Farmers || Future

A neighbors 160 acres are up for sale.  The lawyer sent out a newsletter stating the starting bid is set at $10,000.  That blows me out of the water before I even get my big toe wet. So disappointed.

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Comment by Brandon Maier on November 15, 2011 at 12:48pm

Im from North Central iowa and there are three guys who own 4500, 15,000+ and 20,000+ acres respectively all within 20 miles of me. Showing up to a land auction is pointless, they buy it for fun. Any chances of a young farmer (or any farmer) purchasing land in my area for a pair "average" price is slim and non.

Comment by Grant Hildabrand on November 14, 2011 at 4:46pm

I have seen situations where people would claim there to be a minimum bid, but it was never met and the property sold anyways.  If I were you, I would go on and submit a bid that I thought I could afford, even if it was less than the $10,000.  One thing I have learned, life is just one giant poker game!

Comment by Craig Bolte on November 7, 2011 at 10:25am
Doesn't surprise me any.  Prices are going to go up.  Any time crop price goes up 50% ($6 corn vs $4 corn) the land prices are going to follow.  Its just the way it is.  The way I see it is this - if we think we have money to buy more ground - so does every other farmer out there.  Then you get the city investors involved....  and it just keeps going.
Comment by Matt Folsom on November 7, 2011 at 12:37am

Around that Carroll area in Iowa prices are going to be real high.  Up in north central IA the drought has started to affect prices had a couple of recent auctions go nosale because they could not get over $7000.  Rent in this area went up big time this year $400 a acre is not unheard of we bid a farm it was 2   160's  we bid $400 on one and a 80/20 cropshare on the other and were out bid.

Comment by Jonathan Dansel on November 6, 2011 at 11:17pm

$10,000 per acre??? wow, I'm with ya, i put a sealed bid in on some ground in our area last winter and sweating the whole time that i bid way too much and would over pay...lol, i got out bid by $1,000/ac....wishful thinking of a beginning farmer in these times

 

Comment by K2 on November 5, 2011 at 8:27am
be the second owner....    Rent it for 400 dollars an acre....    Never give up.

 

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