Land
in Tennesse
As a rule of thumb, clearcut
Tennessee land (recently stripped of trees) is selling for less than
$1k per acre, mostly wooded land is selling for around $1k per acre,
farm land without a house and about half cleared of timber is selling
for around $2k per acre, and farm land with a house is selling for $3-4k
per acre depending on the value of the house and the other buildings
on the property.
Nationwide, real estate should
remain depressed well into 2011 according to the latest report from
Bloomberg:
U.S. home foreclosures
climbed to a record in April, a sign that government mortgage relief
efforts have yet to turn the tide of property seizures, according
to a report by RealtyTrac Inc….Unemployment of 9.9 percent and
a rising percentage of homes worth less than the mortgages on them
are combining to thwart a housing recovery, according to RealtyTrac.
About 5 million delinquent loans will probably end up in the foreclosure
process in addition to the 1.2 million homes already taken back by
lenders, Sharga said. Defaults may not peak until 2011 depending on
how lenders process them, Sharga said. "The underlying conditions
-- mostly unemployment and millions of 'underwater' loans -- haven't
improved," he said. --Businessweek
link
This translates into considerably
more housing inventory next year, and house (and land) prices will continue
to drop. Not that it matters in Tennessee when they are already at rock
bottom prices. But more inventory means more choices.
Tree
farm idea . A tree farm can be easily established in Tennessee.
A tree farm is a 15-20 year investment if you are looking to plant valuable
hardwood trees (black
walnut, black cherry, and white oak) using ideas like Sonic
Bloom. Need a solar powered system to charge
a 12 volt battery. Need to use a charge
controller to not harm the battery.
Notes:
Properties for sale that
I looked at in 2010
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