Can I interest anyone in 13 acres of woodland in western Amherst County for $39,900?  If not, then what is an appropriate price for land on the east face of the Blue Ridge Mountains these days.  The 12 acre parcel adjoining sold for $95,000 just three years ago.  The developer on the other side is asking $10,000 per acre for cleared building lots on a gravel road with no utilities.

In the Tye River Valley just north of Amherst County they think their land is worth $10,000 per acre.  But, a few weeks ago Tye River valley land brought $2500 per acre at an absolute auction.  Times are changing and sellers as well as appraisers are in for some rude awakenings.  As it stands now there will be no capital gains taxes on land because there is no gain in capital.

 

Amherst VA
11/17/2010
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Malcolm Fleming

Amherst, VA

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Montague Miller & Co

Address: POB 1020, 198 S Main Street, Amherst, VA, 24521

Office Phone: (434) 946-5522

Cell Phone: (434) 942-9376

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