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Old 12-05-2009, 04:13 PM
 
Location: In my own world
878 posts, read 1,434,791 times
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Did Alaska have a bubble in land prices, too? I am just curious how much a 10 acre, wooded parcel runs. I understand that people are loathe to even talk about land prices for fear of speculators and developers showing up and ruining the place, so anyone who would rather respond with a pm, that's fine with me. I am not ready to buy land, but I am wondering if it's even remotely affordable anymore. Here in WA state, acreage is now reserved for the wealthy. I want to move to Alaska to start a life for myself away from all the greed and filth that has ruined my home state. I'd like to build a small A-frame, as well as put up a few greenhouses and outbuildings. I'd be interested in something that has power and water, so not way out in the boonies. I like rural, but I also like to be near a town with a sense of community. I know my limitations, and 50 miles away from the nearest person isn't something I'm interested in on a full time basis.

Last edited by NomadicBear; 12-05-2009 at 05:00 PM.. Reason: Adding information
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Old 12-05-2009, 04:56 PM
 
Location: Naptowne, Alaska
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A 10 acre parcel just sold a half mile from me. Lot's of stuff on the peninsula, although much of it may be hard to get to road wise.
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Old 12-05-2009, 06:59 PM
 
Location: Casa Grande, AZ
8,685 posts, read 14,477,541 times
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Like Rance said, you will pay even if cheap with the road to the highway if you didn't beforehand. You have utilities to put in from the most populated road, then you have to have water, heat.... It is doable anywhere, but you pay one way or another. If it snows and you need to get out and don't have a maintained road by someone other than yourself, or in breakup when slimey and rutted...or what do you need to clear before even making a driveway or path to get to where you want to build...haul water in those conditions if no well and do you have any idea how much snow you have to melt to even begin to make a pot of coffee...scary at times and I have roughed it in other places in the -48....
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Old 12-07-2009, 11:38 AM
 
Location: Wasilla, AK
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AlaskaRealEstate.com, LandInAlaska.com, AlaskasList.com are three good resources.
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Old 12-07-2009, 11:59 AM
 
Location: Palmer
2,518 posts, read 6,013,110 times
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Quote:
Originally Posted by NomadicBear View Post
Did Alaska have a bubble in land prices, too? I am just curious how much a 10 acre, wooded parcel runs. I understand that people are loathe to even talk about land prices for fear of speculators and developers showing up and ruining the place, so anyone who would rather respond with a pm, that's fine with me. I am not ready to buy land, but I am wondering if it's even remotely affordable anymore. Here in WA state, acreage is now reserved for the wealthy. I want to move to Alaska to start a life for myself away from all the greed and filth that has ruined my home state. I'd like to build a small A-frame, as well as put up a few greenhouses and outbuildings. I'd be interested in something that has power and water, so not way out in the boonies. I like rural, but I also like to be near a town with a sense of community. I know my limitations, and 50 miles away from the nearest person isn't something I'm interested in on a full time basis.
If you take out all the land owned by the different governmental agencies, and the land owned by the Native corporations, Alaska has about as much private land as Massachusetts. Then if you take away all the private land not accessible by roads maybe its about as much as Rhode Island.

So is there a bubble? Land in Alaska is VERY expensive to develop. Developing land means taking a large parcel and cutting it up into smaller parcels with roads, power, and phone. In the Mat-Su Borough, to make one acre lots out of a 100 acre parcel would cost around $15,000-$20,000 per lot, roughly. That's just the development cost, it doesn't count the aquisition cost.

A good ten acre parcel around here with road and power will cost from $40,000-$100,000. To bring power in to your property will be about $16 per foot if it isn't there now. So if you are 1/2 mile from power that will cost you $42,000.

Just a few facts to bring things into pespective.
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Old 12-07-2009, 12:45 PM
 
Location: In my own world
878 posts, read 1,434,791 times
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Quote:
Originally Posted by Marty Van Diest View Post
So is there a bubble? Land in Alaska is VERY expensive to develop. Developing land means taking a large parcel and cutting it up into smaller parcels with roads, power, and phone. In the Mat-Su Borough, to make one acre lots out of a 100 acre parcel would cost around $15,000-$20,000 per lot, roughly. That's just the development cost, it doesn't count the aquisition cost.

A good ten acre parcel around here with road and power will cost from $40,000-$100,000. To bring power in to your property will be about $16 per foot if it isn't there now. So if you are 1/2 mile from power that will cost you $42,000.

Just a few facts to bring things into pespective.
So, based on your statements, I would conclude that there is, indeed, a bubble in Alaska land prices. Why? Because, the more expensive land is to develop, the cheaper it should be in it's raw form. Otherwise, there is no financial means for the end user to afford it. Six figures for raw, small acreage is way too much for the common man.

Looks like Alaska is taking a page out of Washington's book. I still kick myself for passing on 5 acres of raw land in western WA 8 years ago. Priced at $30,000, I thought it much too expensive when considering the costs to bring in power, put in a septic system, and drill a well. Then the developers showed up, and they drove those 5 acre parcels up to $350,000, and built million dollar spec homes which largely sit empty and in foreclosure today. I hate developers. No, I didn't stutter.
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Old 12-07-2009, 01:21 PM
 
Location: Palmer
2,518 posts, read 6,013,110 times
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Like anything else, land is only worth what someone will pay for it. Don't blame the developers, they just offered if for sale. Blame the buyers and the banks that financed the buyers.

The developers took a risk to make a profit. If the land sits empty like you say, then they lost their shirts and then some.

I recently listed a 5 acre lakefront lot that everyone said was only worth $50K. The owner wanted over $200K. I thought that even though all the other lots on the lake had sold for no more than $50K there wasn't anything like it anywhere close so we tried it. Ended up getting less than $200K but a lot more than $100. And that was cash. It's the buyer that ultimately sets the value. If there isn't any buyer, there isn't any value at all.
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Old 12-07-2009, 01:37 PM
 
Location: In my own world
878 posts, read 1,434,791 times
Reputation: 1028
Quote:
Originally Posted by Marty Van Diest View Post
Like anything else, land is only worth what someone will pay for it. Don't blame the developers, they just offered if for sale. Blame the buyers and the banks that financed the buyers.

The developers took a risk to make a profit. If the land sits empty like you say, then they lost their shirts and then some.

I recently listed a 5 acre lakefront lot that everyone said was only worth $50K. The owner wanted over $200K. I thought that even though all the other lots on the lake had sold for no more than $50K there wasn't anything like it anywhere close so we tried it. Ended up getting less than $200K but a lot more than $100. And that was cash. It's the buyer that ultimately sets the value. If there isn't any buyer, there isn't any value at all.
"Don't blame the developers?" Don't make me vomit. They're the ones who moved in and mowed down several hundred acres of second growth trees in the name of greed, devastating much of the environment in the process. I can see that you're feeding at that same trough, so there's no point in getting into it with you. I started this thread hoping to get honest, objective information. You're biased, and therefore I cannot trust your numbers.
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Old 12-07-2009, 02:16 PM
 
Location: Palmer
2,518 posts, read 6,013,110 times
Reputation: 1367
Sorry to get you upset. Just trying to help.

You and I probably have more in common than you realize.

Property values go up and down. Just wait, they may come down. A 10 acre lot that was "worth" $100K in 1985 in this area, was only worth $20,000 in 1988. Now it's worth "100K" again. It's still the same 10 acre lot.
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Old 12-07-2009, 02:31 PM
 
Location: In my own world
878 posts, read 1,434,791 times
Reputation: 1028
I'm not upset. I just have a profound distaste for developers and used house salespeople. I don't know you, and perhaps unfairly lumped you in with the latter. As a principled person, I am at odds with them as I've never met an honest one. If you are, my apologies. Thanks for the input.
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