Publisher’s Picks

Discussing 2024 with Mark McMillian of AdvanceLand & Timber was an eye-opener. “In terms of transactions, we experienced one of the best years in Advance’s history,” he told me. “We closed 174 deals totaling almost $80 million in sales across 23,000 acres with an average price of just under $3,500 per acre. This record year coincided with the highest average interest rate since the company’s founding in 2001.”

I pressed Mark for his ideal client profile.

“The classic buyer today is a baby boomer. Many raised families in major cities. Now their kids are grown, and they’re tired of HOA fees. These boomers are selling those homes and spending $450,000 to $500,000 to move to the country. Many don’t care about timber income or interest rates. Despite the current average interest rate of 8 percent, this buyer demographic remains active. If interest rates decrease under the new administration, we could witness an unprecedented boom. At Advance, we feel confident that 2025 will be one of the best years in decades.”

— Eddie Lee Rider Jr.,
Publisher, The Land Report