The Press Room
Question: Why are people buying deer-hunting land?
Webb: For the same reason they’re buying duck-hunting land. They’re afraid their leases will be taken away from them, or the property will be sold. Too, they may want a place where they can manage the wildlife themselves and have it exclusively for their family and friends to use. They also know that they’re not going to lose their money if they invest in land like they may in the stock market. Five years ago, this same land sold for $1,000-$1,500 per acre. And, I’ve seen some duck-hole land and some deer land sell for $2,500 an acre in our region. Land that has been just cutover, like the 300-acre tract I’ve mentioned earlier, sold for about $500 an acre 5-years years ago, and now that same land is selling for $1,150 an acre and may sell for as much as $2,000 to $2,200 per acre.
Question: What do first-time investors usually want?
Webb: I’m often seeing first-time land investors buying as little as 100 acres and then gradually adding to that acreage until they have 1,000 or 2,000 acres or more. We’re seeing investors now come into the land market, and instead of buying one tract of land they’re developing a complete land portfolio. With the Toyota plant coming to Tupelo, hunting-land prices have begun to drastically increase. But the good news is, we can still find land at the right place close to town. I’ve always had old-timers tell me, “Wesley, I’ve never lost money buying land.”
To contact Wes Webb, call (662) 231-0740, or email him at firstname.lastname@example.org.
Tomorrow: A Developer’s Dream