MONETTE FARMS land parcels for sale

[wheatking16]

Wildly overstated values. I'm in the Wymark area, and they had possibly offered as high as their $/ac amount, but realistic values are $1500-2000/ac less.


I would say it's less than market value, but if they were needing cash in a hurry, they probably were forced to take any offer presented.

So maybe, despite being considerably below the asking price, the market has not changed?

[blackpowder]

Yes. There is only one value.
That for which it will sell.

[Taiga]

I don’t understand the purpose behind the marketing of such large and expensive blocks, they could capture more value by selling individuals properties or perhaps groups of 4 quarters or something. Too much to manage maybe.

[foragefarmer]

All day everyday. I wish we could buy land for $4,500 an acre in this area. Some sold for more than double that last year.

That oil money works both ways in your case, no doubt

[wheatking16]

I don’t understand the purpose behind the marketing of such large and expensive blocks, they could capture more value by selling individuals properties or perhaps groups of 4 quarters or something. Too much to manage maybe.

Quick sale

[blackpowder]

That oil money works both ways in your case, no doubt

Far more to it than that.
But yes, if the only driver of an economy is ag commodity sales it would look different. No people for a start.

[AlbertaFarmer5]

The biggest difference here if not for oil money would be a lot lower land values due to a lot less people spending their hard-earned oilfield wages to buy their own piece of paradise. I suspect the median farm size in this area is a quarter section. Profitability and affordability of land is irrelevant if you're not using the profit of the land to pay for it.

Plus the fact that appraisals add 5 years of lease revenue to the value of any property with oil revenue. That would make land cheaper.

And the land that sold for nearly 10,000 an acre last spring had zero lease revenue and sold to bona fide Farmers deriving all of their income from farming related activities.

But we won't let any of those inconvenient details interfere with forages jealousy and resentment of successful farmers.

[Taiga]

Quick sale

I suspect individual quarters would generate more interest, more money, and quicker sales. Every neighbour is a potential buyer at that point.

[zeefarmer]

So maybe, despite being considerably below the asking price, the market has not changed?

It has dropped, because the $6500+/ac offers were legit and turned down by landowners. Only Monette's were paying that. If right around us has indeed sold, it will be interesting to see what rental and land prices will do going forward. All depends on who our new neighbors are

[blackpowder]

The biggest difference here if not for oil money would be a lot lower land values due to a lot less people spending their hard-earned oilfield wages to buy their own piece of paradise. I suspect the median farm size in this area is a quarter section. Profitability and affordability of land is irrelevant if you're not using the profit of the land to pay for it.

Plus the fact that appraisals add 5 years of lease revenue to the value of any property with oil revenue. That would make land cheaper.

And the land that sold for nearly 10,000 an acre last spring had zero lease revenue and sold to bona fide Farmers deriving all of their income from farming related activities.

But we won't let any of those inconvenient details interfere with forages jealousy and resentment of successful farmers.

You are likely close enough to Calgary for that to factor.
It's big enough now to generate it's own population demand regardless of one industry.
Seem to recall forage is in MB.
Winnipeg has never been that.