Find Real Estate Agents and Homes for Sale


Real Estate News --> Arizona News

Arizona Farmland That Was Demolished To Build Housing Developments Is Being Turned Into Farmland Again


A dairy farming family paid $8 million in September for a 760-acre field in Arizona that a real estate developer had paid $40.8 million for just six years earlier.


Archived Story

Across the country, farms scheduled to become housing developments have come full circle and are producing crops again, according to azcentral.com (via Housing Doom). According to The Real Deal, this trend has led to some great deals for farmers: A dairy farming family paid $8 million in September for a 760-acre field in Arizona that a real estate developer had paid $40.8 million for just six years earlierA 430-acre swatch of cotton fields in the state was recently reacquired for $1.75 million by the same family that sold it in 2009 for $8.6 million. In Arizona, 250,300 acres of farmland were converted to development land from 2002 to 2007, fourth most in the country. But the post-real estate bubble years have seen the state's cotton acreage rise from 136,000 in 2008 to 261,000 this year. The land has either dropped in value or developers have decided to hold off construction until the market picks up againUntil then, developers are increasingly renting out the land to the farmers who once worked it, since tax rates on agricultural land are lower than for commercial or housing plots. Nationally, farmland decreased by 13.6 million acres from 2005 to 2009, and increased by 200,000 acres in 2010A larger picture of the national landscape won't be available for another three years. facebook linkedin twitter email print --> Recommended For You window._taboola = window._taboola || []; _taboola.push({mode:'thumbs-1r', container:'taboola-below-main-column', placement:'below-main-column'}); (function() { 'use strict'; // Notify the DFP code that a new ad has just been rendered amplify.publish('adRender'); }()); Comments Comments on this post are now closed. Insiders 0 All Comments 0 Apply To Be An "Insider" » Loading Arizona Farmland That Was Demolished To Build Housing Developments Is Being Turned Into Farmland Again Arizona Farmland That Was Demolished To Build Housing Developments Is Being Turned Into Farmland Again The housing bubble in reverse. Get Business Insider Emails & Alerts Sign-Up Learn More » Business Insider Select More Featured Business Insider Select Tech Select Tech Chart Of The Day Markets Chart Of The Day 10 Things Before the Opening Bell Instant MBA Breaking News Business Insider Events Finance Finance Select Markets Select Monday Scouting Report Your Money Select Financial Advisor Insights Smart Investor Strategy Strategy Select Advertising Select Retail Select Careers Select Advertising: The Brief Politics Politics Select Military Select Law & Order Select Life Life Select Transportation Select Education Select Entertainment Select Tech Enterprise Select Science Select Mobile Chart Of The Day E-Commerce Chart Of The Day Payments Chart Of The Day Digital Media Chart Of The Day IoT Chart of the Day Charts of the Day Sports Chart Of The Day Top 10 Things 10 Things In Tech You Need To Know Closing Bell Sports Sports Advertisement (function() { 'use strict'; // Notify the DFP code that a new ad has just been rendered amplify.publish('adRender'); }()); Your Money NASDAQ Composite 4,887 +6.71 (+0.137%) S&P 500 2,067 +7.27 (+0.353%) NYSE Composite 10,953 +0 (+0%) Sponsored By (function() { 'use strict'; // Notify the DFP code that a new ad has just been rendered amplify.publish('adRender'); }()); window._taboola = window._taboola || []; _taboola.push({ mode: 'organic-thumbnails-a', container: 'taboola-right-rail-thumbnails', placement: 'Right Rail Thumbnails', target_type: 'video' }); Advertisement (function() { 'use strict'; // Notify the DFP code that a new ad has just been rendered amplify.publish('adRender'); }()); Featured These startups could completely change how we manage pain and treat cancer More "Tech" » These are the 25 hottest startups in San Francisco More "Tech" » This guy launched a thriving real estate business at the peak of the housing crisis More "Fast Track Q&A" » The 27 coolest new businesses in New Orleans More "Coolest Small Businesses" » Welcome, ! You are logged into Facebook Social: Your Activity| These articles have been shared on your timelineYou can remove them here: Options Notify me when a story is shared. Yes No Welcome, ! You are logged in with Google Social: Your Activity| These articles have been added to your Google activity logYou can remove them here: Options Notify me when a story is shared. Yes No Trending The Hive What Smart People Are Reading 3 Times plans to make NYT Now mobile app free York 2 How to find good Iranian food 2 The Fast And The Furious Would Be Nothing If Vin Diesel Weren't A Huge Nerd 2 Warren Buffett's mobile home empire preys on the poor | Center for Public Integrity 2 Reading The Lausanne Tea Leaves Interest 2 My Byline Is a Lie 2 My Byline Is a Lie 2 The age of disposable media - Digiday 2 A spectacular photo journey of Earth 2 Tech companies are ready for self-driving cars, but the world may not be More See All » BI Intelligence Mobile, video, and real-time bidding drive growth in programmatic advertising The payments industry explained How apps and sites are monetizing through subscriptions The payments security report Read Business Insider On The Go FREE AppDownload Available for iPhone, iPad, Android, BlackBerry and Windows amplify.publish('editorial-sidebar-loaded', 'editorial2'); Find A Job Tech Jobs Media Jobs Finance Jobs C-Level Jobs Design Jobs Sales Jobs See All Jobs Thanks to our partners * Copyri

Trending Arizona News:


  • The Arizona Lawyer’s “Extraordinary Fraud”
  • NAIOP Arizona announces mentor program protégés
  • State orders Tucson's Rathbun realty firm to 'cease, decist'
  • HFF announces $21.45 million sale of grocery-anchored retail center in Tucson, Arizona
  • Century 21 Judge Fite Named Semi-Finalist for the Cartus Broker Network Masters Cup
  • Visalia woman indicted in real-estate Ponzi scheme
  • Arizona Home Sales: Conditions the Listing Real Estate Broker Must Disclose
  • Big real estate group names Suzanne Kinney new president
  • Positive Arizona economic news rounds out 2012
  • HomeSmart Debuts Real Estate Text Messaging Stickers
  • Tempe, AZ Homes For Sale & Real Estate
  • Sahuarita, AZ Homes For Sale & Real Estate
  • SAXA and Caliber Companies Spur Commercial Real Estate in North Scottsdale With New 40,000 SF Class-A Office Building
  • Zillow introduces 3D technology app to real estate agents
  • Store Capital reports 4Q results
  • Step Inside Michael Phelps's $2.5 Million Arizona Home
  • Successful real-estate firm built between grisly crimes
  • Amid sexual harassment claims, Arizona fires football coach Rodriguez
  • Video Shows Bobcat And Rattlesnake Fight (Guess Who Wins)
  • Arizona tax credits rising for business