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Jesup, IA | Land sale & rental auction this morning about 45 minutes NE of me. Very good soils and topography. The word was the fertility was very low based on prior cropping history.
http://donnellyauction.com/Home/Michels%20Auction%20FINAL.pdf
Tract 1 (40 acres m/l) went for $10,900 to family originally from area, owns other rental/investment farms in community.
Tracts 2/3 (120 acres m/l) went for $8100 to aggressive area farm family. Wouldn't surprise me if they were bidding for an investor/landlord. Bankers are quite shaken that such high quality land went for this price.
Rental land (300+ acres) went for $333 on a two year deal. Aggressive operator with home base a county away, but farms more in this area. Operator also runs a trucking business.
High, low or just right? I am personally acquainted with buyer of the 120 acres, but have no doubts the checks written today by all will cash and credit will be available where/if needed.
Edited by Ben Riensche 1/23/2016 12:08
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- Sale: $10,900/$8,100 Rent: $333 - Ben Riensche : 1/23/2016 12:06
- RE: Sale: $10,900/$8,100 Rent: $333 - dittfarms : 1/23/2016 12:15
- RE: Sale: $10,900/$8,100 Rent: $333 - Rolinacres : 1/23/2016 12:47
- RE: Sale: $10,900/$8,100 Rent: $333 - frytownfarmer : 1/23/2016 13:09
- RE: Sale: $10,900/$8,100 Rent: $333 - Noah : 1/23/2016 15:17
- RE: Sale: $10,900/$8,100 Rent: $333 - Brandon SWIA : 1/23/2016 15:49
- RE: Sale: $10,900/$8,100 Rent: $333 - humblefarmer : 1/24/2016 08:51
- RE: Sale: $10,900/$8,100 Rent: $333 - McFarmer : 1/24/2016 09:37
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Sale: $10,900/$8,100 Rent: $333
