billonthefarm: Farmington Land auction

agman · Feb 16, 2011

Bill,

They were supposed to have auctioned off 110 acres outside of Farmington last Wednesday. Do you know what it sold for? If I'm thinking right that is some prime farm ground near where they built the new HS.

Agman

billonthefarm · Feb 16, 2011

It is about 2 miles south of the new school. Brought 66 or 67 hundred. Nice dirt, layed flat, needed alot of tile work. We had farmed it since this owner purchased it several years ago. Needs a complete grid tile system to really meets its potential. Just do darn wet and everybody that drove past it could see it and that is what kept the price down. On a average year it was wet, on a wet year it would make you lose sleep! Most everybody I talked to since felt this was about what it should have brought. Would love to have bought it but I didnt give it much thought at these prices. Just to much uncertainty today, hard to see where this is all going and I couldnt stand to have all my eggs in that basket if things went south.
bill

Rick Kr · Feb 16, 2011

Bill,

6600/acre right? Always wonder what land goes for in different areas.

Around mid-Mich 2000-2500 for poor/decent land, maybe old tiling. 4000 for decent-good with tiles.

Neighbor just paid 965K for 300 acres, then tiled the whole thing in December. Not sure what a tile job that size costs.

Rick

agman · Feb 16, 2011

Who bought it?

(quoted from post at 05:52:05 02/16/11) It is about 2 miles south of the new school. Brought 66 or 67 hundred. Nice dirt, layed flat, needed alot of tile work. We had farmed it since this owner purchased it several years ago. Needs a complete grid tile system to really meets its potential. Just do darn wet and everybody that drove past it could see it and that is what kept the price down. On a average year it was wet, on a wet year it would make you lose sleep! Most everybody I talked to since felt this was about what it should have brought. Would love to have bought it but I didnt give it much thought at these prices. Just to much uncertainty today, hard to see where this is all going and I couldnt stand to have all my eggs in that basket if things went south.
bill

Mike (WA) · Feb 16, 2011

I remember us shaking our heads at Production Credit in the '70's when guys were paying $1500 an acre- and that was in the days of $100 fertilizer and 50 cent diesel! Mostly dairy around here, and milk price then was about 10 bucks- and not a whole lot more now! Sure don't know how it "pencils out". . .

Anonymous-0 · Feb 16, 2011

If pattern tile will consistantly give 200 bu corn and $1000 acre for the tiling with good outlets without auxilary pumping, looks like a good price compared to other sales I've seen around this area. If more local might have enticed me in, but likely it would have gone higher and just be another bridesmaid. Still better than watching buying power erode with the current adminstration policies.

billonthefarm · Feb 16, 2011

A local guy. Worked a office job in the city untill his recent retirement. Didnt start farming untill late in life. He bought a couple other farms in the past few years. I guess he is farming for something to do in his retirement.
bill

Anonymous-0 · Feb 16, 2011

I don't know what guys are thinking had some land come up near us I talked to farm credit had things lined out and at 3500 an acre I would lose 100 bucks an acre for twenty years till it was paid of land brought 5500 so how much is he going to make just to say he owns it ? I feel another 1980s coming on The govt. is going to something to kill this market the world can't aford these prices and we will be stuck with high cash rents and imputs

730 virgil · Feb 16, 2011

land prices have been going crazy around here too
last year a 160 farm sold for a cool million.
i think a wet year it would hard to farm as it sems to lay low with a river nearby. maybe subject to flooding?
a lot of farm land has been coming up for auction this winter.
how can you pay for this?

billonthefarm: Farmington Land auction

agman

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Rick Kr

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agman

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Mike (WA)

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Anonymous-0

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Anonymous-0

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730 virgil

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