Insane land prices (home, buying, trailer)

[marmac]

regarding---------government subsidies that you get to not farm the land----

It would help in having meaningfull discussions if people had a clue about the CRP

Usually CRP payments have more corelation with what cash rent for what that property would bring in govt checks.

Because land is high priced for developement would have no bearing on your CRP checks.

[thriftylefty]

I have always wondered if the price of land was reflected in its proximity to major highways or rail?

[GraniteStater]

Originally Posted by thriftylefty

I have always wondered if the price of land was reflected in its proximity to major highways or rail?

I know in the recent past that rural land prices on the outskirts of metro areas tended to skyrocket in value as development inched closer to farmland.

[KansasKris]

Around Wichita we have watched small acreage go from $2-3,000 per acre to $8-10,000 per acre - and that's IF you can find some for sale! Around Flint Oaks Golf Course it's even more....

If you are looking for 80 acres or more, you need to become friendly with people in the county you wish to buy the land in. In Butler, Greenwood, and other counties around Wichita, if they know you are moving out from Wichita the "locals" will jack the price up compaired to what they would sell to another local for.

[cp1969]

Originally Posted by marmac

After reading many ag publications, it appears bankers are getting leary about loaning money unless you have other land they can take for collateral.

As one banker put it, "I don't care what land is selling for. You have to show a profit on what that land produces to make the mortgage payments."

Someone stated land is a great investment.
Many people said the same thing in the late 70's when land prices exploded.

People bought farmland for close to $3000 per acre only to see it worth about $1200 per acre a few years back.

Many people who bought high priced land on a Contract for Deed in the late 70's were advized to give it back to the owner and walk away a few years later cuz it was worth much less than what they still owed on it.

Gosh, kinda sounds like today's housing mess.

So what does that say for the same land that is priced at $12,500 per acre now??

[cp1969]

Originally Posted by marmac

regarding---------government subsidies that you get to not farm the land----

It would help in having meaningfull discussions if people had a clue about the CRP

Usually CRP payments have more corelation with what cash rent for what that property would bring in govt checks.

Because land is high priced for developement would have no bearing on your CRP checks.

I believe that is what I said...that CRP will gross you about $65 per acre, IF you can get your land into the program. That covers about 1/10th of the interest on this high-priced land.

Land, like anything, is a good investment as long as it goes up in value. I have to think that we have reached a ceiling because it is priced far, far above what agriculture can return and at least 80% of this ground is agricultural...nothing more.

[GraniteStater]

Originally Posted by KansasKris

Around Wichita we have watched small acreage go from $2-3,000 per acre to $8-10,000 per acre - and that's IF you can find some for sale! Around Flint Oaks Golf Course it's even more....

If you are looking for 80 acres or more, you need to become friendly with people in the county you wish to buy the land in. In Butler, Greenwood, and other counties around Wichita, if they know you are moving out from Wichita the "locals" will jack the price up compaired to what they would sell to another local for.

Greenwood County is way too far out from Wichita to ever grow much. Also, I would hate to see any exurban sprawl out there in the heart of the Flint Hills. In that area I think most of the landowners live out of state and have huge "land holdings."

[TinaMcG]

Originally Posted by silverhaired51

Just a few miles away from me, land is selling for 10,500 an acre, to build a house on.

A half of a mile down the road from us is a 10-acre lot for sale for $250K. It The area is zoned one house per ten acres, so I don't think it's going to sell any time soon. It used to be part of a 20-acre property, and when the people sold the house, they were granted a permit to subdivide and keep ten acres to sell separately. That was two years ago. I think they're crazy to be asking that much.

[KansasKris]

GraniteStater,

I live in Wichita and work in Eureka. It's a easy 1 hr drive through the beautiful Flint Hills! Everyone should have to drive to work through the FH's for 6 months - the beauty is unbelievable and ever changing....
The town of Eureka itself, has seen hard times, but there are many wealthy land owners around Greenwood County. Some of the best cattle grazing land in the state is there, but you are right when you say there is little "farming" - mainly cattle & horses. Some of the ranchers have adopted the wild mustangs from the government and they must be left "wild" and not interferred with to any extent.
Unfortunately, urban sprawl is happening. I'm usually going the opposite direction from most of the traffic - most live in Eureka and work in Wichita.
KK

[GraniteStater]

Originally Posted by KansasKris

GraniteStater,

I live in Wichita and work in Eureka. It's a easy 1 hr drive through the beautiful Flint Hills! Everyone should have to drive to work through the FH's for 6 months - the beauty is unbelievable and ever changing....
The town of Eureka itself, has seen hard times, but there are many wealthy land owners around Greenwood County. Some of the best cattle grazing land in the state is there, but you are right when you say there is little "farming" - mainly cattle & horses. Some of the ranchers have adopted the wild mustangs from the government and they must be left "wild" and not interferred with to any extent.
Unfortunately, urban sprawl is happening. I'm usually going the opposite direction from most of the traffic - most live in Eureka and work in Wichita.
KK

Thanks for the updated info. It has been a few years since I have been to that county.