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Ranchers: “Hold Your Horses, Nerds” Big Tech Geeks out on Real Estate

You are currently viewing Ranchers: “Hold Your Horses, Nerds” Big Tech Geeks out on Real Estate
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Ranchers from a Southern state are helplessly watching the influx of large tech companies that are coming into town. This is happening while property developers are preparing to build more homes.

Ranchers Now are out of Luck

Moreover, all of that development is pushing out one group of Texans who have been here the longest: ranchers.

“However, it is really difficult to let something go. In fact, it is your family for many many years,” said Glenn Patterson, who is Coldwell Banker’s commercial real estate agent.

Therefore, you will find a local elementary school plus a nearby subdivision. Therefore, very soon, what is used to be Patterson’s 109 acres of land will have some houses on it.

Ranchers Beware: Hundreds of Homes Taking Over the Land

“There were roughly 400 homes will be built on this property,” Patterson said.

In January 2021, the property was purchased. However, it has not been a matter of turning the dirt, Patterson said.

“A big comment is utilities. This was understanding to where you, in fact, connect into,” said Nick McIntyre. He was the Vice President of Perry Homes.

Off-Site Costs, Infrastructure

The tract of land is setting for Perry’s home builds. Homebuilders like McIntyre constantly weigh the off-site costs, what infrastructure will look like, and what resources are available from the city.

“In fact, the growth has just expanded so much they haven’t been able to keep up with it. Moreover, they didn’t anticipate it,” McIntyre said.

The land has doubled in price over the last 18-24 months according to Longhorn Realty which is another real estate firm. The group has already seen another trend which is an uptick in the number of buyers that are coming in from the outside of the U.S. to a local county to invest in Texas land.

Regarding a shift in Texas, there is also a whole other component.

A local county rancher said: “You can hardly afford to stay in it.”

Land is Increasing in Value

The cost of land has become so high and ranchers’ industry cost has gone up. The land is being sold off. There is an increase in value is tempting. Moreover, it was a difficult call for those who have cultivated our state’s supply of beef and grain.

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