Columbia Basin, Ephrata, WA | sand85 - 3/30/2020 21:17
What’s so hard about that?
Here there are no recent sales for comps, just print out a blank report with some old comps, some narrative about low cap rates, low interest rates, and lack of supply maintaining land values. Same narrative as the last 10 years.
Write in the legal description of the farm, get the acres accurate and multiply by land value, and send it out the door.
It’s not even close to that simple here.
Irrigated land varies by water allotment amount and type, irrigation method and age of equipment, soil type, location, terrain, building sites, proximity to urban development, potential for orchard development, etc.
Dryland varies mostly by rainfall, and that can change by the mile in some locations. From there you have to consider soil type and slope, usefulness of out ground, county insurance rates, proximity to river or rail terminals, water availability (just getting enough water for a cattle trough is a significant challenge in some places), roads, buildings, and all the other usual stuff.
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Farmland Mortgage Refinance Interest Rates
