Market Report 6/10/2010
Although it feels like we have turned the corner I wouldn’t get too excited just yet. We are on pace to sell around $30 million this year which would put us about on par with a “normal” year. We expect prices to dip a little lower before they rebound. Some of us suspected this type of market following the banner year of 2007; typical peak then valley always associated with real estate. The good news is that ranch sales see higher peaks and shallower valleys than other types of properties. They typically hold their prices during tough times and have the highest sales during good times. It’s a crazy time that is hard to label; some days it feels like a buyers market, then we sell a property for a record price per acre. My advice is that it is a good time to test the water, whichever side of the transaction you are on. -TXRanchLand