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Is this ranch price realistic? (Lampasas County)

4,717 Views | 13 Replies | Last: 3 yr ago by Leander - Ag
thejavelina
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2:17p, 5/26/22
Ranch for sale in eastern Lampasas County on highway 190. 179 acres listed for $4,475,000 ($25,000 an acre). Listing can be viewed here: https://*******.com/wbk2fmmx

My question is this price realistic? It seems grossly overpriced to me, but wondering is any real estate pros have an opinion. Asking because I own a very similar property nearby.

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thejavelina
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2:19p, 5/26/22
Looks like link doesn't work. Here's one that hopefully does:

https://www.landsoftexas.com/property/9541-U.S.-Hwy-190-Kempner-Texas-76539/13170196/
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Bitter Old Man
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4:58p, 5/26/22
AG
Its high, but I dont think its insane. They are probably hoping someone buys it with some development aspirations with that much HWY frontage. Might break it up into smaller homesites being that close to Killeen.
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RAB87
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7:50p, 5/26/22
AG
Raw land prices have gone crazy, especially in the Hill Country. $25K/acre is common for smaller acreage, but that's high for such a large place. Interest rate hikes are already slowing the market and resulting in price reductions though.
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oldarmy76
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8:35p, 5/26/22
Haha. I actually had a publicly traded development company bring this exact deal to me last week.
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dead zip 01
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10:12a, 5/27/22
AG
That stretch of 190 is slated to become Interstate 14 sometime in the next couple of decades. .

After the infrastructure bill passed it seems like I'm seeing more 190 frontage properties for sale as people are starting to see I-14 as a potential reality instead of a pipe dream.
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Carnwellag2
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8:08p, 5/28/22
that is actually probably a good deal. especially with the creek - if it is sustainable and the water well if it is dug deep enough
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BoerneGator
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In reply to thejavelina • 4:31p, 7/7/22
AG
That's not your typical "ranch". Hiway frontage on two sides. Has commercial development written all over it.
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jja79
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4:56p, 7/7/22
AG
That valuation is influenced more by proximity to Cove/Fort Hood and frontage on both US 190 and FM 1715 than anything IMO.
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Troglodyte
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7:54p, 7/7/22
AG
That place looks bad ass!!
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Leander - Ag
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3:14p, 7/21/22
AG
What are the typical listing / realtor fees for selling raw land? Still 6% total?
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Red Pear Realty
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In reply to Leander - Ag • 5:20p, 7/21/22
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AG
Depends on ticket size and what kind of market we are in. A $10M ranch won't offer 3% to each side. But a $200,000 parcel usually will. And when it's a sellers market, sellers can get away with offering lower fees sometimes. Offer 1% in a buyers market and see what happens, ha!
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Mas89
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5:27p, 7/21/22
AG
" produces 350 round bales of hay each year ".
The realtor is way off for this year I bet.
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Leander - Ag
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In reply to Red Pear Realty • 12:04p, 7/24/22
AG
Red Pear Realty said:
Depends on ticket size and what kind of market we are in. A $10M ranch won't offer 3% to each side. But a $200,000 parcel usually will. And when it's a sellers market, sellers can get away with offering lower fees sometimes. Offer 1% in a buyers market and see what happens, ha!


Thanks. I have closer to a $200-$300k piece to sell
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