When Troy Lippard set up shop to conduct a land auction for multi-acreage near Lamont recently, he had more bidders than ones calling numbers out at the site.
People were putting in bids via the Internet for much of the rural land in northwest Oklahoma that is getting gobbled up as a prized possession for mainly recreational use.
“The market has been real good for this kind of real estate. With some lowering of the interest rates, the demand for property has gone up,” Lippard said.
He said some rural properties listed on the Lippard Auctioneers Web site can draw up to nearly 600 hits or inquiries. It’s not unusual to see many people logged on-line during some of the recent property auctions.
Likewise at Wiggins Auctioneers, associate broker Shawn Terrel said his property auctions are being broadcast over the Internet.
“Absolutely,” he said when asked about a boom in the rural properties market. “There’s a tremendous amount going on. It’s seasonal. We’ve seen an increase anywhere from 20 to 30 percent in land value. We’re enjoying this right now.”
Take a look at the Wiggins or Lippard Web sites and you’ll see what these men are talking about.
Multi-acreage in Major County for example is being advertising as “Prime Hunting Land” on the Wiggins Web site.
Terrel said extended hunting seasons have increased the sport’s popularity along with new federal rules and regulations that maintain wildlife habitats. It is drawing more interest and activity in the sport.
And many farmers would rather sell than lease, Lippard said.
“It’s harder to get leases. Many farmers don’t want to lease their land to hunters if they are outsiders and they don’t want to be burdened with the responsibility,” Lippard said.
Disposable income is more plentiful now with the increase of oil and gas prices. Most property owners are upscale professionals who will pool their assets, form a limited partnership and buy some land to get away from it all.
Terrel said he had a listing for acreage near Cleo Springs that could be used for a corporate retreat which are becoming more popular in the big business cycles.
Kyle Hohman, president of Farm Credit Bank said he definitely has seen an increased demand in loans to purchase land for recreational use.
“The hunters are wanting a place to hunt and people want a place to ride their four-wheelers,” Hohman said.
If a property has water such as a spring, lake or pond, that becomes especially appealing, Hohman said.
There is no single area that people are focusing in Garfield and surrounding places. Nearly all the property is appealing.
“We’re seeing a broad sweep everywhere,” Hohman said.
Lippard said some developers are purchasing large tracts of acreage near Enid and dividing it up to sell in small parcels of one to five acre plots.
The appeal here of course is that Enid will continue to grow and spread that will send land values up in the near future. And there’s a market of buyers who enjoy the rural flavor of living on multi-acre lots, Lippard said.
“There are some deed restrictions on these properties, but they are not guided by the MAPC (Metropolitan Area Planning Commission),” Lippard said, noting that his company recently bought a 50-acre tract for just that purchase.
By Scott Fitzgerald Staff Writer
Courtesy of EnidNews.com
