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SE MN | Don't keep careful track, but it does seem like there has been in increase in acres sold. Price is very dependent on who is interested. 700 acres just sold for 14k at auction to the owner of the local concrete chain who likes to farm for fun. If he isn't interested, price would have been about 10k for good ground. Have recently seen ground with lots of fences, trees, sink holes, wet spots, and a bit unusable go for 6k.
What really seems to control sales volume is that the basis step up rules mean that unless the owner wants the money now, it won't sell until they are dead. So it spends 20 years with the fences rotting and trees growing in from every direction while a renter spends as little effort possible flying over it. If stuff sold when it should, things would get cleaned up and be better taken care of and there would be some actual liquidity in the market. | |
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Land Sales on the increase
