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Discussion Starter · #1 ·
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
 

· Smilin' Bob
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Anderson paying $700/acre doesn't seem unreasonable to me and the average was only $600/acre.

:smile:
 

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My half brother just purchased 69,000 acres in Wyoming, outside of Thermoplis for $2M - only 2,000 is deeded. I haven't been out there yet, but I think it was pretty much high desert, unfarmable, and supports less than 500 head of cattle.

But he does have good antelope and mule deer populations, but is draw only and his landowner tags are transferable to me.
 

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you couldnt buy an acre on the beach for double that in this town. Sounds like an incredible deal. Acre lots in the outskirts of town go for around 200K.
 

· My Elk Hunting Home
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Almost as cheap as the Cielo Vista Ranch in Colorado when it sold a couple years ago.......70,000 acres for $10 million. That was a steal. Sure wish I had had the $10 mil laying around.:sad:

Or the Forbes Trinchera....175,000 acres for $175 million.
 

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If wishes were fishes I would buy some of that land. I would invite a few of you to hunt also.:smile:
 

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$600.00 acre is way cheap!!! i paid $30,000.00 an acre!:eek:
 

· Corripe Cervisiam
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Heck, I was looking for a good deal in Ks and came across 2 that ended up selling for $1,700 and $1,800 and acre- mostly pasture/timber with little tillable ground
 

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Good one Preyquester. She got the land and you got the shaft? I heard the definition of a Stock Split today.... 'when your ex-wife and her lawyer split your assets equally among themselves'.
Land at $600 an acre in ND, if good crop land, is a great buy. Most folks don't realize that on good prairie wheat ground you can stand on one end and see the tree on the other. If it has some cover, which a lot of ND does then it is a great deal for recreational land. Things are changing on the prairie and farming land is being gobbled up by big city money and being converted to private hunting reserves at an alarming rate. I have family and roots there, and anyone that has ever hunted North Dakota knows what I am talking about. I would guess that there will be at least 39 new "No Hunting" signs, which is their right as new land owners, but not the old ways of the local folks.
 

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Discussion Starter · #16 ·
I received an e-mail today from a college friend who's a hunter and trapper in the Dakotas and he had this to say:

Corn is down to 3.40 a bushell again. I don't say it out loud but I am
glad, maybe they will quit breaking up all the pastures. Somehow the
price of oil and the price of grain have become tied together. When
one goes up, the other seems too. We have lost so much pasture ground
the last couple of years it is scary. It doesn't come back either.
Just to raise another bushell of corn no one needs.

I just thought I'd add that little bit of local sentiment.

Shadow Man
 

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one thing you should understand it was sold in numerous parcels and in our state it cost you big bucks to purchase the MINERAL rights to land,,IE BIG OIL money here the last five years,,I know people that are getting more the $40,000 a month for the oil coming off their land..so u need to add that to the whole picture,,,
 

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ya i wished i owned some land up on the bakken :smile:
 
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