INFORMATION ABOUT THE COST OF NON-WATERFRONT PROPERTY

Before there was anything else, there was land. Since the beginning of time man has earned a living from, lived on, and fought over LAND. Land is one of the few investments that has historically continued to become more and more valuable with the passing of time. Perhaps this is partially because there will never be more land than there is now, and the demand for land is continually growing - along with the cost of land.

How quickly is land appreciating? To understand that, first understand that farmland is the base measurement for land values, just as crude oil is the base for petroleum products. So when farmland appreciates, so does other land. In the time period from 1999 to 2000, a two-year period, the cost for farmland increased by 42% as an average in the state of Wisconsin (24% in 1999 and 18% in 2000). I have yet to see figures for the year 2001.
 

Why is land appreciating so rapidly? In a nutshell, growing demand, decreased availability because of sources such as the DNR, and restrictive zoning are causing land prices to skyrocket.

How much should I expect to pay per acre? Unless you are buying a lot of land (40 acres or more), you shouldn't expect a "per acre" price at all. Land stopped being priced by the acre in cities a very, very long time ago. This trend has now carried over into any parcel of land that can be considered a "homesite". Think about it - did you haggle a "per acre" price for your 60' by 80' city lot? No, you paid a unit price. The same will be true if you buy a lakefront property or 5 acres of woods, if it is buildable property. The price you will pay for any given property varies as much as the price varies from car to car due to age, model, make, etc.

In summary, last week, last year, or 10 years ago was the best time to buy land. The second best time is today! Imagine yourself sitting on your porch in a rocking chair on a summer evening 5 years from now and thinking back about the price of land. You will either be saying, "Boy, I'm glad I got it when I did!" or "Land is just too expensive these days - I should have bought something back in 2002." I'll be more than happy to help you when you're ready.