9615 Lynn Creek Rd Brookesville MS Tract
9615 Lynn Creek Rd Brookesville MS Tract Read More »
Beyond the Tangible: Different Layers of Opportunity Costs
It Ain’t Always about the Benjamins
Opportunity cost is a concept deeply rooted in economics, but it touches every facet of our decision-making, both in business and our personal lives. At its core, opportunity cost represents the potential benefit that one misses out on when choosing one alternative over another. It’s not just businesses that benefit from understanding opportunity costs. On a personal level, it’s about realizing that resources, especially time and money, are limited. Every choice we make, consciously or not, involves a trade-off. For example, choosing to live in a bustling city might mean easier access to amenities, job opportunities, and a vibrant social scene. However, it also represents the tranquility, space, and potentially lower living costs one might have enjoyed in a more rural setting. Deciding to take a stable, well-paying corporate job right after graduation might bring financial security and a structured career ladder. Yet, the opportunity cost could be the innovation, diverse tasks, and potential for rapid growth one might find in a startup environment, even if it comes with more risk and uncertainty.
Breaking Down the Concept in Terms of Business and Money
Imagine you have $100. You could either invest it in a business opportunity promising a 10% return or spend it on a new pair of shoes. If you choose the shoes, the opportunity cost is the potential $10 return you would have gotten from the investment. In the business world, understanding opportunity costs is essential for strategy, resource allocation, and prioritization. Before any investment, be it in new equipment, hiring, or R&D, companies often analyze what they might be missing out on. This helps them ensure that their resources are channeled in the direction promising the highest returns. However, this is for business decisions. We are focusing on both business and personal opportunity costs however.
Making Better Decisions
Awareness of opportunity costs can lead to more informed and thoughtful decisions. Here’s how:
List Alternatives: Before making a choice, list down all the viable alternatives. This gives you a clear picture of your options.
Evaluate Potential Benefits: Consider the potential benefits of each option. What will you gain from each choice, both short and long term?
Consider Non-Monetary Factors: Intangibles, like happiness, health, and knowledge, are equally so important.
Stay Updated: The value of alternatives can change. Periodically review your decisions and adapt as necessary.
Accept Imperfection: Sometimes, hindsight will reveal imperfect decisions. Learn from them and move on.
Emotional Well-being and Peace of Mind
Decisions impact our mental and emotional states. Choosing a high-paying job with long hours over a more flexible one might increase stress, reducing time with family and impacting mental well-being.
Learning Experiences and Growth: Opportunity costs also encompass personal growth. Turning down an internship to travel might open doors to unforeseen opportunities or personal insights that professional experiences wouldn’t provide.
Networks and Relationships: In today’s interconnected world, the relationships we foster can be invaluable assets. Choosing to attend a networking event might lead to a partnership, mentorship, or a lifelong friendship.
Legacy and Long-term Impact: Think about the lasting impact of your choices. Choosing a job that aligns with one’s values can lead to a sense of purpose and fulfillment that monetary gains can’t provide.
Conclusion
Opportunity cost definitely extends beyond the tangible. While clear financial or time-related trade-offs are prevalent, the intangibles—those elements that don’t neatly fit into spreadsheets—hold incredible value. This becomes especially clear when we consider the relentless pursuit of monetary gain. In our drive for more, whether it’s a larger paycheck, a grander house, or a fancier car, we often neglect the deeper, intangible rewards that life can offer, such as peace of mind, meaningful relationships, personal growth, and a sense of purpose.
It’s important to remember that there’s always someone who will outpace you in the money game. No matter how hard you work or how much you earn, there will always be someone earning more, or boasting a more impressive title. And while financial stability and comfort are important, making them the sole focus of one’s life can lead to a never-ending cycle of competition and comparison. This game is essentially unwinnable, and the constant chase can make one’s journey miserable full of dissatisfaction and unrest.
It’s a sobering thought, but it’s also liberating. Once we acknowledge the limitations of monetary pursuits, we can shift our focus to other areas of life that offer richer, more enduring rewards. By understanding and respecting the trade-offs inherent in every decision, especially the intangible ones, we position ourselves for a more balanced, fulfilling life
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Green Potential: 7-Acre Hydroponic Farm Gem for Sale in Pontotoc, Mississippi – A Unique Real Estate and Business Opportunity
Welcome to a 7-acre property in Pontotoc, home to St. Bethany Fresh, the largest state-of-the-art, computer-controlled hydroponic farm in the region. This unique property presents an opportunity to not only acquire prime real estate but also a thriving, business with a proven track record. St. Bethany Fresh caters to a diverse clientele ranging from the general public to various institutions such as hospitals, schools, restaurants, and grocery stores, delivering fresh, locally-grown produce throughout the year. The facility is renowned for its outstanding selection of healthy and delectable black cherry, sun gold cherry, red grape, and heirloom tomatoes. They are grown without the use of chemical pesticides. The farm is recognized for its cutting-edge water conservation system, which operates at just 1/20th of the water consumption of traditional irrigation systems. This level of efficiency is achieved through the implementation of advanced reverse osmosis technology, purifying the water before it nourishes the roots of the plants.
Despite housing the largest hydroponic farm in Mississippi, this parcel of land also offers plenty of room for expansion. Whether your vision includes building your dream home or growing the facility, this property provides ample space to bring your aspirations to life. All info is subject to verification.
Link to website 
http://stbethanyfresh.com/index.php/location-map https://www.flexmls.com/…/899-Kings-Hwy-Pontotoc-MS-38863
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Diverse Woodland, Trails & Turkey Hunting — Uncover Serenity in Wilderness Retreat in Ashland, Mississippi
Located just 1.5 miles from Ashland, and a few miles from Holly Springs National Forest, the terrain features rolling topography with good mix of hard and softwoods, approximately 8 years old. The land also features an existing trail system, which could be useful for various outdoor activities. Whether you enjoy riding ATVs, hiking, or simply walking in nature, this tract is ideal. Ashland is recognized as a hotspot for turkey hunting in MS and turkey tracks are plentiful. Rhoden Creek runs along the west side of the property, adding to its appeal. This tract could be an engaging space for recreational activities, a serene place for a home, or even a quiet retreat away from the city. All info is subject to verification.
Call or text 662-523-4603 for a showing!
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Multi-use Land Opportunity: Ideal for Commercial, Residential, and Agricultural Development on Hwy 45 in Nettleton, MS
Multi-use Land Opportunity: Ideal for Commercial, Residential, and Agricultural Development on Hwy 45 in Nettleton, MS
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Looking for an ideal location for a business or dream home? We present a unique opportunity: three parcels zoned for commercial, residential and agricultural use. Fronting Hwy 45 and Old 45 with over 2000 ft of road frontage, the 17-acre commercial tract offers high visibility and potential for diverse uses. A stone’s throw from Nettleton, perfect for local and pass-through traffic. The 10-acre residential parcel presents an opportunity for those desiring to build a home, with around 1900 ft of road frontage that extends to both W Main St and Hwy 45, and a good mixture of hard and softwoods, this tract merges the possibilities of convenience of town living while maintaining a sense of comforting rural surroundings. Lastly, a 1.60-acre tract zoned agriculture use further expands possibilities!
All info is subject to verification. Taxes shown are for parent parcels, not exact totals.
Contact me for a showing today! 662-523-4603
662-523-4603
The Evolution of the Pulpwood Industry in Mississippi
The Evolution of the Pulpwood Industry in Mississippi and Prices
Mississippi, endowed with abundant fertile forests, holds a significant place in America’s pulpwood industry. The industry has witnessed a roller-coaster ride of stumpage and pulpwood prices over the years. The mid-20th century saw a surge in the pulpwood industry in Mississippi due to the construction of numerous pulp and paper mills, leading to increased pulpwood demand. However, the advent of the 21st century brought along technological advancements and imported pulpwood, unsettling the market, causing price fluctuations for stumpage and pulpwood per ton. Lets discuss what these terms mean.
When we talk about a ‘cord’, it refers to a specific forestry measurement which equals a stack of wood 4 feet high, 4 feet wide, and 8 feet long, often used for firewood. ‘Price per ton’ reflects the cost per ton of pulpwood, a type of timber primarily used for paper manufacturing. Factors such as the timber’s quality, tree species, demand, and accessibility significantly influence the price per ton of pulpwood.
Now, let’s get into some calculations. Imagine you have a 100-acre forest that generates 3.2 tons of timber per acre each year, of which 37.5% is pulpwood. Therefore, each acre produces 1.2 tons of pulpwood annually (3.2 tons x 37.5%). Over your entire 100-acre forest, that amounts to 120 tons of pulpwood each year (1.2 tons per acre x 100 acres).
If the stumpage price, which is the amount a landowner is paid for standing timber, is $2.00 per ton, then the total value of your pulpwood each year would be $240 (120 tons x $2.00 per ton).
Next, let’s convert this to cords. A cord of wood typically weighs around 2 tons. Therefore, the 120 tons of pulpwood you’re producing each year equates to approximately 60 cords of pulpwood (120 tons ÷ 2 tons per cord). With the stumpage price of $2.00 per ton, each cord is worth approximately $4.00 ($2.00 per ton x 2 tons per cord). So, the total annual value of your pulpwood, if measured in cords, would still be $240 (60 cords x $4.00 per cord).
In conclusion, the value of the pulpwood you can harvest from your 100-acre forest, whether calculated in tons or cords, comes out to be the same at $240 per year at the current stumpage price of $2.00 per ton. This underlines the importance of understanding and correctly using forestry measurements in the timber industry.
Today, in the mid-2020s, the pulpwood industry in Mississippi continues to evolve. The proliferation of digital technology has led to a decline in paper products, thereby reducing pulpwood demand. Despite the diminished demand, Mississippi’s forests continue to produce a substantial amount of pulpwood, leading to an oversupply and putting downward pressure on stumpage and pulpwood prices per ton. The industry is navigating this scenario by exploring new pulpwood applications, such as bioenergy production, particularly in the form of wood pellets for energy.
Despite the challenges, Mississippi’s pulpwood future appears promising due to its potential to leverage its rich forest resources for innovation and adaptability. While traditional pulpwood usage for paper production might be dwindling, burgeoning markets like bioenergy and engineered wood products could open new avenues for growth. Thus, the pulpwood industry in Mississippi is in a constant state of flux, faced with challenges, yet its rich history and potential for innovation and new opportunities.
Factors Influencing Paper-Making Wood Prices in Southern US
Understanding the influence of roundwood pulpwood supply and demand on its pricing is complex, primarily due to the availability of sawmill leftover chips as an alternative. The recent decade’s lumber production surge in the south has increased leftover chip production, helping maintain roundwood pulpwood prices stability. A thorough understanding of pulpwood pricing complexities can help decipher pricing trends.
Between 2015 and 2019, most southern region states experienced relatively minor changes (less than 10%) in pulpwood demand and its pricing. However, Alabama, Arkansas, Mississippi, and North Carolina deviated from this pattern. In these states, prices fell despite a slight drop in demand, or demand outpaced price increases. From 2019 to 2022, pulpwood prices soared by 10% or more in three states, with only Alabama witnessing a corresponding demand increase.
Comparing demand changes with pulpwood price changes from 2019 to 2022 reveals less correlation between price responses and demand changes. Contrarily, many states exhibit a negative relationship with demand. Unlike the more direct relationship between sawlog demand and prices, pulpwood prices are influenced by by factors like leftover chips, demand for oriented strand board, wood pellets, and pulp markets and exports.
Understanding Tree and Lumber Market Mechanisms
The tree and lumber markets operate differently, influenced by distinct pricing trend factors. Trade volumes, supply conditions, and demand factors play pivotal roles. Lumber, a heavily traded product, is highly susceptible to daily events, resulting in frequent, sometimes unpredictable price changes. The tree market is less reactive to daily events, with tree prices being more affected by long-term trends such as forest growth rates, harvesting costs, and overall timber product demand.
By mid-2021, this trend seemed to be shifting. Despite economic uncertainties, the robust housing market required substantial lumber, reflecting high demand in southern sawtimber prices, which peaked to a 14-year high. However, 2022 witnessed a decline, and by 2023, lumber prices bottomed out due to a decrease in new construction. The National Association of Home Builders predicts a decrease in housing starts to approximately 744,000 single-family homes in 2023, as builders continue to cut back despite a housing shortage.
The below chart is a current snapshot of lumber prices USD/1000 Board Ft
Pulpwood prices at end of 2002 below
During a housing boom, the demand for various timber products, including pulpwood, generally increases. This is because a surge in housing construction requires more raw materials, including timber for construction and pulpwood for paper-based products such as wallpaper, insulation, and cardboard used in packaging. When demand increases, it can lead to a rise in pulpwood prices as suppliers try to meet the greater need for their products.
However, the relationship between a housing boom and pulpwood prices isn’t as direct as with other timber products. This is mainly because the primary use of pulpwood is for paper products, not directly for construction. While certain types of timber such as sawlogs are directly used in housebuilding, leading to a more immediate and significant price impact during a housing surge, pulpwood doesn’t experience the same level of price fluctuation. The price of pulpwood is more influenced by the demand for paper products, which can be affected by a variety of factors, including digitalization trends, recycling rates, and global market dynamics.
Despite this, it’s important to note that a housing boom can indirectly affect pulpwood prices. For instance, increased construction activity can lead to a greater need for packaging materials, which are often made from pulpwood. This can result in a modest increase in pulpwood prices, even though the effect may not be as pronounced or immediate as it is for timber directly used in construction. So, while pulpwood prices may see some increase during a housing boom, they are somewhat separate from the direct influence of housing construction compared to other timber products.
Emerging Markets: Bioenergy and Engineered Wood Products
Pulpwood in Mississippi is finding new uses beyond traditional paper production, with its conversion into wood pellets for bioenergy production being one of the most significant. As the world shifts towards renewable energy sources, the demand for biomass in the form of wood pellets is growing, creating a new market for pulpwood growers. Mississippi’s location, near the Gulf of Mexico, provides a logistical advantage for shipping wood pellets to Europe, where the demand for bioenergy is particularly high. This emerging market could potentially counterbalance the declining demand for pulpwood for paper production.
Future Pathways: Forestland Investment and Forest Management
While the forest products market dynamics continuously shift, some trends can guide investors and managers to anticipate market changes.
- Climate Change and Forest Management: Climate change increasingly impacts the forest products market. Changes in weather patterns can affect forest growth rates and pest and disease occurrences, influencing timber production and prices. Additionally, growing interest in forests as carbon sinks could create new markets for forest carbon credits.
- Technological Innovations: Technological breakthroughs in remote sensing and data analysis are revolutionizing forest management. These technologies can enhance forest inventory data, optimize harvest operations, and improve supply chain efficiency, leading to higher profits for forestland owners and managers.
- Shifting Demand Patterns: Demand for forest products can fluctuate due to factors like population growth, economic conditions, and consumer preferences. For instance, there is a rising demand for sustainable and renewable forest products, which can create new opportunities for forestland owners and managers.
- Investment Trends: The timberland investment landscape is also evolving. While institutional investors have historically dominated the timberland investment space, there is growing interest from individual investors and family offices, which could alter timberland investment structures and management.
Resources and Links
- US Forest Service – This federal agency provides a wealth of information on forests and forestry in the United States, including research, statistics, and resources on sustainable forest management. US Forest Service
- Mississippi State University Extension Service – This extension service offers resources and educational programs on forest and wildlife resources in Mississippi. MSU Extension
- National Association of Home Builders – This trade association provides data and forecasts on the housing market in the United States, which can affect demand for lumber and timber products. NAHB
- Timberland Investment Resources, LLC – This company offers information and services related to timberland investment. They also provide a blog that covers various aspects of investing in timberland. Timberland Investment Resources
- The Forest History Society – This organization offers a wide range of resources on the history of forests and forestry, including the evolution of the timber industry and forest management practices. The Forest History Society
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Sow Kudzu, Sow Prosperity | History and Impact of Kudzu Cultivation
The Champion of the Kudzu Cause: Channing Cope
Enter the story of Channing Cope. Operating out of Covington, Georgia, Cope had access to the airwaves that reached farmers across the South. He cleverly used this platform to become the champion of the ‘kudzu cause’, passionately advocating its benefits for soil conservation. Through his radio show and his column in The Atlanta Constitution, he spread the gospel of kudzu so extensively, one could almost see the vine growing in his listeners’ minds.
The Journey of Kudzu: From Panacea to Nemesis
The journey of kudzu began in 1876 when it was imported from Japan for the Philadelphia Centennial Exposition. Its rapid growth and attractive blossoms soon caught people’s attention. However, during the 1930s’ Dust Bowl, this fast-growing vine was seen as a panacea for soil erosion. The U.S. Soil Erosion Service even endorsed the widespread planting of kudzu. Little did they realize that this “miracle vine” would soon become the South’s nemesis. Together with Channing Cope, they unknowingly laid the groundwork for the green monster that kudzu would become.
The Kudzu Club of America and the Growth of a Green Monster
In the 1940s, Cope even kicked off the “Kudzu Club of America,” amassing over 20,000 members. The club’s motto was as simple: “Sow kudzu, sow prosperity.” It was the perfect jingle for the times, dovetailing with the U.S. government’s promotion of kudzu. But our friend Cope, couldn’t see the future repercussions of his campaign. The vine, no longer held back by the natural checks and balances of its native environment, went to town. It smothered native plants, gave trees the ‘kudzu hug of death’, and draped over homes and buildings like a tacky green Christmas decoration. By the time scientists stepped in to say, “Hey, um, we might have a kudzu problem,” the vine had taken root in every sense of the word.
The Lessons from Kudzu: Consider the Consequences
This should remind us of the importance of pausing to consider the possible fallout before introducing a new species into an environment. It also serves as a lesson in the power of media and popular figures in shaping public opinion and actions. Channing Cope’s legacy and story is a testament to our complicated relationship with this plant and a reminder that even the best intentions can sometimes lead us down a garden path…to a whole lot of kudzu.
Kudzu: An Emblem of Southern Grit and Adaptability
Folks born and raised in the south have become intimately familiar with the relentless expansion of this vine. This robust plant, while not native, has become an emblem of Southern grit and adaptability. It’s etched itself into our narrative and is part of our story. Today, we’re still wrestling with the aftermath of this “vine that swallowed the South”.
Applying Herbicides: Techniques and Timing
One method to control kudzu is through chemical intervention. Herbicides such as glyphosate and triclopyr have proven to be efficacious, but they demand careful application The application can be executed using various techniques, like backpack sprayers for smaller infestations or truck-mounted sprayers for larger tracts. For extensive kudzu fields, aerial spraying utilizing drones or helicopters can be employed, albeit requiring special permissions and expertise. The optimal time for spraying is late summer or early autumn when the kudzu is storing nutrients for the winter. The procedure involves spraying the plant’s leaves and letting the herbicide travel to the roots. This process may need repetition over two to three years to ensure the kudzu’s complete eradication.
Prescribed Burning: An Effective Tandem Method
Prescribed burning is another method that, combined with herbicide application, can yield high effectiveness. However, it’s important to note that burning alone will not eliminate kudzu, given the plant’s extensive root system that enables it to regenerate. Burning should be used in tandem with herbicides for it to be effective, and it should always be conducted by professionals trained in fire management.
Herbicides and Burning: A Strategic Combination
When employing a combination of herbicides and prescribed burning, you first apply the herbicide, wait for the kudzu to wither (which may take several weeks to a couple of months), and then initiate the burn. This ensures that the chemical has had enough time to reach the root system, and the fire is more effective in clearing the dead kudzu.
Kudzu’s Winning Strategy and Growth Mechanism: Sunlight, Photosynthesis, and Runners
Kudzu doesn’t strangle its plant rivals. No, it’s more subtle. It simply smothers them under a thick cover of leaves, effectively blocking out sunlight. Kudzu’s winning strategy against other plants boils down to a few factors. Firstly, it has a massive amount of leaf surface area relative to its structural parts, meaning it can soak up a lot of sunlight. Secondly, it’s a pro at photosynthesis, turning sunlight into energy with impressive efficiency. Lastly, its leaves adjust their position throughout the day to ensure lower leaves get enough sun and upper leaves don’t get too toasty.
Spreading kudzu seeds isn’t its style. Instead, it grows by sending out runners that put down roots at different points. These new roots can grow into large tubers that can resist herbicide treatments for many years.
The Financial Impact of Kudzu: A Nightmare for Industry
Financially, kudzu is a nightmare. It reduces the worth and quantity of timber. Currently, kudzu blankets over seven million acres across the U.S. and is expanding at a rate of about 120,000 acres annually. U.S. data shows that kudzu inflicts economic damage to the tune of $100 million each year. This includes the productivity losses in forestry, power and railroad companies, national and state parks, and agricultural lands, as well as the increased costs for managing and maintaining kudzu-infested areas. Forestry companies usually shell out about $500 per acre each year to control kudzu. Power companies fork over around $1.5 million per year to manage kudzu issues and offset power loss.
Cost of Kudzu Extermination: A Pricey Battle
Now, onto the cost of kudzu extermination. It can vary depending on the size of the infestation, the terrain, and the specific methods used. But on average, you can expect to spend between $100 to $400 per acre per year for a chemical treatment. This sum includes the cost of the herbicides and the labor to apply them. Over a three-year period, typically the minimum time required to ensure total eradication, this equates to a range of $300 to $1,200 per acre.
The Cost of Prescribed Burns: An Additional Expense
The cost of prescribed burns can also fluctuate based on local regulations, labor costs, and the need for repeat burns. However, you can anticipate spending roughly $50 to $200 per acre for each burn. If you conduct this annually for three years, that’s an additional $150 to $600 per acre.
The Kudzu Story: A Cautionary Tale
And so, that’s the story of how kudzu went from being the next big thing in soil conservation to the uninvited guest that won’t leave the party even after it’s over. It’s a classic tale of “be careful what you wish for.” We wanted a quick fix for soil erosion, and boy, did we get it.
Links and Resources: Learning More about Kudzu
- The Kudzu Plant: Profile of an Invasive Vine – National Park Service’s detailed article on Kudzu, its characteristics, and its impact on the environment. http://www.nps.gov/articles/kudzu.htm
- Invasive Species: Kudzu – Information about Kudzu from the U.S. government’s National Invasive Species Information Center. http://www.invasivespeciesinfo.gov/profile/kudzu
- The Economic Impact of Kudzu – An academic study on the economic consequences of Kudzu infestation, available through JSTOR. http://www.jstor.org/stable/10.2307/12345678
- Methods for Controlling Kudzu – USDA Forest Service’s guide on various methods for controlling and eradicating Kudzu. http://www.fs.fed.us/research/invasive-species/plants/kudzu.php
- Kudzu in Georgia: History, Uses, and Control – A comprehensive resource from the University of Georgia Extension detailing the history of Kudzu in Georgia and methods for its control.
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North Mississippi Market Analysis and Land Trends
North Mississippi Current Land Trends
The Price Per Acre by Land Type and Average Price per Acre Graph in the lower left corner demonstrates that land value is closely linked to its location. However, there are observable differences in price per acre across various land types. Agricultural land, for example, has a high correlation with its size, although prime agricultural land tends to be situated in outlying areas of towns that are in higher demand. This can be attributed, in part, to the tendency for towns to be built on flat terrain with soils that favor prime farmland. Furthermore, topography is typically associated with agricultural land, although there are exceptions to this rule.
In the upcoming study, the correlation between counties, acreage, area, and price per acre will be further analyzed. It has been observed that the diminished returns for larger acreage apply to all of these categories, unless the property is located in a prime area. It is worth noting that the value of cleared land has increased over the past few years.
Further analysis of the land sales is broken down by features, which can be quite detailed and time-consuming to identify correlations and trends. If you enjoy solving puzzles, this task may be a fun challenge for you!
Analysis Of the Broader Land Market
Market Analysis of Lots Between 30-50 acres
This market analysis includes an inventory analysis covering the prior 7-12 months, prior 4-6 months, and current 3 months. It is important to keep in mind that the next to brief market analysis provides a general overview of the North MS Board of Realtors Land market, and that other factors such as property type, location, and features should also be taken into consideration when making specific evaluations or decisions. However, based on the data presented in the analysis, certain conclusions can be drawn regarding the supply and demand factors affecting land in similar acreage ranges.
Over the past 7-12 months, there were a total of 22 comparable sales (settled), resulting in an absorption rate of 3.67 sales per month. For the prior 4-6 months, there were 8 comparable sales and an absorption rate of 2.67 sales per month. For the current 3 months, there have been 7 comparable sales and an absorption rate of 2.33 sales per month.
There were 18 active listings as of September 21, 2022, 23 active listings as of December 21, 2022, and 25 active listings as of March 22, 2023. Based on the absorption rate, this corresponds to a months of housing supply of 4.9 months, 8.61 months, and 10.73 months, respectively.
Regarding median sale and list prices, as well as days on market and sale-to-list price ratios, there were some fluctuations across the different time periods. The median comparable sale price over the past 7-12 months was $111,250, while the median comparable sale price for the prior 4-6 months was $94,800. In the current 3 months, the median comparable sale price was $98,000. The median comparable sales days on market (DOM) for the prior 7-12 months was 98 days, while for the prior 4-6 months it was 125 days, and for the current 3 months it was 63 days.
The median comparable list price for the prior 7-12 months was $167,500, and for the prior 4-6 months it was $182,500. In the current 3 months, the median comparable list price was $225,000. The median comparable listings DOM for the prior 7-12 months was 273 days, for the prior 4-6 months it was 200.5 days, and for the current 3 months it was 170 days.
Finally, the median sale price as a percentage of the list price was 94.00% for the prior 7-12 months, 78.00% for the prior 4-6 months, and (data missing) for the current 3 months
Market Analysis of Lots Between 10-20 acres
This market analysis presents an inventory analysis for the prior 7-12 months, prior 4-6 months, and current 3 months. During the prior 7-12 months, there were 25 comparable sales (settled) with an absorption rate of 4.17 sales per month. During the prior 4-6 months, there were 17 comparable sales with an absorption rate of 5.67 sales per month. During the current 3 months, there have been 7 comparable sales with an absorption rate of 2.33 sales per month.
The total number of active listings was 34 as of September 21, 2022, 50 as of December 21, 2022, and 73 as of March 22, 2023. Based on the absorption rate, the corresponding months of housing supply were 8.15 months, 8.82 months, and 31.33 months, respectively.
Regarding median sale and list prices, days on market, and sale-to-list price ratios, there were some fluctuations across the different time periods. The median comparable sale price for the prior 7-12 months was $85,000, while for the prior 4-6 months it was $51,000, and for the current 3 months it was $60,921. The median comparable sales days on market for the prior 7-12 months was 65 days, while for the prior 4-6 months it was 51 days, and for the current 3 months it was 253 days.
The median comparable list price for the prior 7-12 months was $107,450, while for the prior 4-6 months it was $99,450, and for the current 3 months it was $99,500. The median comparable listings days on market for the prior 7-12 months was 324 days, while for the prior 4-6 months it was 262 days, and for the current 3 months it was 106 days.
Finally, the median sale price as a percentage of the list price was 88.00% for the prior 7-12 months, 94.00% for the prior 4-6 months, and 90.00% for the current 3 months.
Expired Listings Between 30-50 Acres
The massive amount of expired listings in this market analysis is likely a result of overpricing. As seen in the data, there were 573 listings that expired without being sold, which is a significant number compared to the number of active, pending, and closed listings.
The average list price of the expired listings is $253,309, with a median price of $119,000 and a high of $8,500,000. The average days on the market for these listings is 360 days, which is significantly higher than the average days on the market for active and pending listings. This indicates that these listings may have been overpriced, which resulted in them not being sold within a reasonable time frame.
On the other hand, the closed listings have an average sale price of $157,108, with a median price of $114,900 and a high of $1,850,000. The sale-to-list price ratio for these listings is 0.90, which is relatively close to the asking price. Additionally, the average days on the market for closed listings are 133 days, which is significantly lower than the average days on the market for expired listings.
Overall, this analysis suggests that overpricing is a significant factor in the high number of expired listings. It is important for sellers to work with a real estate agent who can provide a realistic and accurate valuation
MUCH MORE TO COME!
There is much more to come, so please be sure to follow me on the website and social media for the latest updates. If you’re looking for a customized consultation that specifically fits your needs, feel free to contact me via phone or text 662-523-4603, or email ssparks@wesleywebb.com at any time to schedule an appointment. Thank you for taking the time to read this!
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Comprehensive Marketing Strategy for Selling Land, Commercial and Residential Real Estate
With a free estimate of value from a state-certified real estate appraiser, my plan provides a straightforward and honest estimate of your property’s value. That’s the first step. Included is a comprehensive and customized marketing strategy. By targeting the right audience, utilizing multiple marketing channels, and adjusting our strategies based on performance data and feedback, we are confident that we can achieve a successful sale of your land.
Step 1: Free Estimate of Land Value by a State Certified Real Estate Appraiser
- Marketing time: The estimated duration it will take to sell the property, taking into account current market conditions and trends.
- List-to-sale price ratio: The anticipated ratio between the listing price and the final sale price, which can help you set a competitive listing price that reflects the property’s true value.
- Key metrics: Some other crucial metrics to consider when evaluating your property’s value include:
- Comparable land sales: Analyzing recent sales of similar properties in the area to gauge market value.
- Property features and improvements: Evaluating any existing infrastructure, such as roads, fencing, or irrigation systems, that may impact the land’s value.
- Location and accessibility: Considering the property’s proximity to amenities, schools, and major transportation routes.
- Zoning and land use potential: Assessing how the land’s zoning and potential uses could impact its value and appeal to potential buyers.
Step 2: Target Audience Based on the property’s features and zoning, our target audience includes:
- Land buyers interested in recreational or hunting properties: If the property has features such as forests, water sources, or wildlife habitats, it may be appealing to buyers seeking land for recreational purposes or hunting. I will showcase the property’s natural resources, recreational opportunities, and the abundance of local wildlife to attract buyers interested in using the land for hunting, fishing, or other outdoor activities.
- Local farmers looking to expand their operations: Your property’s size and agricultural zoning make it an attractive option for farmers in the area seeking additional land to grow their businesses. I will emphasize the fertility of the soil, water availability, and any existing infrastructure, such as barns or irrigation systems, to appeal to this audience.
- Timber investors seeking land for forestry or timber production: If your property has significant forested areas or a variety of tree species suitable for timber production, it may be attractive to timber investors or companies involved in the forestry industry. I will emphasize the property’s timber resources, forest management potential, and any existing timber inventory data or growth projections to appeal to this audience.
- Families interested in building a custom home with ample space for recreation: With its size and scenic surroundings, your property is an ideal choice for families who want to build a custom home with plenty of space for outdoor activities. I will showcase the property’s privacy, natural beauty, and accessibility to nearby schools, shopping, and recreation facilities to appeal to these buyers.
- Hobby farmers or homesteaders seeking a self-sustainable lifestyle: Your property’s size and fertile land make it an ideal choice for individuals or families interested in pursuing a self-sustainable lifestyle by growing their own produce, raising livestock, or starting a small-scale farm. I will emphasize the property’s agricultural potential, water sources, and suitability for various types of crops and animals.
- Entrepreneurs looking for land for commercial purposes: The property’s location and potential for commercial zoning could attract entrepreneurs or small business owners interested in establishing businesses such as campgrounds, wedding venues, vineyards, or agritourism enterprises. I will showcase the property’s accessibility, visibility, and potential for commercial development.
- Investors searching for land with appreciation potential: The property’s location and future development possibilities make it appealing to investors seeking long-term value appreciation. I will focus on the potential for rezoning, nearby infrastructure projects, and growth trends in the region to attract investors interested in land banking or strategic land investments.
- Equestrian enthusiasts seeking land for horse facilities: Your property’s size, terrain, and accessibility make it an excellent option for those looking to establish an equestrian facility, such as a horse farm, training center, or riding school. I will emphasize the potential for building stables, paddocks, and riding arenas, as well as the property’s proximity to riding trails and equestrian communities.
- Non-profit organizations or community groups: The property’s location, size, and zoning could make it attractive to non-profit organizations or community groups looking to establish retreat centers, educational facilities, or other community-focused projects. We will highlight the property’s potential for development, proximity to local resources, and any available grants or incentives for community-oriented projects.
- Conservation organizations or nature lovers: If the property has unique ecological features, such as wetlands, forests, or wildlife habitats, it may be of interest to conservation organizations or individuals passionate about preserving natural areas. I will highlight the property’s ecological value, biodiversity, and potential for conservation easements or stewardship programs.
- Renewable energy companies seeking land for solar or wind projects: If the property has suitable topography, solar exposure, or wind.
Step 3: Property Presentation I will create a professional and compelling property presentation that includes:
- A detailed written description highlighting key features, such as the land’s size, location, zoning, access, and utilities.
- High-quality photographs showcasing the property’s terrain, views, and surrounding area.
- A drone video tour to provide a unique perspective of the property.
- Property boundary maps and any relevant documentation (e.g., land surveys, environmental reports).
Step 4: Online Marketing Channels Our online marketing strategy will utilize the following channels:
- Our company website: I will feature your property on our homepage, Wesley Webb Real Estate | Real Estate Professionals for Existing Homes, New Construction, Land (wwebbms.com), with a dedicated listing page containing the property presentation, photos, and contact information. I will also list the property on own personal website Home – Steven Sparks | Wesley Webb Real Estate (sparkslandandcommercialproperties.com) that includes IDX. It enables me to provide up-to-date and accurate property information to my clients and helps me attract more potential buyers by providing a wider range of listings. Follow my blog – Blog – Steven Sparks | Wesley Webb Real Estate (sparkslandandcommercialproperties.com).
- Social media platforms: We will create targeted posts on Facebook, Instagram, Twitter, and LinkedIn, sharing the property presentation, photos, and video tours.
- Real estate websites and land-specific listing services: Your property will be listed on popular platforms such as , our Multiple Listing Services, Land and Farm, Zillow, LandWatch, and Lands of America, Loopnet and more.
- Targeted Google Ads and Facebook Ads campaigns: We will create ads specifically designed to reach our target audience in the local area and surrounding regions.
Step 5: Print Advertising and Local Promotion Our print advertising and local promotion efforts will include:
- Full-page ads in local newspapers, real estate magazines, and agricultural publications.
- Professionally designed brochures and flyers, distributed at local businesses, community centers, and farmers’ markets.
- Eye-catching yard signs placed on the property to draw attention from passersby.
Step 6: Networking and Industry Connections We will leverage our professional network to promote your property
by:
- Informing local land brokers, real estate agents, and developers about the property and its potential uses.
- Participating in industry events, conferences, and local networking meetings to showcase the property and connect with potential buyers.
Step 7: Property Tours: By request, I will organize guided property tours by:
- Scheduling appointments: Arranging convenient times for interested parties to visit the property, ensuring that the tour accommodates their schedule and preferences.
- Preparing the property: Prior to the tour, I will make sure that the property is presentable and that any important features are easily accessible and visible to potential buyers. This may involve highlighting marking boundaries, or highlighting key points of interest.
- Personalized on-site tours: I will personally accompany potential buyers on a tour of the property, providing them with detailed information about the land, its features for the use the buyer is looking for, and any development potential. I will also answer any questions and address any concerns they may have during the tour.
- Virtual tours (if applicable): In addition to in-person tours, I can offer virtual tours through video calls, pre-recorded video walk-throughs, or interactive 360-degree virtual tours. This option allows interested parties who cannot visit the property in person to explore the land remotely and get a sense of its features and potential.
- Providing follow-up information: After the tour, I will provide potential buyers with any additional information or documentation they may require, such as property surveys, environmental reports, or zoning regulations. I will also follow up with them to gauge their interest, gather feedback, and address any further questions or concerns they may have.
Step 8: Direct Mail Campaign We will design and execute a targeted direct mail campaign by:
- Creating a mailing list of potential buyers based on our target audience, including local farmers, hunters, developers, commercial buying prospects etc. and families looking for land
- Sending personalized postcards featuring property photos, key features, and an invitation to private property tours.
Step 9: Monitoring and Adjusting Marketing Efforts – I will regularly review and adjust our marketing strategies by:
- Tracking metrics, such as website traffic, listing views, inquiries and more.
- Adjusting our marketing plan based on performance data to optimize results and ensure that we’re reaching the right target audience effectively: Using the data gathered through tracking, feedback, and market research, we will make informed decisions to adjust our marketing plan as needed.
Step 10: Client Communication and Updates Maintaining open communication with you, our client, is essential. I will provide regular updates on our marketing efforts by:
- Scheduling bi-weekly or monthly calls to discuss the progress of our marketing plan, including inquiries, property showings, and any potential offers.
- Providing detailed reports on the performance of our marketing strategies, including website traffic, social media engagement, and ad campaign results.
- Updating you on any changes in the local real estate market or relevant news that may impact the sale of your property.
Step 11: Feedback from Potential Buyers Collecting and utilizing feedback from potential buyers is crucial in refining our marketing efforts. I will:
- Follow up with potential buyers and attendees of property tours to gather their feedback and impressions of the property.
- Use this feedback to adjust our property presentation, pricing strategy, or marketing efforts, if necessary, to make the property more attractive to our target audience.
Step 11: Offer Negotiation and Closing Support Our goal is not only to market your property effectively but also to secure the best possible deal for you. I will:
- Review all offers received and provide guidance on their pros and cons, helping you make an informed decision
- Negotiate on your behalf to secure the most favorable terms and conditions for the sale of your property
- Coordinate with all involved parties, including attorneys, title companies, and lenders, to ensure a smooth closing process
Conclusion: My comprehensive and customized marketing plan is designed to sell your property quickly and for the best possible price. By targeting the right audience, utilizing multiple marketing channels, and adjusting our strategies based on performance data and feedback, I am confident that we can achieve a successful sale of your land. I look forward to working with you and guiding you through this process.