Just a few short years ago, acreage could be found for $10,000-$15,000 per acre. Horse people seemed to be coming in by the thousands and constructing their dream ranchers. However, within a couple of years, we watched the "boom" of 2004-2005 bring those prices closer to $50k per acre. Now, here we are in late 2007 trying to use our most creative marketing to get $25k per acre....For example, I have a beautiful 10 acre parcel in Umatilla FL (approx 15 minutes from The Villages and bordering the Ocala National Forest) with a solid brick 1800 sqft home listed for $350K. We've had several "lookers", but no offers. At $25k per acre ($250,000 total), we're only valuing the house at $100k. Sure, it needs a little "updating", but at this price, a savvy investor could buy it, put a few thousand into it, and hold for 2008-2009 "recovery" period and make a nice profit. Does anyone know of an investor looking for this type of property?
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