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Just saw the results of a major land sale in North Dakota. They got more money for the sale than they expected. Some guy from LOS ANGELES bought a lot of it. Go figure.
You'd think with the economic crisis in our country that land prices would return to some semblance of normalcy, but that sure isn't the case. I guess folks have figured out that land prices are a lot less volatile than the stock market.
Anyway, it's an interesting read and a good lesson for those us us without wills.
Bachelor's Land Auction Brings $10 million
BISMARCK, N.D. – Caring for his brother, his mother and his cows left Walter Holzworth no time for marriage or a vacation. Instead, his friends and neighbors say, he spent his life working and quietly acquiring land in the county where he was born.
The 79-year-old bachelor rancher, who died in November 2007, amassed 16,626 acres – or more than 26 square miles – of fertile crop and pasture land in northwest Stutsman County, in central North Dakota.
On Tuesday, Holzworth’s land was auctioned, drawing more than 500 people from around the country to the Jamestown Civic Center. The land was sold in 39 parcels and fetched more than $10 million from local and out-of-state buyers, said Noel Johnson, the county’s tax director and chief operating officer.
County officials and auctioneers said it was the biggest land auction ever in the county, and possibly the state.
“He was an old cattleman, who ran several thousand head of cattle in his day,” Johnson said. “For him to have amassed 106 quarters of land in a lifetime, that’s pretty amazing.
“I can’t recall anything this large up for auction – 26 square miles is a huge chunk of land,” Johnson said.
Ken Dalsted, an attorney for Holzworth’s estate, said Holzworth didn’t have a will even though he was prodded by bankers, accountants, lawyers and family for years to have one.
“Everybody who ever dealt with him urged him to get a will,” Dalsted said. “Why he didn’t, I don’t know.”
Dalsted said Holzworth’s land was sold to Tuesday about 15 different buyers and fetched more money than estimated.
“It exceeded our appraised value, so it shows that the economy is alive and well in North Dakota, or at least here in Stutsman County,” Dalsted said.
Jay Anderson, of Los Angeles, was among the biggest buyer’s at the auction. Anderson said he spent $2.8 million for 4,000 acres that surround his late grandfather’s homestead farm.
Shadow Man
You'd think with the economic crisis in our country that land prices would return to some semblance of normalcy, but that sure isn't the case. I guess folks have figured out that land prices are a lot less volatile than the stock market.
Anyway, it's an interesting read and a good lesson for those us us without wills.
Bachelor's Land Auction Brings $10 million
BISMARCK, N.D. – Caring for his brother, his mother and his cows left Walter Holzworth no time for marriage or a vacation. Instead, his friends and neighbors say, he spent his life working and quietly acquiring land in the county where he was born.
The 79-year-old bachelor rancher, who died in November 2007, amassed 16,626 acres – or more than 26 square miles – of fertile crop and pasture land in northwest Stutsman County, in central North Dakota.
On Tuesday, Holzworth’s land was auctioned, drawing more than 500 people from around the country to the Jamestown Civic Center. The land was sold in 39 parcels and fetched more than $10 million from local and out-of-state buyers, said Noel Johnson, the county’s tax director and chief operating officer.
County officials and auctioneers said it was the biggest land auction ever in the county, and possibly the state.
“He was an old cattleman, who ran several thousand head of cattle in his day,” Johnson said. “For him to have amassed 106 quarters of land in a lifetime, that’s pretty amazing.
“I can’t recall anything this large up for auction – 26 square miles is a huge chunk of land,” Johnson said.
Ken Dalsted, an attorney for Holzworth’s estate, said Holzworth didn’t have a will even though he was prodded by bankers, accountants, lawyers and family for years to have one.
“Everybody who ever dealt with him urged him to get a will,” Dalsted said. “Why he didn’t, I don’t know.”
Dalsted said Holzworth’s land was sold to Tuesday about 15 different buyers and fetched more money than estimated.
“It exceeded our appraised value, so it shows that the economy is alive and well in North Dakota, or at least here in Stutsman County,” Dalsted said.
Jay Anderson, of Los Angeles, was among the biggest buyer’s at the auction. Anderson said he spent $2.8 million for 4,000 acres that surround his late grandfather’s homestead farm.
Shadow Man
