The Land Report

Texas 2018

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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Page 13 of 99

12 The LandReport | T E X A S 2 0 1 8 LANDREPORT.COM S ometimes, it is best to let the facts speak for themselves. Fact N o. 1: The average price per acre of Texas land jumped to $2,644 in 2017. Yes, that would be an all-time high. Fact N o. 2: The 4.46 percent jump marks the seventh year in a row Texas land values have moved up. Fact N o. 3: Over the last five years, the annual compound growth rate for rural land statewide has averaged 5.89 percent. And if you cherry-picked certain regions, that return could easily double or triple. Yet the number I want to stress is not last year's prices or the last five years' prices but the value of Texas rural land in 2009 and 2010. Those two years marked the bottom of the barrel during the Great Recession. From an all-time high of $1,914 per acre in 2008, land values dropped to $1,830 per acre in 2009 and $1,807 per acre in 2010. That's right: an overall downside of just over 5 percent. Them's the facts. Closing Note: So proud of Henry Chappell and Gus Schmiege, who collaborated on our definitive profile of Houston's own Russell Gordy (above). This Land Report 100er and sons Shaun and Garrett set some Texas-sized goals for themselves. And wouldn't you know, they hit them dead center. Enjoy! Land values in the Lone Star State reach new heights. Bull's-Eye! E r i c O' K e e f e Editor's Note GUSTAV SCHMIEGE III H

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