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O.T. land sold today

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old bones

11-17-2006 16:29:14




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This is a bit o.t., but I thought I'd share it fyi. There was a land auction today for a local farm. 80a on one side of the road, 160a on the other side, total 240a. The 80 has an old building site with 2 older usable bins, about 30000 storage. Another bin is there, but pretty much junk. Also has a post framed building 54x82x14. The land on that parcel is in 3 pieces, divided by an uncrossable drainage ditch (with a separate driveway from road), and a crossable waterway. The waterway and drainage ditch result in point rows.
The 160 is in 3 pieces, divided by the same uncrossable ditch, and a waterway that is partially crossable. The biggest piece on this parcel is 64a. Again, point rows.
There is a total of about 225 tillable acres (the smallest piece is 4a, the largest is 64a)with an average of 80 csr.
There is 90,000 ft of tile in the total 240.
It was sold separate, then combined. It ended up being sold as one unit- 240 "land" acres at $3975.00 per acre. Total is $954,000.00, or about $4240.00 per tillable, or $53.00 per csr point.
Seller was a trust, buyer was a farm family from about 15 miles away.
Wow! Living in the neighborhood, I didn't think it would bring that, but was there and saw it. Makes me think about getting out, but I like farming too much. Doesn't really pertain to this site, but thought I'd share it.
old bones

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Kestrel

11-18-2006 08:00:00




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
This article (if my link worked) appeared in yesterday's Wall Street Journal explaining increasing land values in the Great Plains, thanks to ethanol plants & pheasant hunting.

Link



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spitz

11-17-2006 20:58:30




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
Think back to the early to mid 80's and what was happening then. Scary ain't it!! Is history going to repeat itself??



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paul

11-17-2006 21:06:46




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 Re: O.T. land sold today in reply to spitz, 11-17-2006 20:58:30  
I remember in the 80's when a popular farm magazine had a cover story, that we will likely never see corn below $3 again, because things & the world had changed fundamentally.

The following harvest, corn was $1.90 a bu. After that, it went to $1.42 a couple years later.

Sigh.


People who aren't in ag on other forums are talking about the high crop prices, & it's because of ethanol, and we won't be able to afford food any more.....

This same group, 3 moths ago, was complaining about all the 'free lunch' farmers get from govt subsidies, and crop prices should pay the way, not the govt.

Sigh.

--->Paul

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msb

11-17-2006 19:33:23




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
We might look back on this sale in a couple of years and say,MAN , that was a steal!



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Dave from MN

11-17-2006 19:02:46




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
Yup, land is doing that here. If it aint bought up for homes, it is bought up for 2x the going rate by a few select multimillionaire ""farmer's"". Which really pee's me off, puts it out of financial reach for us that need to borrow and ends up raising our property values- per assessor- to the point that us farmers with smaller acgreages are looking at really large increases in taxes, so many bow out and sell or rent there land to them few select ""farmer's"". freaking sickining, but I am gonna give it my all to start small and maintain a decent profit and see what God gives me. If all fails, maybe Allan will adopt us and we can run his extra tractors for him when he is busy. make that addition big Allan.

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730virgil

11-17-2006 19:02:43




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
that farm ground being in so many parcels will be hard to farm



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J Schwiebert

11-17-2006 19:00:54




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
What is the average corn yield on that land? Soybeans? any other crops? J.



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old bones

11-18-2006 15:39:42




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 Re: O.T. land sold today in reply to J Schwiebert, 11-17-2006 19:00:54  
average for this area for '04, '05, & '06 ran right at 195 corn (dried down), 52 beans.



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Midwest redneck

11-17-2006 18:36:40




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
If you were to sell your land make sure that you talk to a tax attorney on how much goes to the government after the sale. I have heard of horror stories with stock option sales and the taxes take the profit right out. my 2 cents.



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Bill in Ohio

11-17-2006 16:49:47




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 16:29:14  
That is interesting to many of us. Is this purely agricultural land, or is "civilization" closing in on it? How productive is the soil in your area? For that matter, whereabouts is it located?
In our area, in SW Ohio, farm ground is always inflated by some outside factor. I haven't found the right crystal ball yet to figure any of it out!



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NO tools

11-17-2006 17:18:32




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 Re: O.T. land sold today in reply to Bill in Ohio, 11-17-2006 16:49:47  
BILL SAY buddy watch that crystal ball closely now? i had one to explode cut me badly



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Bill in Ohio

11-17-2006 19:29:28




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 Re: O.T. land sold today in reply to NO tools, 11-17-2006 17:18:32  
NOW I know how you got that name! I bet you used a tool on that crystal ball!!!!



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NO tools

11-18-2006 07:19:57




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 Re: O.T. land sold today in reply to Bill in Ohio, 11-17-2006 19:29:28  
YEP YOUR'r right bill
You see i had a ELEGIT twin half brother his name was aslo bill now he was so ashame of the rest of the family he run away from home when he was two days old.It's Knowin that he's been ever where. done ever thing. knows ever thing. has ever thing.KNOWS ever body.
BILL i really hate it that we been apart for so many years THAT we have so much in common MOMMY&DADDY sure missed you also.
BROTHER BILL

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old bones

11-17-2006 17:12:55




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 Re: O.T. land sold today in reply to Bill in Ohio, 11-17-2006 16:49:47  
sorry.
we're in nc iowa. the land is agricultural.
pretty decent ground, level to gently rolling.
go east of here about 8 miles, gets hilly.
nearest town is 5 miles, pop 300. nearest larger town is 12 miles, pop 8000 (+-). about the only thing pushing prices (that i can figure out) is $3.25 cash corn, with a new ethanol plant going up about 6 miles away, scheduled for startup next summer. cash rent is climbing, also. about 30 miles south of here, one farmer rented land $200.00/a, 2 years up front, but that's not the norm, yet. go about 40 miles ese of here, and land is bring quite a bit more rent.
worst thing about it is that more hog confinements going up all the time. used to raise hogs myself, but in outside lots. got to where it wasn't worth the effort (for me), but still miss having them- until winter that is (frozen waterers, bedding, etc).
old bones

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doogdoog

11-18-2006 00:22:10




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 Re: O.T. land sold today in reply to old bones, 11-17-2006 17:12:55  
Aloha, Read the newspaper today about a farmer selling all his hogs to China. They are buying everything they can get their hands on, generators, jet engines, books, etc.

Mahalo,
doogdoog



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doogdoog

11-18-2006 00:54:35




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 Re: O.T. land sold today in reply to doogdoog, 11-18-2006 00:22:10  
Aloha, Ok, the persons name is Bill Funderburg from Greenville, Ohio. According to the Honolulu Advertiser (that our newspaper) his Chinese clients buys about half of his 3000 breeding hogs each year.

Mahalo,
doogdoog



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