Land Value

niceshot said:
80 acres unimproved Sioux County farm land went for $13,800 per acre at auction.
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Some people like to work there whole life for nothing I guess. A farm by me went for $7000 would of went higher but dad stepped in and stopped his son. I thought that was crazy looks like a deal now:D
 
The EPA is requiring so much land per animal for a manure plan, so the large hog and cattle operations need the land to spread manure, therefore the potential income from crop production is almost not a factor.
 
Heard about that buy. You should have bought ground 10 yrs ago and you could have exchanged for a couple sections in SD. It's going to be impossible to save up and buy land in Iowa. Now, I have to win the lottery.
 
That ground is two miles from me. It did not go for 13800. It went for 13950.
 
I can sum it up with a single word...insanity.
 
Is there a reason they can't put the manure on other farmers ground? And have the farmer pay spreading and a little for the manure. Seems like that would be easier on bank account:)
 
I am familiar with the circumstances of that sale. 80 between two big landholders,with a ton of equity in their existing land, both wanted it, only chance in a generation to acquire it, both have lots of cash, and a low dollar cash basis in their existing property. So for instance if you paid $500.00 per acre for your ground avg. eons ago, and a whole lot did, you add a mere 80acres, even at that exhorbitant price it doesn't add much, spread out over 2500 or more, other acres. As far as manure spreading, any new enterprise for confinement livestock must control permanent access via deed or deeded easement to spread manure on enough property to dispose of it safely. Iowa has an exemption for hog confinement under a certain number of head. Contrary to the conjecture voiced earlier, manure spread had nothing to do with this purchase. Just optimistic farmers with a lot of cash and a big balance seets who would rather own the ground than have the cash in the bank. Sales in excess of 7500.00 per acre are common in that area, even on tracts of 160@ and up. Most are sold to neighbors with no auction or public marketing. I'd lot rather be a seller than a buyer at those levels, my sense tells me I'll be able to buy it back cheaper in my lifetime.
 
People can do what they want. I had 1000000 in the bank I wouldn't spend it on more ground or atleast not on just 80 acres. I might think about going to SD to hunt pheasant though:D
 
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