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6 million an acre?!!
Old 06-13-2017, 12:54 PM   #1
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6 million an acre?!!

So i see in another post , someone mentioned his funeral plot came out to 3 million an acre. Im not sure if he was serious but it sounds about right. I get my yearly house tax bill. I go on the website and they have all sorts of graphs, and charts and numbers. Apparently my property value is about 425,000 without the house. I live on 30 x 100. 3 thousand square feet. Extrapolate some and its 6 Million 171 thousand an acre. That was the low ball estimate, other charts had the land valued at more. When you live on square feet instead of acreage you lose perspective of things.
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Old 06-13-2017, 01:00 PM   #2
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I'd eagerly sell you my 25 acres for that [6 million total] and even throw in the house.

What is the old saying? Location, something, something....
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Old 06-13-2017, 01:01 PM   #3
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I'd eagerly sell you my 25 acres for that and even throw in the house.

What is the old saying? Location, something, something....
Thats very kind of you, I appreciate your generosity.
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Old 06-13-2017, 01:09 PM   #4
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Sure wish I could transform my farmland to residential, especially since cash rent is going in the toilet....
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Old 06-13-2017, 02:18 PM   #5
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So i see in another post , someone mentioned his funeral plot came out to 3 million an acre. .
Have you considered that somebody else maintains the land, pays taxes on it, etc. for perpetuity? Or at last until the sun starts to run out of fuel.
That will take about another 3.5 billion years so do the math

$3,000,000/3,500,000,000 yrs = $0.085714 dollars per year. Let's round it up to 9¢ a year using today's dollars for that acre.

Cheap at twice the price!
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Old 06-13-2017, 02:31 PM   #6
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Have you considered that somebody else maintains the land, pays taxes on it, etc. for perpetuity? Or at last until the sun starts to run out of fuel.
That will take about another 3.5 billion years so do the math

$3,000,000/3,500,000,000 yrs = $0.085714 dollars per year. Let's round it up to 9¢ a year using today's dollars for that acre.

Cheap at twice the price!
OK , ill take 12 million for my place, i throw in the house and all its contents, Chuck will that be cash?
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Old 06-13-2017, 02:50 PM   #7
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Is your neighborhood real quite with peaceful neighbors?
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Old 06-13-2017, 02:52 PM   #8
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Is your neighborhood real quite with peaceful neighbors?
Except for the occasional barking dog, this place could double for a funeral parlor. Oh i forgot from about 9am -8pm the Church rings the bell every hour, i find this soothing and very Currier and Ives. The fire house is 4 blocks away so sometimes i hear them when they are screaming out to fight a fire. Reminds me im in the city.
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Old 06-13-2017, 03:14 PM   #9
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So i see in another post , someone mentioned his funeral plot came out to 3 million an acre. Im not sure if he was serious but it sounds about right. I get my yearly house tax bill. I go on the website and they have all sorts of graphs, and charts and numbers. Apparently my property value is about 425,000 without the house. I live on 30 x 100. 3 thousand square feet. Extrapolate some and its 6 Million 171 thousand an acre. That was the low ball estimate, other charts had the land valued at more. When you live on square feet instead of acreage you lose perspective of things.
Yea, I remember talking to a few people who dabbled in land and developments.... they said that it was a huge change when land converted from some dollar amount per acre to some dollar amount per sq. ft... they loved it when it flipped since the sq. ft. price seemed to rise much faster than the per acre price...
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Old 06-13-2017, 05:00 PM   #10
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OK, you made me look up the house I grew up in. The lot is 1,800 square feet, and its per-acre value today, according to the tax rolls, is over $8 million.

That's NYC, so I would have to agree that location probably plays some part.

I guess I should count myself fortunate that I have absolutely no desire to live within 100 miles of NYC today.
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Old 06-13-2017, 05:17 PM   #11
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OK, you made me look up the house I grew up in. The lot is 1,800 square feet, and its per-acre value today, according to the tax rolls, is over $8 million.

That's NYC, so I would have to agree that location probably plays some part.

I guess I should count myself fortunate that I have absolutely no desire to live within 100 miles of NYC today.
Awesome , i knew you could relate.
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Old 06-13-2017, 05:58 PM   #12
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OK, you made me look up the house I grew up in. The lot is 1,800 square feet, and its per-acre value today, according to the tax rolls, is over $8 million.

That's NYC, so I would have to agree that location probably plays some part.

I guess I should count myself fortunate that I have absolutely no desire to live within 100 miles of NYC today.
As they say in real estate there are three things, location location location. In the Tx hill country, developed lots (streets water electricity outside cities )tend to go for about 50k an acre. Raw land just west goes for 3500 an acre.

Just for grins I went back and calculated the per acre cost of my house in Houston, which came out to about 190k an acre.
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Old 06-13-2017, 06:25 PM   #13
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As they say in real estate there are three things, location location location. In the Tx hill country, developed lots (streets water electricity outside cities )tend to go for about 50k an acre. Raw land just west goes for 3500 an acre.

Just for grins I went back and calculated the per acre cost of my house in Houston, which came out to about 190k an acre.
Yeah, i heard that about location times 3. When we got this place the real estate said and the schools are a 10. I told him my child is married. He said , "when you sell , they all want the schools".
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Old 06-21-2017, 03:10 PM   #14
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As they say in real estate there are three things, location location location.
I just looked up the zillow value on the house I grew up in. $503,379! It has since been heavily remodeled but at the time it was a two-bedroom Cape Cod with one bathroom and a half basement, unfinished of course. Dad later "sort of" drywalled in part of the attic to make it into a third bedroom for my sisters. He was a terrific electrician, a so-so carpenter, and was lousy at drywall.

My dad bought it new before WWII, I think it was $5k, and his "down payment" was that he did not take the refrigerator that was supposed to come with the house. (County code required a refrigerator.) Instead, he went to a "scratch 'n dent" sale and got one with a big dent on the side that was going to be against a wall anyway. Also it was heavily discounted by the builder because the County had not yet paved the road, so it was a dirt road out front. And I mean "dirt" - not even gravel, he had a photo of it. Having come of age during the Great Depression, dad knew how to sniff out a bargain.

Back then it was considered "out in the sticks" from Washington, D.C. Now it is close-in suburbia and priced accordingly.
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Old 06-21-2017, 03:25 PM   #15
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Wow, the land my house is on is only worth roughly $1,450,000/acre! Obviously I live in the "low rent district".
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Old 06-21-2017, 04:54 PM   #16
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I just looked up the zillow value on the house I grew up in. $503,379! It has since been heavily remodeled but at the time it was a two-bedroom Cape Cod with one bathroom and a half basement, unfinished of course.
<snip>
My dad bought it new before WWII, I think it was $5k.
My Dad bought his new in 1937 for $4800. Sold it as a teardown in 2009 for $550,000. That was before the big run up in costs! Infill new (5 yrs) home now worth $2.8 million!
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Old 06-21-2017, 06:44 PM   #17
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My house is on an acre, so there is no conversion.

The house I lived in to ~ age 10 was a tiny house but on an acre (septic system in the then semi-rural/burbs).

Then the farm house I lived in later was on 5 acres, so that divided down, not up.

Nothing at big $$$/acre, you guys/gals are all RICH! FILTHY RICH I tell 'ya!

-ERD50
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