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My great uncle left his farm near Plainview, TX undivided to 11 nieces and nephews. I am in the next generation. Now owners of 4 of the shares have announced that they want to sell their shares. We have been in drought conditions for the last 7 years. I have talked both to realtors whose highest estimate of value is $400/acre for a share value of $26,900 and a highly respected farm appraser who gave a value of $19,600 per share.

Emotionally - I really want to buy a share - memories of my great-uncle and times spent on the farm and keeping family land in the family (I will inherit a full share from my father and already have 1/3 of a share from an uncle who passed)

value wise - the farm, after expenses, has returned an average of $950/share for the last 5 years during the drought for a little over 4.8% return on the appraiser value of a share.

to buy a share at this time - i will have to take out a home equity loan but a 10 year loan at current rates is easily affordable.

thoughts, suggestions on a price to offer and evaluations are most welcome here on the board or to

Joe Starkey
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