Cheap land prices - east / middle TN? (sale, attorneys)

[Beretta]

Originally Posted by JMT

You want to be in a gated community near a lake for only $6-10k/acre? I honestly cannot imagine where you can find that around here, particularly if you want to be within 45 minutes of a big city. Maybe someone else can be more optimistic, and if so I'd love to hear about it.

I agree with JMT. If you find this deal let us all in.

[hiknapster]

I guess a lot of people didn't get the memo. Prices were affordable, compared to the rest of the country, in the early 2000s. Dirt cheap they aren't, anymore.

You want a screaming deal, look in Nebraska, or something like that.

Otherwise, you troll the foreclosures clear across the country.

Follow the country's financial and housing markets on the news outlets. There are huge deals to be made but you should know what you are doing.

[Eat]

Five acres is the magic number which raises prices. Land over five acres will normally be less per acre than five or less acres of dirt. One guy down the road from me has five acres for sale. He wants $15K an acre. Comparable or better land nearby is $10K an acre for somewhat larger acreage.

Gated communities tend to be formal developments with quite a bit of infrastructure costs built in. They also tend to be heavily marketed and quite profitable for the developers. Somebody has to pay for all that, and it is the buyers. You can pay $100K an acre and higher in some gated communities.

[jorjust]

The reason I was looking at a gated community is that I was told by several people that it will help keep my property and house safe while I am not there. I would be willing to go for more than 5 acres of the price is lower. Any suggestions on areas to look at?

[Eat]

Originally Posted by jorjust

The reason I was looking at a gated community is that I was told by several people that it will help keep my property and house safe while I am not there. I would be willing to go for more than 5 acres of the price is lower. Any suggestions on areas to look at?

DM sent.

[2mares]

You realize that the gated communities also have various restrictions and fees. You need to check into that before you make a decision. That sense of safeness might not be worth the trade off.

[Forest Breath]

I know a farm close to where I live. $1000.00 and acre, must take the entire farm. 200 acres. So for $200,000 you can aquire a 200 acres farm with a house and barn. Part of the land is divided by a main road. That acreage is next to an apple farm/orchard. The guy who owns the orchard would love to buy that land that joins his at $6000 and acre. So you could sell those 20 or so acres and pay half the land price with that one sell, still leaving you with about 180 acres.

It just came up for sale a few weeks ago, right after I got my 22 acres. My 22 acres with a house was appraised at $204,000 and it is just a couple of miles from the 200 acre farm. VERY good farm land! Athens/Etowah Tennessee

[Eat]

$1,000 an acre for 200 acres is extremely low. The last time I saw that price, it was on 1,000 acres up by the Kentucky border, at least three years ago. For that price in the Etowah area, I would expect to find something seriously wrong with the property.

Usually, extremely good deals are snapped up by the Realtors, as soon as they hear about them. Still, if I had a loose $200,000, I would go look at it. It's not that far from here.

[Forest Breath]

This is a sitaution in which a daughter lives in Florida, had power of attorney for the Father. The Father lived on the farm with his mentally retarded adult son. The Father just passed away, the son is living in the home with a personal assistant. The daughter is making plans to move her brother to Florida with her and wants to sell the land as fast as she can. It is beautiful farm land and the average price in this area appears to be $6000.00 and acre. She does not want to sell it in chunks and hopes to sell the entire farm without dealing with subdividing it.

I imagine it will be grabbed up by someone very soon. Almost makes me want to mortgage mine and buy it today....200 acres for that price could prove to be a sound realistate investment for me....

but I am just trying to focus on my new land purchase and the home building and would not risk mortgaging my land right now for anything.

BUT for someone....whoever shows up first, they will be getting a steal!

[Eat]

Is it listed with a Realtor?