Land Prices are Lower!

Spring planting will be going in full gear soon and may start one thinking about the cost of land in Iowa. Recently the Iowa Chapter of REALTORS® Land Institute published their March 2014 Land Trends and Value Survey for bare, unimproved land with a sale price on a cash basis. Land Prices have gone down for the first time since 2009. High quality crop ground averaged $11,104/acre which was a drop of 5.4% or $570 from September’s report in 2013. The largest drop was in the SE corner of the state but all 9 regions saw lower prices. Lower commodity prices, higher input costs and higher … [Read more...]

Midwest Farmland Values Continue to Surge

In spite of the drought last year the annual increase for “good” agricultural farm land was up 16 percent in the fourth quarter of 2012, according the Seventh Federal Reserve District . That is just a step down from 2007 and 2011. They are also predicting that land values will rise further in January to March of 2013. Agricultural credit conditions have also improved in the fourth quarter of 2012 compared to the same time in 2011. This is due to non-real estate loan demand being lower, lower loan renewals, and extensions during the fourth quarter in 2012. Agricultural interest rates were … [Read more...]

$20,000 per acre Farm Ground in IOWA!

A 74 acre tract near Hull in Western Iowa in Sioux County, went for $20,000 per acre. There were two tracts - a 38 acre parcel and a 39 acre parcel.  Neighbor Leland Kaster purchased the two tracts from Clinton Shinkle, Washington - State. “Farmland is very valuable up here, with good commodity prices and a strong livestock industry,” said auctioneer Pete Pollema of Hull, who called the sale. Previously in October a 120-acre parcel near Sioux Center sold for $16,750 per acres. Near Sully, Iowa, an 80-acre tract sold for $16,200 in September of this year. Iowa farmland has risen a … [Read more...]

There’s GOLD in them thar hills!!!

Well, that's about right when you start talking about the price of farmland which is continually climbing in the Midwest. Some areas have seen as much as a 25% since last year reaching it's highest price per acre in 30 years, reported in two recent Federal Reserve surveys. Ranchland has increase 14% where Nebraska alone has seen a 40% jump in farmland since last year. However, we here in Iowa haven't done too bad with our values soaring to 31% since last year's 3rd quarter. Abundant harvests, higher prices, good credit conditions has contributed to huge increase in land … [Read more...]