I know that there are several serious researchers on this list who will
disagree.  Whether they are or are not closer to the true equivalency, I
believe nothing short of a serious study of land in VA in Charlotte County
in that early year so of our nation and so situated, and an equal study of
the nature of the money tendered - Sterling as opposed to either paper or
tobacco or whatever - I think none of us really know.  

Then too, the nature and size of the trees and the number of acres so
covered certainly would have impacted that price, as would the proximity of
the land to a waterway or a commonly used roadway to a navigable stream or
other market.  Just as we do now, our ancestors bought land based on all of
those factors and many more.  

In my view, in English Pounds Sterling of 1801 that tract would be
approximately 400 X $130.00-$150.00 per acre in our money of today.
Arbitrarily using $140.00 as the equivalent in 2009 money, he seems to have
paid something in the vicinity of $6,000.00 for the whole of it.

Though surely not grand, that was no small number then.  So it is that I
suspect that there was a dwelling on the property, though probably little
more than a cabin, and enough of the land was cleared so that a buyer could
have a garden and perhaps start a tobacco patch.

Hope this helps a bit, and I hope Brent, Clay and Bill McCarty add their
thoughts in the matter. 


-----Original Message-----
From: Research and writing about Virginia genealogy and family history.
[mailto:[log in to unmask]] On Behalf Of Westview
Sent: Saturday, March 07, 2009 10:48
To: [log in to unmask]
Subject: [VA-ROOTS] value of land

Please, based solely on the figures I give, I'd like an educated opinion
from the list:  in 1801 a man purchased 315 acres for 4*00 pounds.  Does
that seem a fair price for land alone, or was there a house on the property?

Comparing other sales in the area produced a varied result but,
unfortunately I don't have very many properties in Charlotte County that I
know had houses that early with which to compare.  I'm hoping someone will
have an opinion based on other counties.

Thanks!
Kathy

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