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pricey farmground

Discussion in 'Off Topic Threads' started by dbcook, Feb 21, 2009.

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  1. dbcook

    dbcook TS Member

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    i was in storm lake iowa last nite.a man told me that some ground sold for 7 grand an acre near there. .in the paper today i read where 2 different parcels of farmland near prairie city iowa brought $7050 & $6850 an acre.parts of iowa has as good of farmground as you will find anywhere on this continent but i didn,t know it was quite that good. i guess the down economy hasn,t affected every one. dwain
     
  2. g7777777

    g7777777 TS Supporters TS Supporters

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    It will- ethanol subsidies end in 2010 and the rest of the world will soon pressure us into ending those subsidies- the sugar cane subsidies and the rice subsidies that we have paid.

    Farm land will tank—and as it goes down- the foreign owners will sell and that will cause it to cascade downward.

    Regards from Iowa

    Gene
     
  3. dbcook

    dbcook TS Member

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    i don,t know if the buyers were dutch or not but the same man in storm lake told me of a 2000 cow dairy operation that just went belly up & if i remember correctly i think he said it was near holstein iowa, which is near storm lake.dwain
     
  4. tachyon

    tachyon Member

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    I do not understand how anyone can make a go of it when buying land at $7,000 an acre. Between the mortgage payment, taxes and cost of production corn would have to be $10.00 to make a profit. We are already seeing a drop in demand as gas usage goes down and ethanol demand also goes down. When the subsidies stop in 2010 I expect prices to tank.

    The downside is taxes are going up based on these sales. When the market drops the county assessor does not follow with a drop in assessed valuation.
     
  5. Bocephas

    Bocephas Well-Known Member

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    There is some farm ground in IL. that sold for $8,000.00 and $9,000.00 per acre.

    This is crazy.The same thing happened when Carter was in.I was at a sale the farm brought $3,200 per acre.Less than two years the person that bought it lost it.Corn has went down big time,as all grain.The farmers around here rang the bell last year.But,watch next year.There will be more Soy beans planted than corn due to the cost of seed corn and fertilizer.

    Watch the grain futures,corn may go back up.

    Farm land was at a record price in 1929,look what happened.

    Bocephas
     
  6. WesleyB

    WesleyB Well-Known Member

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    500,000 toy?? get real.
     
  7. WesleyB

    WesleyB Well-Known Member

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    Dont guess i have 221 maybe explain?
     
  8. BAD 303

    BAD 303 Active Member

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    In central Illinois there have been several farms sell over 7500 per acre. One auction last fall two tracts brought 9000.00 and 8350.00 per acre. Farm ground has always been a place to make a steady rate of return over say 20 years. I think that trend has ended at these prices. One thing to remember though is there will never be anymore ground made. I have 98 acres i would sell for 9000.00 an acre and smile all the way to the bank. It might bring it so i am afraid to list it cause i love hunting on it.
     
  9. KEYBEAR

    KEYBEAR Active Member

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    FarmGround They stop making it along time ago .
     
  10. Bocephas

    Bocephas Well-Known Member

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    Bad303,I am from central IL.Glad you posted, most people may have not believed this price.

    Bocephas
     
  11. WesleyB

    WesleyB Well-Known Member

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    what size farms are being sold at those prices?? 10 acres 20?? or 1200?
     
  12. WesleyB

    WesleyB Well-Known Member

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    221 if it is so good.. Is there farm land in your state you can buy and cash in? Tractor pulling yep i dont see how they afford those. I understand farms have payment limits. On the other hand Doctors have no payment limits on what they can draw from the goverment. Does this ewg have info on what goverment monies goes to them>? I bet real ole dirt farmer are not paying that kind of price for crop land. Ever put a calculator to the crop prices.. and yields ... and the inputs it takes to make those yields? Also like you said 500,000 toys,,, but real equipment to till the soil,, plant and harvest the crops cost into the millions. Call a tractor dealer and check it out. This whole US is in the toliet. Farms, Businesses, Jobs,, and more that my little ole pea brain can think of. I dont think the sky is falling but I do believe things will get much worse before they ever get better.
     
  13. BAD 303

    BAD 303 Active Member

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    The farms i see selling over 7500 an acre around here are mostly 100 to 400 acre tracts. The smaller tracts are doing just fine as well.
     
  14. Fast Oil

    Fast Oil TS Member

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    77 percent of all farmers and ranchers do not collect government subsidy payments in North Carolina, according to USDA.

    • Among subsidy recipients, ten percent collected 91 percent of all subsidies amounting to $2.75 billion over 12 years.

    Some of them must know how to work the "system".
     
  15. g7777777

    g7777777 TS Supporters TS Supporters

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    This thread was about farmland--- farmers themselves work hard and take huge risks each year-- they deserve to make a good living
     
  16. BAD 303

    BAD 303 Active Member

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    Those of you that want some of that easy subsidy money can get it. Just go out and spend about 10 million and get started. You really show your lack of intelligence with some of the comments here. Go out and price todays equipment and see what it takes to put a crop out only to hope it gets the right conditions to actually produce and make a profit. Then you get to hope the prices are high enough to get by til next season. I wish farmers would unite one year and not sell their crops. Then we would see what people take for granted. No farmers no food it is that simple.
     
  17. Lead Man

    Lead Man TS Member

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    Coming from a farm family who over the years have seen property prices go from the way high $200\acre to today's prices, I can say it is unreal. I have seen land under 100 acres sell as high as $10.000 per here in middle TN. Goats can't survive there much less row crops or cattle. It is just plain crazy.

    Also as a former farmer who never took government money when offered I can honestly say farm subsides are not deserved. The small guys does'nt benefit anyway, hell just ask ADM\ Archer Daniels Midland who were the largest beneficiaries in 2003. They are the ones with the Washington connections.

    When the government pays a land owner not to farm it amounts to no more than welfare collected by the ghetto mongers or banks they are bailing out now. I don't like welfare in any form corporate, farm or the ghetto mongers. No one deserves to make a living from my money unless I decide to buy their product or service. Before I get the remarks I do grow my own food for the most part. Farming is an honorable and hard life, just doesn't need to be subsidized (constant bailout).

    Bottom line is when property does make the adjustment and it will, have cash and forget about mortgages that got us into this mess to begin with.
     
  18. 50calshooter

    50calshooter TS Member

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    I am a 4th generation farmer in NeKansas land here is $2000 for hill ground and bottom ground in the low $3000 when it does sell which is rare. And some of you are right it will not pay for it's self. Most ground is bought by people who have farming in there blood and will work that ground till the day they die. As for goverment money the small farmer almost never sees any money it the big corporations who get the kick backs that have the money and time to apply for all the grants. The small farmers like me are a dying breed and you can thank our goverment.
    As for some of you think about the small farmers who do everything them selves and apperaciate these people. Cause if you every want to talk to a intelegent man talk to a farmer who has been in business for 20 years, he will know business, tax laws, construction, maintaince, mechaincs, pluming, electical, concrete and every other type of manual work cause we have to do everything our selves to make a living.
    Then feel sorry for us as we can not compete in a world market with the tax and labor cost we have here. I pay a average of $15 a acre in taxes and my ground is average.
    As far as uniting and not selling anything big dream, the taxes and expence to live would cost you everything and Obabama would make you a traitor and take your ground and give it to his people. So we could all be even. thanks for listing to my rant and know that most small farmers do farming for love of the crop and not to make a million.
     
  19. ec90t

    ec90t Guest

    Amen 50calshooter,

    When the last family farm is gone, so will our country. The problem is that no one see's that.

    ec90t
     
  20. perazzi2005

    perazzi2005 Member

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    I don't know how the farmers can do it--------BUT I sure am glad they DO... dave oberst
     
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