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| So long story short, there are a decent amount of land auctions in the surrounding areas with a few completed in the last few days. Looks like values are holding up pretty well thus far ($11-13k) for good quality 90's CPI dirt. I visited with my banker some and he feels that if commodity prices stay at or lower values than current, it may take 6-9 months to see a reduction in land values and that may be only 5-10% depending on how long it takes for cash reserves to be burnt up. He said values could stay strong into 2025, of course none of us know what things are going to do. I'm really starting to think I'll focus on making improvements to existing acres and look for opportunities in the future if that adjoining parcel comes up or the one across the road. We saw a decent pullback here around 2018-19 and we took advantage of that, but kind of sat on our hands the last year or so thinking there might be a pullback. What are your plans? | |
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Land values into the future
