Stable Market & Upcoming Auctions
My apologies for no blog last week. I took an extended trip with my family to Hawaii (note the photo we took of some farmland in Kauai). It maybe wasn't a good deal, as they now all want to move there. I had a great time, with my wife, 6 grandkids, son & daughter, son-in-law and daughter-in-law. I hope to do it again.
So what’s going on with the land market? Several weeks ago I had an interview with the local paper, which I included in my blog for that week, and I advised that this was not a time to panic. The recent land survey conducted by the Realtors Land Institute Chapter #2 showed the value of farmland actually rose by 1% in the last 6 months. This was great news and maybe put cold water on some of the skeptics who thought the land market was going to tank and the bottom was falling out. In my mind, this is a stabilizer to our current farm economy. At least farmers can hang their hat on something that is stable. A shortage in supply of farms to sell has helped with this stabilization effect. If you look in the paper, websites, etc, you do not see many for sale.
We have been blessed that we have been able to keep finding farms to sell in the state. On Wednesday, March 29, we sold 2 farms in Hardin County for $7800/acre and $7700/acre. On Friday, March 31, we move to Blue Grass, Iowa, to sell a 78 acre tract, 13 acre tract and 101 acre tract. On Wednesday, April 5, we end up in Liscomb, Iowa, to sell a Marshall County 98 acre tract. A 151 acre tract at Allison, Iowa, comes up for sale in late May, and then a 76 acre parcel is auctioned in late May in Hancock County. We are presently working on a 240 acre parcel with a CSR of 92, another 238 acres in Butler County, and last but not least, a 240 acre tract in Wright County. Yes, we are busy, but that is a good thing. Serving the needs of our sellers and buyers is what we do, and we enjoy doing it. Have a great week!