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TIMO Drops Prices By over $325 Per Acre on Prime Texas Timberlands

The brokers advising a large TIMO on the ~14,144 acres of Texas Timberland known as "Trinity Timberlands" announced yesterday that they have lowered the asking price by over $325 per acre from $29,500,000 to $24,875,000.

The offering is comprised of three tracts:

Houston Co. Tract:  6,677 acres
Groveton Tract:       3,767 acres
Woodlake Tract:      3,724 acres

The new price represents a price still above many recent transactions. However, the quality, location and proximity to Houston County Lake makes these timberlands VERY appealing at $1,758 per acre.

This one is worth the second look.  Now that sellers of prime tracts are reducing their prices to get deals done, is it just the beginning or will this put in a bottom?

What do you think?