The first week of March was a busy one. We had three closings totaling over 560 acres, in 3 different counties, for slightly over $4,000,000. Historically, March 1st was the date most all real estate closings occurred because that is when most people moved from one rural residence to the new purchase. Those dynamics have changed as we switched to off farm owners and cash rents. Off farm owners are not connected to the farm, as far as living on them, so moving to a different residence does not enter into the equation. Cash rents have allowed us to prorate rents for closings different times of the year.
March will be busy, as we had an auction March 7th, and upcoming auctions on March 20th and March 28th. March 7th was an auction of 120 acres in Pottawattamie County in Southwest Iowa. We had a lot of interest in this property, as there has not been a lot of land that has sold in this area. March 20th is 200 acres located in Butler County, just south of Dumont. This property has some machine storage and grain storage, as well as a beautiful building site overlooking a meandering creek. The March 28th auction consists of 110.5 acres located between Indianola and Carlisle in Warren County. This property has great potential, as it is located in the Des Moines metro area. There are building sites on both the 70-acre parcel as well as the 40.5-acres. The 70 acres has a small pond with the 40.5 acre tract having a small stream. The 70 acres is over 905 tillable with the 40.5 being over 80% tillable. Both are located just ½ mile south of Scotch Ridge Road, and within the 2 mile boundary of Des Moines for easy access to the metropolitan area.
We are presently looking at properties for auction in Hamilton, Poweshiek, Winneshiek, and Franklin Counties. These parcels are anywhere from 40 acres up to 160 acres. Keep checking our website for details. We still have 80 acres near Popejoy that is all pattern tiled with average yields the last three years of 213/bushels/acre. This one is priced at $7100/acre and needs a new owner. This farm offers a good return with good cash rents in the area.
Thanks for all that my customers and clients did for us in 2017. We are looking forward to an even bigger and better year in 2018.
Make it a great week!