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land auction
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redoak
Posted 11/26/2014 05:54 (#4201995 - in reply to #4201988)
Subject: RE: land auction


sw ontario
CCGreen - 11/26/2014 06:44

NW Ohio seems to be all over the board. I have seen farms sell for just under $5,000/ac (hard ground to farm and was cut up by fencerows into pretty small fields) to over $10,000/ac for woods (not even valuable timber). I'd say the average that I've seen in the Hancock, Seneca, and Wood County area is probably still around $8,000/ac but seems to be very dependent on who shows up to bid and what kind of money they have/want to spend. Definitely a few "bargains" out there to be had, but I'm seeing more private sales where guys are buying cash rented farms that they have rented for the last few years.


CCGreen -what you said pretty much covers the land mkt. 30 miles east of Detroit price wise & demand wise ... young guy here paid $8k for some farms last spring ,his late grandfather,father never really bought much so he is spending there money.......and he has only really farmed 6 yrs. after his Dd passed and left him financially set up.....my banker says about 75% of there land loans are to farmers buying land that they have rented long term.......LL are cashing in at the top ,,, you think $200 rents here are expensive,$8k land even @ 4% that has to be paid with after tax income will be even more painful.......not sure what a "bargain" is today, corn,bean,wheat prices are same as 10 yrs. ago but inputs are 2X and then land was less than $3k
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