by Ben Nuelle
Over the last year, there has been a value decline in tillable and pasture acreage but timber value increased.
Joey Purpura is a Land Agent for Midwest Land Group.
He says he’s seen an increase in timber value over the last year to year and a half.
“Some of that land people are using more from a recreational standpoint with hunting and people have a good amount of disposable income with the way the economy’s been but with the depress commodity markets we’ve seen a decline of about three to five percent depending on the area.”
Purpura says land values depend on what the markets start to do.
“We’ve had a really strong U.S. dollar which makes it really hard for us to compete on an export basis with our commodity prices. I think a lot of what farm values is going to depend on what the markets start to do coming into 2017.”
Purpura says they’ve seen a lot of larger farmers take less productive ground and selling it.
“Like the timber acres maybe having those surveyed off from larger pieces of tillable to go ahead and sell those to capitalize on the high land values we do have right now. I think that is a good indication there are some ways to capitalize on higher prices while we still have them.”
Midwest Land Group specializes in farmland, recreational properties and investment properties. They are brokered in Iowa, Missouri, Oklahoma, and Kansas.