Real estate thread

Sword

Sparrow
I worked as a handyman / repair guy for a while and the amount of trash that modern homes are is stunning. I was asked to paint over smoke stains, paint over cat/bird poop on the walls, seal mouse droppings under the sink and so on. These houses would sell for half a million in a few days. We are totally past bubble territory normally, but all the block rock (((money))) distorts the market.

Anyone here experienced with further north states: alaska, montana, idaho?
 

Hypno

Crow
Montana - The area between Kalispell and Glacier NP is nice but expensive. Lots of Canadians have second homes there.

Alaska is very expensive.

Idaho - no information but the part nearest Wyoming is beautiful and rural. I've heard that Californian refugess are bidding up prices in Idaho cities and towns to absurd levels. Might be OK if you keep rural.

If you are looking for cheap land, middle tennessee, between Nashville and Knoxville (north if I-40) has some deals. Also, northeastern Tenn east of Knoxville. Former is rolling, latter is semi-mountainous and you have the issues with hillsides discussed above in teh context of WV.
 

oldfaith

Robin
Orthodox
Montana - The area between Kalispell and Glacier NP is nice but expensive. Lots of Canadians have second homes there.

Alaska is very expensive.

Idaho - no information but the part nearest Wyoming is beautiful and rural. I've heard that Californian refugess are bidding up prices in Idaho cities and towns to absurd levels. Might be OK if you keep rural.

If you are looking for cheap land, middle tennessee, between Nashville and Knoxville (north if I-40) has some deals. Also, northeastern Tenn east of Knoxville. Former is rolling, latter is semi-mountainous and you have the issues with hillsides discussed above in teh context of WV.
Those MT/ID/Alaska boats had sailed for anyone without loads of money.
One plus of those places though is that in their rural parts got either no building codes or lax.

TN is one of the hotter markets right now. This is the heat map:
https://sparkrental.com/hottest-real-estate-markets/
2020-2021 increase in TN farm land values had been more than twice of that in KY, WV or VA, speaks of demand.
TN overall is definitely growing faster than KY or WV (probably has to do with lack of income tax), especially Eastern half of TN.
 

Hypno

Crow
TN is hot because no state income tax and a lot of jobs being relocated from Chicago or California to Nashville. So yeah lots of incremental demand.

Job prospects are growing less rapidly away from Nashville.

East Tennessee and North Central Tennessee is not farmland - either mountains, hills or forest.
 

oldfaith

Robin
Orthodox
TN is hot because no state income tax and a lot of jobs being relocated from Chicago or California to Nashville. So yeah lots of incremental demand.

Job prospects are growing less rapidly away from Nashville.

East Tennessee and North Central Tennessee is not farmland - either mountains, hills or forest.
There's plenty of farmland for sale in TN though, and the market for it, Eastern half of TN got plenty of pastures which is considered farmland too.
I was referring to average farmland prices in TN as shown in in this August 2021 report. Pasture is priced lower than cropland:
The reason I refer to farmland prices as this can be used as reference point to statewide general land pricing.
If one want to have a usable part to the parcel/not just sloping woods, it will be priced based on local farmland pricing, but priced upwards because farmland is sold in large batches unlike residential.

Below is satellite of what's often found in Eastern half of TN before Appalachians, these are quality pastures flat as a pancake,
but mostly, pastures there are going to be rolling:

tnsatellite.jpg

One of those parcels view from road:

tnpasture.jpg

But very often it will be rolling pasture like this in Eastern part of TN:

rollingpasture.jpg


Nashville is crazy booming. This can be felt in towns sitting on highway corridors pretty much anywhere East or South of it too, and all the way to Bristol, towns appear to be flourishing.
 
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Hypno

Crow
I was distinguishing farm land because quality land is going to bring higher prices.

If one just wants a place to bug out or build a homestead, land that is not currently farmed is going to be cheaper.

I've been looking at the area north of Cookeville to the KY border. Cookevill is about halfway between Nashville and Knoxville.
 

oldfaith

Robin
Orthodox
I was distinguishing farm land because quality land is going to bring higher prices.

If one just wants a place to bug out or build a homestead, land that is not currently farmed is going to be cheaper.

I've been looking at the area north of Cookeville to the KY border. Cookevill is about halfway between Nashville and Knoxville.

I'm very familiar with Cookeville...Life pace definitely slows down towards KY border. It's nice over the border in KY too.

I find it's still more expensive to find homestead-capable, usable land than average per acre "farmland" price - because for homestead, one usually buys a smaller parcel than bulk sizes used for commercial farm purchases. There's a discount on bulk, definitely.
Even though the land on the parcel might not be used as farmland now and is overgrown with weeds and brush, it still gets farmland classification based on soil and slope ("prime farmland" or "farmland of statewide importance" based on soil class alone), so technically this usable acreage is farmland too and gets priced accordingly.
I find that with a residential mixed quality parcel - non-farmland wooded sloping part and useful flatter cleared part (which would be priced very differently if sold separately), the average per acre still the same or high than the average farmland price. In other words, useful residential acres tend to cost more than typical farmland of higher quality.
 

Zach

Pigeon
We moved right before the covid housing boom to eastern WV panhandle from western MD. In the Shenandoah valley. There was a (brand-new) house that I remember was for sale nearby when I bought my house. That house sold a few weeks after I bought mine. It sold for 285k in ~may 2020. Same house is listed 1.5 years later for 425k! 3 bedroom, 2 bath, 2 car garage, unfinished basement on 1.5 acres. cookie cutter new construction, cheapo basic materials. Insanity. 140k profit in 1.5 years, no work done to house. We are very lucky to have bought here when we did. Will be able to move further out to bigger house on more land much sooner, as Jefferson County is turning purple because of all the DC/VA/MD people moving here lately. The NE WV panhandle area around Berkeley Springs/Paw Paw/Keyser is very nice, remote but some nice people/properties up there. After driving through central/southern WV, not sure I could live down there, just depressing. Northern Central /NE WV is a bit nicer.
 

oldfaith

Robin
Orthodox
I've been focusing on finding a small cabin and that's what I bought. Much cheaper to insure and less taxes....less maintenance too.
Looked for no basement - adds to insurance price (and insurance prices will be increasing), can flood - which affects the house above it, etc. I will dig a cellar instead and will not be insuring it as it's underground anyway. Extra square footage, bathrooms, basements just add to taxes and insurance and most assuredly tax authorities and insurance companies will be gouging people as time goes. It's like being on the hook.

Once you move out of non-tornado areas and out of the mountains, insurance becomes pricey. But in the Appalachian mountains, there're things like terrible ice storms that can take down entire forest and all the infrastructure with those falling trees, I know the area with a lot of residents that had no electricity for a year after bad ice storm.
 
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oldfaith

Robin
Orthodox
The NE WV panhandle area around Berkeley Springs/Paw Paw/Keyser is very nice, remote but some nice people/properties up there. After driving through central/southern WV, not sure I could live down there, just depressing. Northern Central /NE WV is a bit nicer.
I've spent a month in short term rental close to Keyser...felt it was one of the most depressing places I've been to in my life and I've been around, to put it mildly. And that huge fuming powerplant smokestack around there is something. In Southern WV, there's Southeastern part which is super-nice, and Southwestern and Southcentral which got lots of drugs, mobile homes, Oceana, chemical valley and mountaintop removal. These are 2 different worlds.
 

Dilated

Woodpecker
Looked for no basement - adds to insurance price (and insurance prices will be increasing), can flood - which affects the house above it, etc. I will dig a cellar instead and will not be insuring it as it's underground anyway. Extra square footage, bathrooms, basements just add to taxes and insurance and most assuredly tax authorities and insurance companies will be gouging people as time goes. It's like being on the hook.
Once you move out of non-tornado areas and out of the mountains, insurance becomes pricey. But in the Appalachian mountains, there're things like terrible ice storms that can take down entire forest and all the infrastructure with those falling trees, I know the area with a lot of residents that had no electricity for a year after bad ice storm.

How much more value would you place on a piece of land that is already prepared (perc’d/cleared/road exists/graded)? The idea is to buy land and build a cabin.

I’m a novice (never bought land) but I would say a big premium would still be worth it. I see a lot of pitfalls in undeveloped land…especially related to setting up utilities.

I’m seeing some parcels in Ohio that are set up and ready to build on for $10k/acre. I could swing 5 acres at that price.
 

oldfaith

Robin
Orthodox
How much more value would you place on a piece of land that is already prepared (perc’d/cleared/road exists/graded)? The idea is to buy land and build a cabin.

I’m a novice (never bought land) but I would say a big premium would still be worth it. I see a lot of pitfalls in undeveloped land…especially related to setting up utilities.

I’m seeing some parcels in Ohio that are set up and ready to build on for $10k/acre. I could swing 5 acres at that price.
You'd price the cleared flatter parts of the parcel similar to local average farmland per acre, I posted a link to recent farm land prices report above, a bit more, 1.5X more max for rural (not suburban).

You wouldn't want to start with land where you need to clear acres, because it's going to get very expensive. But if you only want a small patch for the cabin cleared and graded it doesn't cost that much and hardly increases land value. The exception would be cutting into steep hillside situation.
Gravel driveway costs $2-$5/ square foot (usually starts at 10ft wide for trucks to get through), depending on area and starting conditions, so it really depends on the length of the driveway.
If you want a cabin to be put way back for privacy, new driveway can cost a lot. In some flatter places you can get away without real driveway just gravel around the house itself.

If you don't want to deal with lot development you can buy a lot with all the utilities setup and driveway, with old mobile home or small hunting cabin to live in while you're building.

When you say ready to build OH parcels, seems like you mean only the driveway and house sites had been prepped, it's hard to say anything without knowing the details/pictures/topo of those lots but $10/acre sounds mighty high for rural Southern Ohio unless it's next to town. These kinds of subdivision type of places tend to have land use restrictions by the way, just make sure it's something you're OK with. Usually have requirements as to what animals you can keep, what can build on them, minimum size and even architectural style.
Make sure you understand local county property tax rates - OH is not a low property tax place generally and you can often cut your taxes in half by going SE or South from there.
 
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oldfaith

Robin
Orthodox
I have a hard time battling the hate I feel for these texans/califronians that got rich of jewish means and are ruining these mountain towns. The town of my birth and I grew up in was a white middle class town, now its bought out by (((out of staters))) who erect their mansions in former forests and grasslands.
And who sold the houses to those out of staters? Must be aliens from space...
Your towns people had sold the properties. And they didn't put covenants on the deeds to prevent building mansions (could be easily done by restricting the square footage) or clearing forests, which can be done by putting conservation easement on the land. Because they wanted...the money as you had put it obtained by "jewish means", those squeaky clean pure people who sold the homes. They didn't restrict properties sold because they wanted to squeeze the highest buck out of them.
Anyway, we know what happened in mountain towns that didn't get any influx of newcomers, the level of drugs is unbelievable in many of them. So one can pick their poison.
 

NoMoreTO

Hummingbird
How much more value would you place on a piece of land that is already prepared (perc’d/cleared/road exists/graded)? The idea is to buy land and build a cabin.

I’m a novice (never bought land) but I would say a big premium would still be worth it. I see a lot of pitfalls in undeveloped land…especially related to setting up utilities.

I’m seeing some parcels in Ohio that are set up and ready to build on for $10k/acre. I could swing 5 acres at that price.

When seeing an assessment for a farm in my area a few years ago, the agricultural cleared land was valued at about 10K/acre. The woods was evaluated at $500/acre. A rural lot these days can run 150K pretty easy. One thing that happened was they restricted new lots, limiting supply, I think that's something to understand.

If there is a serviced lot, that is worth something, I'd guess at least 50K in remote areas, 100K in rural areas. If it is unserviced.... well it should be pretty cheap. Running power, and a road is big, a working well -- all these things cost money.

A 5 acre parcel if serviced at 50K to me seems like a reasonable price, but all real estate is local. Consider whether the land is clearable, often in my area, uncleared areas are unfarmable spaces, deep gorges, wetland, etc.
 

Dilated

Woodpecker
You'd price the cleared flatter parts of the parcel similar to local average farmland per acre, I posted a link to recent farm land prices report above, a bit more, 1.5X more max for rural (not suburban).

You wouldn't want to start with land where you need to clear acres, because it's going to get very expensive. But if you only want a small patch for the cabin cleared and graded it doesn't cost that much and hardly increases land value. The exception would be cutting into steep hillside situation.
Gravel driveway costs $2-$5/ square foot (usually starts at 10ft wide for trucks to get through), depending on area and starting conditions, so it really depends on the length of the driveway.
If you want a cabin to be put way back for privacy, new driveway can cost a lot. In some flatter places you can get away without real driveway just gravel around the house itself.

If you don't want to deal with lot development you can buy a lot with all the utilities setup and driveway, with old mobile home or small hunting cabin to live in while you're building.

When you say ready to build OH parcels, seems like you mean only the driveway and house sites had been prepped, it's hard to say anything without knowing the details/pictures/topo of those lots but $10/acre sounds mighty high for rural Southern Ohio unless it's next to town. These kinds of subdivision type of places tend to have land use restrictions by the way, just make sure it's something you're OK with. Usually have requirements as to what animals you can keep, what can build on them, minimum size and even architectural style.
Make sure you understand local county property tax rates - OH is not a low property tax place generally and you can often cut your taxes in half by going SE or South from there.

Seems like the best route is to find a parcel of land that has some flat spots not too far from the road (available utilities)…and already perked.

Taxes are definitely a consideration which is why I’m looking in Tennessee as well. I already have an urban residence in OH so I’m looking for something within 6-7 hours drive (OH/PA/NY/WV/TN).

Thanks for the info.
 
Does anyone have an inside information as to what has changed in Albuquerque Metro area in new Mexico since 2018?
Have the crime rates gone down? Have the real estate prices gone up significantly in the middle-class areas of town?
Prices of essentials (groceries, car insurance etc)? Cost of health insurance ?
On average how friendly/or hostile the local Native American folks are...compared to the Native Canadians in Quebec, and the Indigenous folk in some parts of Brazil?(With both groups I have had largely positive experiences in the past).
Dos anyone have any up-to-date information?
 
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