central - east central Minnesota - | Know of 3 farmers that had their land tied up on option for 3 and 4 yrs. Got between 25 - 50 thousand down/interst for that time value. Really counting on "retirement". Last season, when the options came due, investors/developers walked. These were 3 - 5 million dollar sales. Now they learned the hard way - ouch, auction option may have been absolute and behind them. Not only that, but the value of the land is now droping. Ya, at some point it will have simular value and someone will acturally want it, but not now, in these econmic conditions. All of them had big plans for the windfall - blown all away now . . . . . |
Survival.
