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Land Market Report

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By Jared Groce

North Texas rural land sales slowed a bit in April in the counties of Montague, Cooke, Wise and Denton counties, possibly due to the rainy, gloomy weather. Most land brokers are reporting that there are still reporting that the market is unbalanced, with many more buyers than there are sellers. The two hottest categories of land continue to be rural residential and heavily wooded recreational land with surface water. Below is a synopsis of land transaction for the month of April 2019 in five of our North Texas Counties. It includes information from North Texas Real Estate Information Service for farm and ranch raw land data, for 10 or more acres for the month of April 2019.

MONTAGUE COUNTY SELL TO DAYS ON
AREA ACRES PRICE/ACRE LIST PRICE MARKET

Bowie 25.07 $4,627.04 64.71% 57
Nocona 51.340 $3,311.26 94.61% 169
Very little transaction history for the month due to rainfall and lack of inventory.
COOKE COUNTY SELL TO DAYS ON
AREA ACRES PRICE/ACRE LIST PRICE MARKET

Gainesville 11 $10,500.00 91.3% 226
Gainesville 10 $13,000.00 100% 38
Muenster 34 $45,147.06 93.58% 248
Valley View 17.65 $13,881.02 98.39% 294
Gainesville 40.498 $8,642.40 95.89% 102
Collinsville 55.449 $9,406.66 96.28% 705
Cooke still has a large demand for wooded recreational land, as well as rural residential land in the Lindsay and Era School Districts.
WISE COUNTY SELL TO DAYS ON
AREA ACRES PRICE/ACRE LIST PRICE MARKET

Boyd 13.33 $12,775.69 94.63% 79
Bridgeport 15.85 $12,484.23 100% 65
Chico 32.25 $6,511.63 93.69% 260
Boyd 15.19 $14,812.38 100% 2
Decatur 27.82 $10,424.16 92.25% 285
Paradise 108.037 $6,275.63 97% 231
Boyd 71.223 $10,000.00 100% 4
Boyd 456.6 $6,564.55 87.45% 138
Wise County still has a high demand for smaller tracts with heavy tree cover for rural residential use, as well as a high demand for leasable grass for grazing. As with all counties in North Texas, overpriced properties are being overlooked by buyers.
DENTON COUNTY SELL TO DAYS ON
AREA ACRES PRICE/ACRE LIST PRICE MARKET

Sanger 36.86 $13,843.79 98.89% 6
Denton County continues to see explosive growth, as well as diminishing amounts of agricultural land. The most sought after land uses are for small, rural residential and for residential development. Tracts under 20 acres in the Argyle area can sell for as much as $200,000 an acre. Developers are still snatching up any farm land that they can get if it is fairly close to a town or an area with utility infrastructure in place.

By Matt McLemore
With the birth of spring and good rains properties in the other side of our coverage area, including Wichita, Clay, Jack, Archer and Young, have put on their Sunday best. For most land brokers and agents “Tis the selling season.” After a fairly slow winter, activity has definitely picked up in the North Texas area. Buyers seem to be hitting the road looking and willing make offers for properties on the market.

Buyers do seem to be more selective on what they are looking for, so the property itself as well as pricing on the property has an impact on whether the property is actively being shown and seeing offers or remaining stagnant.

The hot properties still seem to be raw land with limited to no improvements. Mostly pasture and good recreation seems to still drive the market and leads to the better price per acre. Farm sells are seeing a less of return on the price per acre than those sold with limited to no cultivation.

Sellers wanting to sell need to be cautious about over valuing their improvements to the property, realizing that there is a more limited market for properties with heavy improvements in the North Texas area at this time, with buyers wanting to take a more hands on approach and establish the property themselves.

To read more pick up a copy of the June 2019 NTFR issue. To subscribe call 940-872-5922.

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Farm & Ranch

Meanwhile, Back at the Ranch…

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By Rayford Pullen | [email protected]

When May arrives, we start thinking about weed control. With two years of drought under our belts, grass grazed short and hay stocks depleted, what we do now will influence our forage conditions for the entire year. With 75 percent of our annual warm season forages made by July 15 in North Texas, we need to get the grass growing while the sun shines.

Speaking of the sun shining, the biggest deterrent to growing lots of grass is restricted sunlight, and the biggest sun blockers we have are weeds.

Have you noticed weeds are normally just slightly taller than your grass and are probably blocking 90 percent of the sunlight from reaching the grass itself? So obviously, we need to improve conditions, so sunlight reaches the plants we want to grow.

With grass extremely short, more sunlight is hitting the soil surface now, which in turn results in more weed seed germinating. With the moisture we have received, we expect an abundance of weeds this year.

To read more, pick up a copy of the May issue of NTFR magazine. To subscribe by mail, call 940-872-5922.

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Farm & Ranch

Land Market Report: March Land Sales

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By Jared Groce

Rural land sales are continuing on a steady pace for early spring, with prices holding very strong with the sell-to-list price ratios remaining very high, even on properties that have been on the market for a longer than usual time period. The total number of transactions are picking up once again as the spring selling season kicks off, and the average acreage continues to decrease.

Larger acreage properties seem to be in higher demand than smaller properties currently, with many buyers simply parking cash in real estate to hedge against inflation. Interest rates seem to have settled down and most experts agree that rates will be reduced by the fed this year. Some lenders have programs in place that allow the buyer to reduce their rates without having to go through a full refinance ordeal.

To read more, pick up a copy of the May issue of NTFR magazine. To subscribe by mail, call 940-872-5922.

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Farm & Ranch

Texas FFA State Vice President Weston Parr

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Future Farmers of America was founded by a group of farmers in 1928 with the mission of preparing the next generation of agriculture. It has done just that during its 95-year history, as the organization works to give back to others by following its motto, “learning to do, doing to learn, earning to live, living to serve.”

FFA is an organization made up of state associations, and at the helm of the Texas FFA is a team of 12 officers representing their respective areas within the Lone Star State. These individuals dedicate a year of their lives as they serve members, provide leadership, and work together with the state staff and board of directors to develop policy and lead the organization of over 177,000 members.

North Texas is represented by Area IV and Area IV, stretching from Wilbarger County to Bell County and from Runnels County to Grayson County. This year, those chosen to lead this great area are State President Isaac Hawkins Jr., Area IV, and State Vice President Weston Parr, Area V.

Parr is from the Sam Rayburn FFA chapter and the Area V Association, but the leader who now serves more than 19,100 members of Area V entered the FFA organization as a shy teenager who sat in the back of the room.

“I didn’t talk to a whole lot of people. I didn’t know what I wanted to do with my life or where I could see myself, so I wasn’t involved on my high school campus,” Parr recalled.

“Then I started FFA and slowly but surely, my ag teachers worked me into attending more contests, meeting new people, and speaking. I remember the first time I gave an officer speech to my chapter. I can still remember how embarrassing it was. To see the progression from that moment to speaking on stage at the state convention in front of thousands of people. Now I feel like I can enter the industry I want and be successful all because of what FFA afforded me for five years.”

There is not much Parr did not do during his time in high school. His contest participation included chapter conducting, wool judging, cotton judging, wildlife, and job interview, but his favorite was extemporaneous speaking, which he did not start until his senior year of high school.

“I wish I could go back to my freshman, sophomore, and junior years and start that sooner. I think if I had more time, I would have been more successful than I already was, but that was something I didn’t realize I liked at the time. I’m not naturally somebody who likes to speak in public, but it was actually my favorite,” Parr said.

Parr won several awards during his time competing. In 2023 alone, Parr earned the Texas FFA Service-Learning Proficiency title, was a National FFA Service-Learning Proficiency finalist, and a Texas FFA Extemporaneous Speaking finalist. In addition to his CDE and LDE events during high school, he showed commercial steers at Houston, and boilers at most major shows, participated in the county show with projects in ag mechanics, showed goats from time to time, and showed heifers until graduation.

“FFA provides invaluable resources and knowledge to be successful once you leave high school and you are out of the blue jacket for the first time. I have been a part of a lot of great organizations over the years, and they are all great in their own way, but in my opinion, FFA is the most successful at producing members of society who want to go and do something with themselves,” Parr said.

He was halfway through his time as Area V Association President and attending the national convention when he began to ponder the idea of running for state office.

“This is around the time when you usually figure out if you want to go through and be a state officer or you decide that area officer is your last run. I was unsure of where I wanted to go, but I knew I didn’t want to be done with FFA. I decided maybe it would be a good opportunity not only for me to make more friendships and connections, but also to give back to the program that allowed me to be able to do what I can do today,” Parr explained.

To read more, pick up a copy of the May issue of NTFR magazine. To subscribe by mail, call 940-872-5922.

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