Land Cost

[Locked Up]

I have been looking around at property in the North Delta for duck hunting. I have just leased land for several years from landowners that will never sell their home places and that is understandable. I would love to stay where I am but my brother just finished college and is working now and this option has been coming up between us to just by property with out father. So, my question is what is land getting this days per acre. Farm land (land that I could establish a farmer on rent) and timber land for duck hunting.....How much does the price differ? I have talked to a few people about purchases but just kinda wanted to get a little more numbers out of people to make sure things are adding up.....

Are their any real estate agents or land agents on here that can reply? PM if you want to not post.



Thanks,

C.C.

[drakechaser]

You can google Mossy Oak Properties and go from there. You select the state you want from the map then the county. They sale real estate but they profess to being land professionals. I met a local guy here one time and he seemed knowledgable. I would speak with someone local first though.

[dukhunter]

I checked on a place a few weeks ago that had 3 electrical pumps and was broken field and woods with crops being grown this year the guy wants 2800/acre I don't know how that relates to others but thats what he wants.......

[Deltaquack]

It varies. It depends on if it has CRP or WRP on it......how much of the land is huntable vs. farming. A friend of mine recently sold 1000 acres in Tallahatchie county off of Hwy 32 for 2500/acre that was a lot of farmland but had several places to duck hunt on it. I've seen land recently in Sunflower and Leflore counties that has some CRP on it....some farmland and it went for 1250-2000/acre. I've seen some in Bolivar county recently go for 1500-2500/acre. It depends on how bad the seller needs to sell it as well.

[Trip]

I have a buddy who works for Cabelas Properties in Oxford, he usually has several places he can show.

Adam Dilley
901-674-5550

[Locked Up]

thanks guys for all the info and all the pms...I am talking it over with the fam and we hope to do something as soon as it seems right.....Alot of money being lost in the market but land seems to hold value....

[Kenny Boone]

I know a piece of land that just sold in Lambert for $2400/ acre that included a 1400 sq. ft house. It was only 60 acres, but a hole that was locked up on all sides. My father in law bought 200 acres back in 1975 for $220/ acre that was prime at the time. Boy how things have changed.

[H20fowlkiller]

go to www.landsofmississippi.com its a great site that goes county by county and includes several different realtors including mossy oak properties and sartains but the thing is its not always updated frequently enough because there are so many things coming and going

[missed mallards]

[TODO]

I know a thing or two about land values. . . but its specific to the property. You can find land sales in every delta county ranging from 1000 to 3000 per acre.

[kaustin]

good info so far. With farm land you have 3 components that should and will affect the value. The first is what type of government subsidy does it have attached. The second is how many bushels per acre is it generating NOW. The subsidy will show how it produced in the past, but you need to know what it it producing now. These 2 are the most important if you are doing this as an investment. Get these 2 right and a price you are comfortable with if looking for an investment.
Now, what most are looking for here and what will throw land price out of equalibrium with value is the all mighty DUCK. The problem with MOST, not all, land at the current time is "duck hunting". Everybody thinks that a few ducks, a pit, and a well makes up for poor farming land.
If you want a "drop dead good" duck hole, be prepared to pay dearly. Value has no bearing on a crazed duck hunter.
All this being said, my advice would be WAIT.
With the economy doing what it is, you will see some properties going into foreclosure. People have bought high and sold higher over the last 7 years. The housing market has seen its correction and over the next 2 years you will see it have its affect on hunting land prices. Several farmers that I used have told me that the land itself is worth about $800-1200 depending on crop production and subsidy. The duck hunting will affect some but not $1000- $2000 per acre which is what you are seeing now.
Good luck!
Buy Wisely!

[crow]

If there is a cotton subsidy tied to it...the price goes up. I know a block of about 450 acres in Yazoo County that could be bought. It has about 250 acres of high, sandy cotton land and the rest in one of the prettiest willow duck brakes you will ever see (consistent duck hunting...and I mean good consistent! Easy to manipulate the water and can be planted in the spring).
Fella doesn't list it because he will be selective about who buys it. I've tried to get him to sell only the duck land, but it's about as valuable as the cotton land. If that land is bought, it will bring over $3000 and acre...'cause he won't sell it for less.

It all depends on how badly a landowner wants/needs to sell the land and how badly someone with money wants to buy it!

crow

[JMallard]

I wouldn't be holding my breath waiting on a foreclosure. We have loaned out millions on recreational property over the past 5-7 years and do not have one poor performing loan on a rec property in the portfolio. That is not to say some of that will not come for sale sooner rather than later, but it will not be a firesale. Land values will hold. There are still people looking to buy GOOD properties.
JM

[Odis]

Todo is exactly right, I too know a little about land values and he's confirming what I am about to say, there are tracts of recreational timberland that will never be anything but recreational timberland that run as high as $3,600 per acre in Mississippi but what I am seeing due to current economic conditions is that values are not necessarily falling its just that very little is selling (i guess if your not going forward some would say your going backward), I am beginning to see some nominal downward trends and I do expect that to continue at least for the foreseeable future, be patient you could likely get a better deal within the next couple of years than in today's market