Patience my friend

Ive made a call to 27 water front acres, I think it can be had for 100k

The owner said he wouldn't sell it but I have info his kids will....

Yup - that's been happening anywhere within an hour of any decent Texas city.
I'm shocked to see larger tracts (50+ acres) fetching that full rate too - 1.6M for a 66ac lot to 3M for 100 acres!!

We're looking for a modern home 15 years <, no junk, a shop and 5-20 acres, very tough right now. If you know a secret and want to share I'm all ears.

Not that young. Had aqaintance spend some time in the federal pen in Three rivers for his part in the S&L scandal. Lots of crooked stuff going on during that time.

Take 2007-2009. Prices for homes, lots, land retail space cratered. Doesn't really matter why, just that they did. Cycles always happen. When folks are euphoric about prices that's when it usually happens. The market is being propped up by government intervention rather than market forces. I have no idea when prices will adjust, I just know that they will at some point. With inflation, the Fed will raise rates to counteract rising prices. Sometimes they knee jerk and over correct. Let's hope that doesn't happen. It hurts too many people.

Sub prime lending. President Clinton promised everybody who wanted to buy a home would be able to. Too bad a lot of folks couldn’t pay for it. No document loans, what a joke.

The old adage "What goes up... must come down" hasn't been true for property taxes and ins over the years.

During the Great Depression hundreds of thousands of people from Texas Oklahoma, and Louisiana moved to Californa,their grandchildren are nw retiring and moving back to the old family stomping grounds. They are bringing million dollar profits from the sales of their homes. There are no bidding wars, they just start out at super high prices. The sellers are seeing it, and priced their property accordingly.

Pretty soon money can't buy you love or a house

My personal opinion is the prices are here to stay for most of north texas. People are relocating here at an alarming rate where they are getting more bang for their buck. Talked to a couple last week that came from Nebraska and all they could talk about is how cheap real estate is. Now if interest gets absurd then all bets are off but a point or two wont scare anyone off.

Its already happening big time. Prices have tripled in 2 years in the Durant Kingston Madill area

Landmark purchased 637 acres for 1 billion dollars 2 years ago Brinkman Ranch that is about 1.5 million per acres, I suspect that price has doubles since then.

I bought 133 acres of recreational property(junk land) just South of Bowie about 35 years ago for $408 per acre using a Texas Veterans Land Loan. $54,264 that I paid off in a hurry, All trees, hills and rocks. About all I"ve done is added a 3 acre fishing pond, had a well dug, cut a road through it, built a shooting range and added a white trash trailer house. Realtor buddy told me the other day that it would go quickly for a million bucks and the price is rising daily. Why? We're being Californicated. Texas is a mecca.

Not for sale. Its my sanity place 70 miles from home in the metroplex. If you younger guys can swing it, buy cheap land.

a million? he's selling you short - try about 3 million$$ !!
compare these 2:
https://www.zillow.com/homedetails/260-County-Road-1791-Sunset-TX-76270/336805469_zpid/
https://www.zillow.com/homedetails/380-Private-Road-297-Bowie-TX-76230/250447865_zpid/

Pretty land out there - looked around out that way a good bit about 10yrs ago, before we found our 40ac in Mountain Springs, just a bit closer in.

Young families are having a hard time moving into some of the nicer areas of the metro mess, so much that school closings are a reality. This is not sustainable and I would think we have a year before it hits the fan. Texas may be on a lag with a few other key areas/hot markets around the country, but it’s coming. Tax rates may be stagnant year over year, but paying the same rate on another 20%? Is going to hurt a lot of folks.

Location, location, location.

Yep, agree with Jetdad. I worked for Sunbelt Savings (RTC) and witnessed the price drop in land. Sold Perot Jr most of the land that is now Alliance Airport. We were told to price it to sale. Problem we had was it was run by bankers who didn't know anything about real estate and wouldn't listen. When I hear "better buy now, prices aren't going to go down" and "they aren't making anymore land" I think back to the '90's. I don't know what the future holds, but I do know that prices can go down.

^^^^^^ words of wisdom.
We've seen it happen.

...getting crazier

- this just popped up last couple days, around the corner from my 40ac place...
.- only $50k/ac and some Californian will buy it..:

https://www.zillow.com/homedetails/49-Fm-3002-Valley-View-TX-76272/2065552131_zpid/

[quote=Papa Stan]Yep, agree with Jetdad. I worked for Sunbelt Savings (RTC) and witnessed the price drop in land. Sold Perot Jr most of the land that is now Alliance Airport. We were told to price it to sale. Problem we had was it was run by bankers who didn't know anything about real estate and wouldn't listen. When I hear "better buy now, prices aren't going to go down" and "they aren't making anymore land" I think back to the '90's. I don't know what the future holds, but I do know that prices can go down.

Ed McBirney, what a piece of work. I think Sunbelt cost the taxpayers about a billion $.

I just bought 1-5 acre track and 1 10 acre track in Washington county.
I put the 5 acre track on the market 2 days ago and we have a buyer, going to draw up a contract next week.
The 10 acre track is wooded with cedar and hardwood I walked it this morning and saw multiple buck rubs.
It’s not on the market yet but already had offers.
I wouldn’t mind keeping it but I can’t take care of what I have now.
So it will go on the market in the next few weeks.

Beginning but it’s nationwide.

Even farm land has shot through the roof.

Something to ponder cost basis keeps going up exponentially and Dems keep trying to lower the threshold on tax free inheritance limit exponentially….. eventually they will meet and no body will be able to leave their kids anything


Sounds almost by design……..

I saw acres for 225 in Van Alstyne last week. I bought 2 1/2 15 minutes from there 5 1/2 years ago for 35 and a few people scoffed at that price

You must be young. In the 1980's if you were in the real estate business you were screwed. Prices fell like a rock. The RTC (Resolution Trust Corp) was a government sponsored entity set up solely to liquidate real estate foreclosed on during the S & L crisis. Books have been written about it. I owned property that was sold by that entity for $0.10 on the dollar. [/quote

Yep mid to late 1980's the savings and loans went belly up - they were handing out mortgages to anyone who asked - I saw many a person go bankrupt - lost their business, their houses, etc. It was nasty - you could buy property then dirt cheap

Do you plan to build on this mega priced acreage? Look at lumber prices. Lowes is showing $50.00 per sheet for OSB (waferboard). Over $8.00 each for studs.

This bubble will pop, but when?