hot as the economy. As this drags the economy down the market for homes and land will follow. People who are out of work are not going to by buying. Give it some time and see how bad this gets. Financing locked it at a couple percent will go a LONG way in making it a value.

Especially as people need to sell that vacant piece of land they were holding onto because it wasn't cost prohibitive.

 

[Camelfilter]

I'd hold off.

If a recession turns into a depression (YIKES!), things will get all kinds of floppsie turvy.

 

[The Heretic]

Keeping an eye on this.

24247 Base Rd, Havre, MT 59501 | Zillow

24247 Base Rd, Havre MT, is a Single Family home that contains 36500 sq ft and was built in 1950.It contains 33 bedrooms and 42 bathrooms. The Rent Zestimate for this Single Family is $5,452/mo, which has increased by $3,652/mo in the last 30 days.

www.zillow.com

That is a lot of buildings to keep an eye on. If you have the number of people to do that, and the land could grow enough food to feed them, then it might be okay. Otherwise if I had less than 10 people, I would demolish some of the buildings to give attackers less cover to hide in. Depends on the layout of course, but I would think it would take at least several competent families to defend it with all those buildings.

I see it seems to have a pond, maybe a well. I would have to wonder if there is enough water for crop irrigation. Seems to have two wind power generators, not sure if that would be enough to power irrigation.

 

[The Heretic]

I don't think that land has come down yet. The prices lag behind sentiment by months. It will take months, maybe even a year for sellers to realize that the number of buyers is shrinking or going to be shrinking, and that prices will come down.

Personally, I hope there is very little drop in prices; I want to sell this year or next. My land would not be bought as a prime BOL though - more of a property for people that want to be outside the city, but still barely close enough to commute in for a job. I will just have to wait and see what happens with the market.