Even in the face of the recent cooling trend of the real estate market, the hottest deal in America seems to be on the land most coveted by millions. Of course, you have to be willing to destroy it to buy it.
Last week, nearly 140,000 acres of undeveloped public land were sold to oil and gas companies seeking to further expand their network of roads and wells into formerly protected roadless areas within the national forest.
According to unofficial numbers provided by the Bureau of Land Management (BLM), which oversaw the auction, the highest bidder paid $850 an acre, and the highest amount received for any particular parcel of acreage was $395,000.
Of that chunk of real estate, about 20,000 roadless acres sold were right here in Colorado: 9,000 in the Grand Mesa-Uncompahgre- Gunnison National Forest, more than 4,000 acres in the White River National Forest and 6,000 acres on the Colorado – Utah border in the Manti-La Sal National Forest. While you can expect the roads to soon follow, don’t expect an invitation to use them.