AUDIO: Randy Dickhut, Farmers National Company
For the last several years, ag economists, bankers, and even real estate agents have been predicting the land market bubble to burst. Well, it hasn?t.
?Land prices have softened over the last few years. Good quality land has declined, and low-quality land has declined a little more, but we are seeing some strengthening around harvest,? Vice President of Real Estate Operations at Farmers National Company in Omaha Randy Dickhut says.
According to People?s Company, Iowa had some good land auction sales the last few weeks. There were 55 tracts of land selling at auction between November 4th and November 10th. During these auctions, there was a total of 5,659 +/- acres available for purchase and of those acres, 4,660+/- were tillable acres.
Two weeks ago, 110.5 acres of tillable and recreational land sold in Mills County for $5,400/acre with a CSR2 of 76.5 on the tillable acres. Eighty-eight acres of tillable land sold in Sioux County for $13,200/acre with a CSR2 of 93.8 on the tillable acres.
Dickhut says we?ll have to see what lies ahead.
?Where are commodity prices going to be, where will interest rates go, will there any changes with trade or tax policy, that could affect land values?? Dickhut says.
Dickhut talked land values at the NAFB Convention earlier this month.
