Asheville Real Estate Journal
BIG Acreages and Farmland - A "Safe" Investment?
As a large acreage real estate brokers here in the Asheville , NC area, we are keen observers of the Land Market across the USA. Recently we had a discussion about Lots and Land . We hypothesized that Land Buyers (in this case large acreages) might find attractive the idea of special lending program(s)...possibly in concert with conservation organizations... possibly as sustainable agriculture grants ... Possibly a lease to buy program with a Farm Stewardship organization... .
Taking that discussion one step further- in terms of a "safe" investment- how does the large acreage and/or farmland real estate market look as compared to Lots in developments (where in a number of cases once very expensive lots have now tumbled in price?
Farmland Values Increasing
With farmland values increasing at rapid rates over the past 5 years, there has been growing concern over whether buyers/investors may face a farm real estate bubble. ... However, according to farmdoc daily farm debt levels are LOW, as measured by leverage.
If you are considering buying and/or investing in Large Acreages/ Land /Conservation Stewardship Land/ Land Legacies check out these resources before you act:
1. 2010 Farmland Value Survey Iowa State University
2. Farmland Values Up 2011 - "While most of the real estate market in the United States remains in a slump, rising commodity prices and other factors are causing a surge in demand for farmland and other agricultural properties."
3. The Impact of Higher Farmland Values on Real Estate Taxes
4. USDA Report Offers Continued Support for Land Values... "reasonably safe to predict that land values should remain strong through next year. "
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JeanAnne
I believe that farm land prices will increase in the next ten years.
Good luck and success.
Lou Ludwig
janeAnne,
Beautiful picture of the rolling hills and nice linking for farm land information. I agree with Lou, expect to see increased values over this decade... g
Lou~
I agree. There is only "so much" land, and there is also so much demand for quality of life...
Hi Cherise~
Good to hear from you! The photo of the Asheville area farmland Land was taken with my tiny camera...but, even so, it says so much!
JaneAnne it is safe to say they are not making any new land:) I find this subject interesting and I am about to write a post on a farm event i recently attended (Young farmers)
Enjoy the rest of the weekend.
janeAnne: That's a gorgeous photograph. The rolling hills makes me want to jump on a plane and see it in person! Ashville is very beautiful and obviously a very special place to live. I think land prices will increase and the value should go up but there has to be some incentives for people to buy. I like your idea about "Possibly a lease to buy program with a Farm Stewardship organization..." In my opinion, that's a great idea; however, I would like to see that option open to more people who qualify for such a program because they have an ancestry or direct lineage to say, the D.A.R., S.A.R., American Legions, etc.
I had land for sale in Texas but it was very difficult to sell because of all of the restrictions by the developer. Plus, the cost to build on the land was too much for my sellers. They got roped into buying about 20 acres and thought they could build but when it came right down to it, there was too much red tape and the expense was more than they could afford so they tried to sell it. The problem is that the buyers wanted them to pay for the water, septic and electricity and the sellers couldn't do it. So there it sits, dirt, trees, poison ivy and the whole nine yards of every poison thing you can imagine.