Posted by JDseller on August 19, 2011 at 20:36:09 from (208.126.196.144):
In Reply to: landlords posted by Chris in ND on August 18, 2011 at 23:39:32:
Your land lord did you a favor. He could have not said a thing and just rented to the next fellow that bid higher than you. Also do you really want to buy land when it is at historical highs?????
I have a good friend that has done very well. He has been buying land the last few years. He has told me the stock market has gotten to unstable for him to stay in it. He is willing to bid pretty high on ground because he want the security that it has against a bad economy. The land will raise and fall but will always be worth something. Stock in companies can become worthless.
Also your land lord may have been telling you in a way that he was going to buy that farm. He may have sold land in CA that he has a lot of capitol gains on. He may need that ground to sink those profits into. Us farmers think $10,000 acre ground is crazy high. He may have commercial land out there that is selling for twenty time that. So he can get a lot of land here for a few acres there.
It is also strange that the most confrontational guys are mostly out of farming. If you are not currently renting ground you have never seen the pressure on being able to keep renting ground. You might be giving what you think it crazy high and the next fellow will beat that buy 20%.
Two farms just rented for next year here, $490 a deeded acre. That means that the guy is paying rent on the road ditch and half the county road. Makes the farm-able ground right at $530 per acre.
A farmer can rarely compete with out side money in a land biding contest.
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