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Portland Oregon Real Estate


mungkiman

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  • 1 year later...
On 10/14/2021 at 11:42 AM, Dave A said:

Here in middle Tennessee people have run up the price of land on my road from $1750 per acre to almost $8000 per acre in about one and a half years. Buyers from LA, Seattle, Portland, Minneapolis, Chicago, NYC, and San Francisco are buying sight unseen just to get away. Their words not mine. 10 acres and a mid sized older doublewide that would have sold for well under 100g two years ago just sold next to my friends place in Summertown for $350,000. Buyer never came to look and did not care about anything but could he buy it. Rutherford county just outside of Nashville the land has gone up to $50,000 an acre. I bought some totes from an oldtimer who had been there for a while and we got to talking about land and migrants from bad places and I about fell over when he told me property values. Area looked just like mine but his 10 acres were now worth 500g and then add the house which was on it too and we never discussed what it was worth.

 

  Land is not so easy to find around here as people who have lived here for some time don't intend to leave until they die so as a percentage not much trades hands each year. The desperation of these buyers is frightening and I can only imagine how bad things are elsewhere.

 

  A large chunk of land sold near Pulaski to a farmer from CA. He is buying the land for the equivalent of the taxes he was having to pay in CA each year on a rather large, I assume, farm. He is currently planting Pecans all over the place and will shut down his CA operation as soon as he can. He is fleeing a hostile attitude against farmers, taxes and water shortages. I have not spoken to this guy but the fellow that sells me steel told me about it.

 

Things are very slow right now but we were at $1M to $2M an acre for run of the mill land in Las Vegas. 

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