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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (17338)	11/16/2015 8:27:08 AM
From: isopatch	4 Recommendations Recommended By John Pitera roguedolphin sixty2nds The Ox Read Replies (1) \| Respond to of 33421

Finally, a few minutes to post a little about nearby county sheriff's delinquent property tax auction, Thursday. Most mineral property prices clustered in the 200-250 $/per acre range vs $300-350 in November 2014 and $400-450 in November 2013. One reason I bought quite a bit vs almost nothing the prior two years. Another reason I bought aggressively, this year, was the availability of acreage parcels in a key area,with proven or highly probable, but as yet, undrilled Marcellus natural gas reserves only 2 to 6 miles south of here. Very attractive area where acreage seldom comes on the market. Almost all these properties currently generate natural gas AWA some oil royalty income from older, more shallow, shale or sandstone pay zones. Even some of those proven, shallow, zones are yet to be fully developed. In WV tax auctions, delinquent owners have 18 months after the auction date to pay accumulated taxes, fees, and penalties. Over the years an average of 1/2 the owners do that and retain their properties. In those instances, buyers like me get our money back plus interest. We receive deeds for the other 1/2 of the properties in April 2017 from the WV State Auditors Office. Deeds for some of the properties bot in 2014 will arrive in April of 2016. 2014 offered some great bargains in surface tracts. On average, 3 out of 4 surface parcels are redeemed by the owners. Buyers, like me, get that $$ back with interest and receive the property deeds for the other 1/4. Some of these have marketable hardwood timber which can be selectively harvested when enough trees are mature. Another very good, multi-generation, resource investment. Still a bit under the weather and have to log off. All the best to you and your family, John. Iso