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Post by Bwoods11 on Dec 29, 2019 13:56:04 GMT -6
If you go to the SW corner of Minnesota farm sales are high, but crop land will sell for $1000-2000 acre less than the same land across the border in Iowa. Same soils, lay of the land is similar. It’s not an exact science.
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Post by wklman on Dec 29, 2019 14:12:20 GMT -6
If you go to the SW corner of Minnesota farm sales are high, but crop land will sell for $1000-2000 acre less than the same land across the border in Iowa. Same soils, lay of the land is similar. It’s not an exact science. You think that's from the higher taxes in mn kurt?
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Post by Bwoods11 on Dec 29, 2019 14:16:24 GMT -6
No I think demand is just higher in Iowa. Lots of investors buy in Iowa as well. Higher rents etc...
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Post by biglakebass on Dec 29, 2019 14:31:06 GMT -6
Longer growing season? I realize its not weeks longer but does several days matter?
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Post by Bwoods11 on Dec 29, 2019 14:49:05 GMT -6
Could be? Personally I think the insane prices in NW Iowa just trickles to the border.
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Post by Freeborn on Dec 29, 2019 14:52:49 GMT -6
Could be? Personally I think the insane prices in NW Iowaa just trickles to the border. Seems like a similar situation on the southern border, better buys in Missouri.
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Post by Freeborn on Dec 29, 2019 15:05:30 GMT -6
Could be? Personally I think the insane prices in NW Iowa just trickles to the border. How do you track recent sales? It would be helpful to see what comparable properties sell for.
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Post by Bwoods11 on Dec 29, 2019 15:19:18 GMT -6
Could be? Personally I think the insane prices in NW Iowa just trickles to the border. How do you track recent sales? It would be helpful to see what comparable properties sell for. I go to a lot of individual websites (realtors/auctions) and then you can always follow up with county if necessary.
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Post by Bwoods11 on Dec 29, 2019 16:01:28 GMT -6
Lots of marginal land in North Dakota that could be bought and put into Wildlife programs/CRP. If you had time, money, and the balls to wait it out. I’m a bit too content at this point.
Had my eye on a couple farms...but passed.
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Post by Sandbur on Dec 29, 2019 16:37:43 GMT -6
Lots of marginal land in North Dakota that could be bought and put into Wildlife programs/CRP. If you had time, money, and the balls to wait it out. I’m a bit too content at this point. Had my eye on a couple farms...but passed. I had a client who did well on that about 15 years ago. They sold his Dad’s farm for development. He ended up with sections of land out there.
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Post by Freeborn on Dec 29, 2019 16:41:10 GMT -6
Lots of marginal land in North Dakota that could be bought and put into Wildlife programs/CRP. If you had time, money, and the balls to wait it out. I’m a bit too content at this point. Had my eye on a couple farms...but passed. I'm a little Leary CRP in the long run. Maybe it's not an issue but if times get tough I bet they pay for food stamps and cut conservation.
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Post by Bwoods11 on Dec 29, 2019 17:44:43 GMT -6
Lots of marginal land in North Dakota that could be bought and put into Wildlife programs/CRP. If you had time, money, and the balls to wait it out. I’m a bit too content at this point. Had my eye on a couple farms...but passed. I'm a little Leary CRP in the long run. Maybe it's not an issue but if times get tough I bet they pay for food stamps and cut conservation. Yep, you cannot count on CRP long term. Having decent to good farm land in CRP is important. CRP can help pay a farm off though.
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Post by kl9 on Dec 29, 2019 18:26:30 GMT -6
Could be? Personally I think the insane prices in NW Iowa just trickles to the border. How do you track recent sales? It would be helpful to see what comparable properties sell for. Google MN ECRV. Has land sales for every county in MN. Land sales have to be publicly announced and in MN it goes through this service. Very convenient
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Post by MoBuckChaser on Dec 29, 2019 19:40:02 GMT -6
If you were to buy a farm in an agricultural area what metrics do you guys use to evaluate the value of agriculture land and also the non productive land that would come with a farm purchase? With Ag land are you focused on CPI (Crop Productivity Index)? Does the terrain effect value, what other measurements do you use to assess value? How about the non productive land that would be purchased as part of a Ag land purchase, do you use tax assessed value? What steps do you use to determine if a sale is fair, reasonable, a good deal or a terrible deal? 50-60% of area comps is what I try and shoot for. That way when shit goes south, you can still get your money back. Never look at CPI.
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Post by Sandbur on Dec 30, 2019 4:37:08 GMT -6
How do you track recent sales? It would be helpful to see what comparable properties sell for. Google MN ECRV. Has land sales for every county in MN. Land sales have to be publicly announced and in MN it goes through this service. Very convenient Looking at this on my smart phone and I can’t scroll through the top headings. Is the first name listed the seller or purchaser?
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