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| We see it down here all the time, someone has some land and it starts to get a little higher and they start selling off 10 acre tracts cashing in , thinking they are getting a lot of money for it, but in reality it's going to keep going up. One fellow even got so excited he sold off all of his frontage and had to go back and buy an easement to put a road in to get to the back side of the lots where he still had the back side of the farm left. In his case he really screwed himself because no one wants to buy the back side. If you are going to sell off part, sell off the back side, then work your way out to the front.
If you hold on to your property while everything else starts to build up around you it just increases the value of yours more every day. When the place across the road is selling commercial lots for $2.50 to $5.00 per foot it makes your land seem cheap at $1.50 or $2.00 per foot. even if you don't have roads and sewers in yet.
Do the math, sell 100 acres @ $9000 per acre or hold on a few more years and sell 100 acres @ $40,000 to $150,000 per acre?
Edited by Ray (ecks) 1/20/2008 09:53
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$9010/ac land sold today.
