Here in the western part of VA, local real estate advertising book for this area,
325 acres good farmland, excellent for horses, large bank barn, 70 acres tillable, 20 acres woodland, rest in pasture, large bank barn, 1800 sqft house built 1962. priced at only $3.9 million. Thats 12,000 bucks and acre.
Now this farm is far enough out in the country that there is no developement pressure, prolly never will.
Also there is a 1075 acre farm for sale out in the country,(same as above, very rural, no developement presure), 5000 sqft colonial style house, large bank barn, about 300 acres tillable, the rest pasture and a few other sheds. i called just to amuse myself with the price, after about 30 mins of listening to the realtor go thru his sales pitch, he said "I believe its priced very fair at $12.4 million"
The problem with this, is that 10-12 thousand bucks per acre is the same as prime developement land for houses in this area more if industry wants to buy it. Basically in this county, there is no difference in the price, if its just farmland or developement land. Every farmer when they go to sell, (and i have heard this from a good many farmers in this area) "hell if they can get that much for there farm, (even though it can be developed) then i can get that for mine (even though theres cant be developed).
I tell my sons, you better be damn glad you were born on this farm, casue if you werent, you wouldnt be farming.
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