Builders still can’t keep up with D-FW home demand. The D-FW area ranked second in the country in housing construction in 2015, but that’s still not enough to meet the needs of thousands of newcomers to the area.
Developer buying up property in Fort Worth's Six Points Urban Village Fort Worth Star Telegram Dallas-based Criterion Development Partners, developers of high-end multifamily properties in Texas and Massachusetts, has been quietly buying up...
Around 80 people packed the room at the Kokomo Shrine Club Tuesday, some there to bid, others there, as Halderman Real Estate Services area representative John Miner said, "to get free appraisals on their land." Citing USDA figures, Bloomberg reported farmland values nationwide have increased by 72 percent over the last three years, leaving farmers concerned about a bubble market. Farmland could lose 30 percent of its value in the next three years as the corn rush ends, Gary Ash, chief executive officer for 1st Farm Credit Services in Normal, Ill., told Bloomberg recently. "[...] we're not seeing much of a decline in anything," Miner said. The auction property, listed as the Ammerman-Harris property, had been in the same family for generations, but both the Spanglers and the Wingers thought it hadn't been farmed by anyone in that family since Don Winger and Charles Spangler, now both in their 80s, were young men. Farmers pay close attention to soil quality and yields and auction houses like the Wabash-based Haldermans usually list the specific types of soils geologists have recorded on the particular property. For at least the past year, tillable acres with good soil quality in the Corn Belt have been going for more than $10,000 an acre. After bids for the whole farm reached $1.4 million, the auctioneers took a five-minute break, just to give the remaining interested parties time to confer. When the bidding resumed, heads in the room swiveled back and forth, like a tennis match, as the Spanglers and the Wingers tried to decide what to do. Farmers haven't forgotten the collapse in farm land values in the early 1980s, and neither family knew how high the other was prepared to go. [...] Brad Winger didn't use the word "bargain," but said he thought the same parcel would have averaged $11,000 an acre last year.
Cash crises, political grudge matches, suicide. None of it stopped David Walentas from forging a ten-digit fortune by creating an entire neighborhood in New York's underdog borough. And he's about to do it all again.
The land rush is on. And along with the pandemonium in the development site market comes values that are rising rapidly. All of this activity points toward a palpable optimism from developers about the future of New York City.
Troy Corman's insight:
Big Apple land sites could fetch $1,000 a foot this year?
With the prospect of selling corn for less than $3/bushel out of the field this fall, the coffee shop conversations have turned from record-high land sales or staggering cash rents to the discussion of “no sales” at farm auctions and what will the reductio
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