This week a 120 acre Hancock County farm sold for $152 per CSR2 point. Part of the purchase price was rolled in from a sale of some other commercial property by the buyer, the remainder was borrowed.
Other notable sales which are similar to this have been rumored to have taken place in Iowa. A Poweshiek County 146 acre farm sold on Dec. 1 for $10,600 per acre, or $132.2 per CSR2 point.
Does this mean that all farms are UP?
Not necessarily. The configuration of this farm was perfect, a rectangle. See our older blog posts about this topic.
The drainage was near perfect. A deep drainage ditch along the side of the farm is a pretty desirable feature.
Location, Location, Location. This was pretty much in the middle of nowhere. Easy to access from all directions, no man made or geographic blockades, like city limits, rivers, interstate highways. That is good, too.
Timing is also everything, a 1031 buyer is a good thing, but they still will not pay more than a 20% premium -- why would they?
Several sales are pending which are private, there are several auctions coming up.
The world is a growing, hungry thing. These Thousands of refugees and immigrants are rapidly going to change their diets from beans and rice to beef, pork and chicken, well, beef and chicken for sure!
Upcoming Farmland Auction
75.20 Acres of Kussouth County Farmland!
Legal News
-
Farmland Values Strong in North Central Iowa! The last few months of 2014 showed a very strong interest in North Central Iowa farmland. I...
-
The Ahnemann Farm sold on March 12, 2013 at the Branding Iron in Thompson. The farm sold for a total of $11,900 per acre, the buyer ta... -
If you own Iowa Farm Land, be sure the land is signed up for USDA Programs! What do I have to do as a landlord to sign up? The deadline ...
-
The Faber farms sold on July 9, 2013 at the American Legion Hall, Forest City. The North parcel went for $8,100 per acre, and the So... -
Conservation Reserve Program Contract Sign-up may be a wise decision! CRP contracts are between the landowner and the USDA and vary in le...
-
June, 2015: Iowa: Farm Land Values have been in a tailspin the last year and a half, overall. But some areas of Iowa and Nebraska have ...
-
Are Farm Land Values in a Bubble? By Mark A. Newman Farm land in Arizona recently sold for $10,500 near Buckeye, AZ. What are the buyers...
-
144.44 Acre Hancock County Farm SOLD at auction for $9200 per acre. The farm was an 80 CSR2 farm with a house on the farm, house was in ba...
-
Can I sell my farm land at auction for NO COMMISSION? December 18, 2014 The simple answer is, "yes," but you were told ther...
-
Mid December Sales which we saw in our office during the week of December averaged $126 per CSR2 point. Many appraisers are guessing at...