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New Mexico | but those are "stock trade," tax doctored deals thus not relative to Real agri.
Both of em been for sale 5 years, one is approx 300,000 acres deeded ( rocks and scenery ...not much of a ranch really ), the other say 50 k deeded ( good high country place ).
First one is a $150,000,000 tax write off for both the buyer and seller ( 75m each side ).
Likely will not hear what the 50 k brought...big stock player seller and big stock player buyer.
Smaller places all been reduced 30%...and are bringing about 50% less than what folks "used" to think land was worth ( places previously priced at say $220 now priced at $90, places previous at $500 bringing say $250).
Still plenty high considering it takes 50 acres minimum to run a cow on most of it.
Seems like the rough places with timber on em are finally getting towards reasonable.
Lot of elk on those, high cow carrying capacities too.
Some large "no sales" at auctions ( mostly pivots, some rangeland too ) last year, so the Cash trend is likely lower.
Edited by Markwright 8/2/2010 23:42
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Land Market
