July 2017 Wallace’s Farmer “MarketPlace Extra”
Farmland sales activity (the number of farms for sale and sold) has declined slightly each year the past five years. Farmland owners and investors have shown the most interest in purchasing land. An increase in interest has been observed in non-farming landowners. The stabilization in the farmland market prices and increase in interest from investors is in reaction to a search for solid investments, low-interest rates and a general belief that farmland is a tangible asset and sound investment.
These positive factors are countered by interest rates that are beginning to increase and commodity prices that have eased down from earlier this year. For owners concerned about farmland values dropping, it may be time to consider selling.
150 acres, southeast of Lake Park, sold at public auction. The farm had 144.81 tillable acres and a CSR2 of 78.5. It sold for $6,900 per acre. The farm had primary soil types of Webster, Clarion-Storden, Clarion, Okoboji, Nicollet, Omsrud-Storden and Crippin. Corn PLC yield was 144 bu. and soybean yield was 44 bu. The gently rolling farm sold with a lease, and buyer received one-half the 2017 cash rent. The sellers were represented by a REALTOR®.
76 acres sold at public auction. The farm had 72.4 crop acres and a CSR2 of 83.8. It sold to the adjoining landowner for $9,500 per acre.
61.08 acres, northeast of Oelwein, sold for $8,186 per acre. The farm had 58.08 crop acres and a CSR2 of 82.8. The seller was a local farmer and the buyer, a local investor.
80 acres, northeast of Manning, sold for $12,800 per acre. The farm had 75.12 crop acres and a CSR2 of 80.3. Sale equated to $170/CSR2 point/crop acre.
80 acres, south of Ackley, sold for $10,500 per acre. The farm had 68.82 crop acres with a CSR2 of 92.4. The sale equaled $132/CSR2 point/crop acre.
40 acres, east of Urbana, sold for $7,350 per acre. The farm had 38.6 gently rolling crop acres with a CSR2 of 75.5. The buyer was an investor completing a 1031 exchange, and the seller was a farmer.
76.26 acres, northwest of Atlantic, sold for $6,557 per acre. The farm had 69.01 crop acres with a CSR2 of 80. This equates to $90.10/CSR2 point/crop acre.
80 acres, northeast of Derby, sold at public auction for $4,900 per acre. The farm had 77.8 tillable acres and a CSR2 of 53.4.
Des Moines County:
76.64 acres, northeast of Burlington, sold at public auction for $6,300 per acre. The farm had 73.18 tillable acres and a CSR2 of 81.7. The seller was an estate.
Hertz Real Estate Services compiled this list, but not all sales were handled by Hertz. Call Hertz at 515-382-1500/800-593-5263 or visit www.Hertz.ag.