CRAZY RE Pricing
Printed From: Unofficial Allis
Category: Other Topics
Forum Name: Shops, Barns, Varmints, and Trucks
Forum Description: anything you want to talk about except politics
URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=192322
Printed Date: 22 Aug 2025 at 2:50pm
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Topic: CRAZY RE Pricing
Posted By: DMiller
Subject: CRAZY RE Pricing
Date Posted: 12 Dec 2022 at 7:52am
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This is north of Eolia MO listed as Silex but closer to Elsberry https://merchantofhomes.com/listings/187951035/680%20Tickridge%20Road" rel="nofollow - https://merchantofhomes.com/listings/187951035/680%20Tickridge%20Road $567,000 for 31 acres, and a Slab UGLY shed 1800sf house.
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Replies:
Posted By: jaybmiller
Date Posted: 12 Dec 2022 at 7:58am
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well you can't buy a 120 year old itty,bitty house for that in Hamilton, and double that price for anything in Toronto... I SHOULD have gotten that selling price for the 1 acre I sold 2 years ago...... any idea if the land is workable ? ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: steve(ill)
Date Posted: 12 Dec 2022 at 8:23am
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they may not be out of line.....Ground looks flat and i see a pond... Farm ground is close to $9,000 acre in many spots so $275,000 for the farm..... NEW house prices are in the $150. per sq ft in many areas of Mo... so another $275,000. for the house..
------------- Like them all, but love the "B"s. |
Posted By: Charlie175
Date Posted: 12 Dec 2022 at 8:31am
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I can't figure out with input costs how you could make money buying land at that price and farming it. ------------- Charlie '48 B, '51 CA, '56 WD45 '61 D17, '63 D12, '65 D10 , '68 One-Ninety XTD |
Posted By: steve(ill)
Date Posted: 12 Dec 2022 at 8:40am
I agree Charlie.... this is what farm ground sold for in Illinois last year... !! ------------- Like them all, but love the "B"s. |
Posted By: jaybmiller
Date Posted: 12 Dec 2022 at 10:27am
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re: I can't figure out with input costs how you could make money buying land at that price and farming it. you DON'T !, you resell to another speculator for a quick 10-15%...or more... Was told the the good Lord only made so much land, He ain't making anymore of it, so get as much as you can afford. ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: DMiller
Date Posted: 12 Dec 2022 at 10:47am
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That area is not so much farmable, most often garbage Clay. MIGHT get fescue to root up around that shed, MIGHT. Be lucky to set food plots and get wildlife onto it on occasion. Building as that can be bought Kit Form, Stick Built, Slab on Grade with Keystone footers is a wet mess on a clay zone, mold prone. IF set to Footers Foundation would be close to $48k(Priced one similar last year), 4" pour for Home and 8" footer walls 28" Deep. Home kit for that including drywall from lumber company south of here $67k delivered with steel and all fasteners and sheetrock along with generic doors and windows. Pattern is really close. Construct Costs dependent of Contractors from Troy/Silex/Clarksville are around $45/hr. Building that here on $4500/a ground is roughly $375k. Know that as one near to Drake MO sold for that last month (2060sf), was in our rag paper. N Lincoln County is not close to any reasonable services or shopping, for good money employ work is a 50-70 mile transit into St Charles/St Louis Counties. I am on 78a, decent pasturage, asphalt road access, 4.5 miles from town and could only ask $850-900K Home is Foundation, 9'pour, finished 3000sf, Shop building and barn, fenced and cross fenced. That RE Agency is well known for exaggerated pricing, sits on a lot of properties awaiting next Boom.
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Posted By: Pat the Plumber CIL
Date Posted: 12 Dec 2022 at 12:30pm
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They sold 330 acres of prime farm ground for 18,000 an acre last year . A BillGates investment group affiliated with an enormous BTO. Next Monday a trust is selling off another 300 acres. Some people I know are selling some of their land so they can buy part of this trust that is a 80 acre field next to their property. I asked Anna why she was selling. So we can buy that 80. Her family has enough money to buy the 80 acres. Says they are selling some land to buy some land that is closer to home . Tax purposes I guess? ------------- You only need to know 3 things to be a plumber;Crap rolls down hill,Hot is on the left and Don't bite your fingernails 1964 D-17 SIV 3 Pt.WF,1964 D-15 Ser II 3pt.WF ,1960 D-17 SI NF,1956 WD 45 WF. |
Posted By: WF owner
Date Posted: 13 Dec 2022 at 5:48am
I mentioned the same thing to a "big farmer" near me. His response was something to the effect of we are just buying the right to use the land. They expect the price to keep rising, so they will farm it, then, at some point in the future when the farm is sold, the land will be worth more than they paid for it, when they are ready to sell it. He also said that he would rather buy land, even if the price is high, rather than rent land, unless the rental was very cheap, because they gain equity in owned land (which the bank likes).
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Charlie175 wrote:Posted By: DMiller
Date Posted: 13 Dec 2022 at 6:25am
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At some point, as with anything exaggerated in value, the bottom falls out. 1931 a person could buy land for pennies as was nothing worth anything as was no money to be had to buy it. Major investors have noted the value of the US Dollar is inflated against debt by 120% where the Great Depression began on a 90% over value. We sit at a dangerous precipice of failure. |
Posted By: Tbone95
Date Posted: 13 Dec 2022 at 6:35am
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Having the cash to buy the land is a whole different ballgame than borrowing to buy it. If the land is purchased and owned outright, when the value of the dollar drops more, and /or the whole financial system collapses, you'd then be better off owning the land than having a pile of useless dollars in a failed bank. Return on investment not so great, but neither is less than a Percent in a savings account. Can do a tiny bit better with a CD and so forth, but that diverges off topic. If you can buy the land outright, then make a profit vs cost of inputs, you're doing good and have a lot of assets to back your operation.
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Posted By: Codger
Date Posted: 13 Dec 2022 at 7:04am
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I feel a strong recession is on the horizon. Politicians stave off the inevitable and pass the blame which is coming to an end again. To many years of pushing consumer goods, (houses, cars, modern amenities) into the hands of people who cannot afford, or will work for it with far too easily obtained credit. This all has to be paid back somehow. I remember the 1975-1976, and early 1980's economic recessions very well and trying to raise/feed a young family in those days. I did it without credit as had none then, and still have no debt to this day. I feel "It's" the place to be in these times. ------------- That's All Folks! |
Posted By: Tbone95
Date Posted: 13 Dec 2022 at 8:06am
Agreed.
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Posted By: tadams(OH)
Date Posted: 13 Dec 2022 at 2:48pm
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Watch the forgein countries buy US land
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Posted By: DMiller
Date Posted: 13 Dec 2022 at 3:08pm
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One good aspect of Foreign ownership in US Properties, they CANNOT take it with them. Bottom falls out and they are in home nation in need of funds they can sell at a loss or see the states take them for tax sales. Chinese own a great deal in MO currently, a few of these parcels have come under fire for failure to pay State and County RE Taxes, are going to end up on courthouse steps. A RE Broker made note of that here as bought foreclosed or distressed(Tax Sale) properties at Our courthouse as I sat and watched the proceedings to see IF I thought had any chance to try my hand at it. I do not as BIG Money handlers run these shows as I asked him about the process.
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Posted By: DMiller
Date Posted: 13 Dec 2022 at 3:17pm
I was a starting out mechanic in 1975/76, know all too well the money we had coming in against the expenses going out, I still had rabbit ears on a tv and a single phone on the wall. Did have a dry living space and a gal friend, actually bought a new 1977 pickup truck as had to get something viable for working from. Sorry to say my Wife and Sis in Law will implode if do not have instagram faceplant and tictoc or cell services. I can go weeks without any telephone or tv, just rely on old fashioned letters or face to face contacts.
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Posted By: 200Tom1
Date Posted: 13 Dec 2022 at 9:30pm
| +1 Codger |
Posted By: shameless dude
Date Posted: 15 Dec 2022 at 11:02pm
| I laughed when it said: property type=rustic! LOL |
Posted By: JohnColo
Date Posted: 16 Dec 2022 at 1:11am
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If it were in Boulder County, Colorado, maybe you could buy it for twice the asking price, maybe... |
Posted By: DMiller
Date Posted: 16 Dec 2022 at 8:25am
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Brother at Johnstown is becoming less enamored of CO as the CA immigrants seemingly work in a take over mode. And Yes, he came from CA as had his wife and her child with her hubs and children. Last night he noted he may be able to sell Their home for double what they paid just a short few years back, is paid off so all would be essentially profit where he intends to dump that in Wife's lap IF he leaves as she will remain with her daughter, will be headed to Eastern TX to stay close to his boy and grandchildren or possibly to SE MO where our other brother is nesting currently. Politically he feels CO is a narrow margin from becoming CA IV, as WA and OR are II and III. TX is fast coming up but so far all the Liberally reminiscent of CA are huddling closer to Austin as DFW is primarily Conservative Country.
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