$30k/acre Farmground
General Topic
So far,I haven't paid over $1254/acre. Farmground around my house has hit $13k/acre in SC KS.
Wow, I was looking in central Ks at some foreclosures about 15 years ago and they sold for $7,000 an acre with my buddy there telling me that was high.
Farmland around me in Michigan has been going for $10k/acre or more for years now. Really puts the average hunter out of the market. Only hope is small hard to farm parcels. Glad i bought mine when i did 23 years ago.
There have been several tracts of farmland in different parts of Iowa that have sold for around that 30K/acre price point in the past couple of years. Seems to usually end up being 2 older farmers with deep pockets that own adjoining ground next to the land for sale. One of them just wants it more than the other guy. It certainly doesn’t pencil out to be profitable from a conventional farming standpoint, at least.
Don't mention what ground sells for in Kansas.I did hear where they projected farm ground in Iowa at 50K within next 10 years
friend of mine just turned down 25k per acre for his farm in nw indiana. it is within a reasonable commute to chicago and the prospective buyer wanted to grow mcmansions on it.
I wonder if china buying up farmland has affected the price? How much would the crop yield be on a acre each year?
Heck you can't buy a juniper hillside for that in Central Texas.
These days, the income potential on land seems to not matter. If someone wants the land, they’re going to buy it, price be damned.
Like granddad said, they ain’t making any more of it.
Many farms in the Midwest are now on their 4th to 6th generation of ownership. If they managed their money well and invested smartly they have accumulated a lot of wealth.....generational wealth. Generational wealth is a whole different ballgame. Throw in the government programs (subsidies) and crop insurance and the risk to farming today is not what it was 40 years ago.
Wife's uncle owns 55 acres in wake county NC. He was offered $55k acre for 25 acres as they wanted it to put soccer fields on (this was 3-4 years ago). He turned it down as he doesn't need the money. He has one of only 2 waterfront properties on a particular lake there and has been offered a healthy sum for his house, but doesn't want to sell as he knows they will bulldoze the house he built to build a mansion. He travels the country bird hunting and works when he wants to. Living the dream.
All the farmers where I’m from have never made any money. Even when corn was 7 bucks a few years ago no one made a dime but was fighting over 10k dollars an acre ground. Poor fellas can’t believe they continue to put their families through the grief.
Shane
The farm I hunted for 13 years was listed for 30k an acre and sold fairly quickly last summer.
It was a developer that bought it. Shortly after mom and dad passed away it went on the market.
105 acres asking price was 3.2 million but not sure what it sold for.
They bought it in the mid 60s for around $6,000. 47 lots coming for sale. I’m no surveyor but nearly half of it I would consider to be lowland. I know it happens to a lot of hunters who don’t own land but it’s a bummer when it happens to you
Hunter $$ just can't compete against development $$$$$.
Watching them bulldoze a couple of used-to-be-wooded properties near here. MassWildlife tried to buy one of them, couldn't come near matching the price. Even in towns with heavy property tax rates, they're putting up houses anywhere they can fit 'em. And then there are the old pastures and woodlands being cleared out for solar farms...
If you did not make money with $7 corn, sell your equipment and get a 40 hour per week job.
The most recent offer is $150k/acre for 23 acres. He is still holding out.
The amount of money out there is staggering. And then the number of folks with those resources is equally so. I see it throughout the south weekly.
I suspect most on here are conservatives and generally fans of a free market...but I bet there are a lot of those conservatives and free market fans get bent out of shape when development consumes what was once rural land. But you can't have one without the other.
