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AUDUBON COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
CARROLL COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
SAC COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
GUTHRIE COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
GREENE COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
CALHOUN COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
POWESHIEK COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
Iowa Farmland Values
Dubious Farmland What is dubious farmland? Uncertainty! All we have heard for the past month is that interest rates are rising and that farmland is going to come to a crashing halt. We have not seen any indication to a slowdown from our perspective. We have seen increased acres hitting the market and prices continue to stay steady, if not climb. We feel that interest rates will affect the housing market stronger than it will affect the farmland market. When we think of all the things that can affect farmland prices (CSR, farm ability, interest rates, 1031 exchanges, foreign trade, foreign conflict, commodity prices, government programs, MFP, PPP, equipment costs, input costs, equity, and local buying power), we weigh the commodity prices at a 60% value compared to all the other items. As long as we see the grain markets hold strong, we will see the land market do the same. On nearly every auction we book, we get a call prior to the auction to purchase the farm and cancel the auction. The Auction method is the way to sell your farmland. True price discovery! The last 4 farms we have sold have exceeded our expectations as well as any offers received prior to the auction. Results from the 62 Auctions (5,589 acres) this last month have the average for the state at $12,293 high quality ground at $15,314/ acre, and medium quality ground averaging $9,402/ acre. Low quality ground has remained steady at an average of $6,000/ acre. Our Mission; Is to be your “Trusted Advisors”, Our obligation; is to market your farmland to the largest audience yielding you the most successful outcome! David & Ann Whitaker | When you think of Farmland Think of US! Iowa Land Values by CSR Score: Green= 75-100CSR Tan=50-75CSR Orange= less than 50CSR Farmland in Iowa by Acres SoldRead More
TAMA COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
GRUNDY COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
WEBSTER COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
DALLAS COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
POLK COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
JASPER COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
HARDIN COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
MARSHALL COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
HAMILTON COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
BOONE COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
STORY COUNTY, IOWA | FARMLAND PRICES, APPRAISALS AND AUCTIONS, WHITAKER MARKETING GROUP
Iowa Farmland Value
If your paycheck depends on the weather! Markets are strong with $8 Corn and $16 Beans, if we can get the weather to cooperate and get a crop in the ground. The volume of acres we are selling is up again. There is still farmland hitting the market. We have heard nothing but talk of interest rates on the rise. This may affect houses more than it affects us in the land market. (Looking back to 2008 when the housing market crashed, and farmland did not.) Farmland is purchased from a position of strength. There is a lot of equity out there. We are continuing to see absentee landowners decide to sell the farm to capitalize on the high land prices. The data indicates that highly tillable land is still selling at an increased rate. “Good farms, sell good!” The Auction method is the way to sell your farmland. True price discovery. The last 4 farms we have sold have exceeded our expectations. Results from the 78 Auctions (8,865 acres) this last month have the average for the state at $12,161 high quality ground at $16,015/ acre, and medium quality ground averaging $9,179/ acre. Low quality ground has remained steady at an average of $5,800/ acre. Our Mission; Is to be your “Trusted Advisors”, Our obligation; is to market your farmland to the largest audience yielding you the most successful outcome! David & Ann Whitaker | When you think of Farmland Think of US! Iowa Land Values by CSR Score: Green= 75-100CSR Tan=50-75CSR Orange= less than 50CSR Farmland in Iowa by Acres Sold Farmland Values in Iowa across the stateRead More
Should you do an Auction or Listing?
When selling Farmland should you do an Auction or Listing? You have finally made the decision to sell your farmland. Now the next big question may be how you should sell it. You have a couple of ways you can sell it either a listing or an auction. Listing the Traditional Way Listing is the traditional way to sell it. Which entails coming up with a list price that you think it may be worth and then waiting and hoping for someone to come in with an offer. This wait could take days, weeks, months or even years. Then when an offer does come in, it may or may not be your asking price. Using an Auction to sell The next way is by Auction. When people hear the word auction, they tend to get nervous, most of that being because they aren’t familiar with how they work. With an auction, you don’t name your price. You allow the buyers to name it for you. You will need to find an auction company that is reputable and search for one that has their . They know their job well and they will get the news out about the auction to everyone that possibly can bring demand and want for your farmland on auction day. Auctions are very competitive and with the changing technology, they have become more competitive by allowing people to bid online no matter what state they are in, while at the same time filling a room with people to bid in person. Your land is worth only what someone is willing to pay for. An auction will show you what it’s worth, and it also provides you with a definite sell date which a listing can’t do. What’s Your Farm Worth? Are you ever wondering what your farm my be worth? We can provide you with a . Read More
Farmland Values in Iowa
The RLI Iowa Chapter released the March 2022 Farmland Values in Iowa Survey. The results of the survey show a 14.1% increase on a statewide average for September 2021 to March 2022 time period. shows a 29% increase year over year. The REALTORS® Land Institute - Iowa Chapter is pleased to announce the results of our March 2022 Land Trends and Values Survey. REALTORS® Land Institute is an affiliate of the National Association of REALTORS® and is organized for REALTORS® who specialize in farm and land sales, management, development and appraisal. Participants in the survey are specialists in farmland and are asked for their opinions about the current status of the Iowa farmland market. Participants were asked to estimate the average value of farmland as of March 1, 2022. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information. The results of the September survey show a 14.1% increase on a statewide average for the September 2021to March 2022 time period. This is following March 2021 to September 2021 time period that showed a 18.8% increase, giving us a year-over-year increase of 32.9% for the State of Iowa. These results will come as no surprise, as record auction prices continue to be reported throughout many counties in Iowa. Pastureland (up 12.3%) and timberland (up 11.2%) followed the same trend as Cropland acres with consistent gains across the state over the last 6 months. Survey respondents indicated that commodity prices are currently the largest factor driving farmland values higher. Current interest rate levels and the low supply of land being offered to the market were secondary factors adding strength. The survey found the current buyer pool for farmland is made up of approximately 65% Farmers, 19% Local Investors, and 16% Non-Local investors. Chapter's Farmland values survey has been conducted in March and September since 1978. This survey plus the are activities of REalors specializing in agriculture land brokerage daily. REALTORS®Land Institute –Iowa Chapter March 2022 Land Value Survey Press Release Participants in the Survey Asked for their opinions about the current status of Iowa’s farmland market. Asked to estimate the average value of farmland as of March 1, 2022. Estimates are for bare, unimproved land with a sale price on a cash basis. David Whitaker - Iowa Land Guy Read More
A new 2022 state record was set at auction by Whitaker Marketing Group
For Immediate Release: 3/9/2022 Hospers, Iowa – Iowa farmland prices have been on the rise for months, and a new 2022 state record was set at auction by Whitaker Marketing Group on March 8th in Sioux County, Iowa. Thirty-eight acres of farmland sold in or $24,498.60 per tillable acre. "There are a multitude of factors that impact farmland prices." David Whitaker of Whitaker Marketing Group said, "Competitive bidding and utilizing the auction method of marketing is the way to sell your farmland in this market." "The market is still trending upward," stated Whitaker. "Markets are emotion, and the emotion is strong towards farmland." We have started to see a rise in farmland prices over the last year. In 2021 the market is up over 35% this year. Overall, there is talk of opportunities in the market for the future. Age, industry, geography, cash, 1031 tax-deferred exchange timelines, foreign trade, banking/USDA, inflation, and interest rates all play a part in the current buyer's decision-making process. The market is staying stable at these higher prices due to local buying power. 82% of farms in Iowa are owned free and clear. There is a lot of equity and cash available from local Iowa buyers keeping the price of land strong. There are 35.7 million acres of farmland in Iowa, and it is estimated that 10% of it changes hands each year. In the years to come, we will see one of the most significant transitions of wealth change hands to the next generation. Some may keep the land, and some may sell the land and cash out. All buyers have one thing in common. They all are interested in land ownership, and they all want to buy more—what a fantastic time to sell. Interest rates are historically low, stock market prices are moving investors to one of the most stable investments, land. Commodity prices are high, and the supply is low! ### Read More
Lots of Land Moving
Lots of Moving Parts! March is here and we are gearing up for planting season. The past month has had a lot of moving parts. Iowa sold more acres in February of 2022 than we did in 2021 and that was a high year. Since January I have been watching the farmland prices of all companies to get the pulse of what was going to happen in 2022. We have seen a steady to stronger Farmland Market. With the conflict in Ukraine, we have seen the commodity prices increase. I have said it before that “markets are emotion”. When the market is good the emotion and tenor is good. With the conflict we will begin to see some uncertainty that will cause an emotional roller-coaster. We will be watching to see how China reacts as well as watching the euro markets. We have more and more people calling that are heirs to farmland that want to capitalize on the market trends we are seeing. Get ready for more land to break loose and get your purchasing power in order. There is 35.7 million acres in Iowa. It is estimated that 10% of land changes over to a new owner each year. With the Baby Boomer generation starting to transition. There will be one of the largest transitions of wealth unfolding. I wish I had a crystal ball to tell you all what farmland is going to do regarding prices, but I do not. Here are the Facts: We have heirs getting farther removed from the farm. We have a transitioning generation. We have high commodity prices. We have increased risk for all farmers (Money is made in the margins!). We have increasing interest rates (However, they are still historically low). We have a ton of equity in the currently owned farmland. We have investors hedging against inflation and buying farmland. We have investors trading ground and a timeline to utilize their 1031 like kind exchange. We have increasing fuel prices and a government that may make exceptions on ethanol. We have profit in 2021 for most farmers. We have a foreign conflict that is affecting the bread basket of Europe . We have a market that hinges on foreign trade. We have increased inputs that will narrow the margin for 2022. Results from the 78 Sales (8,605 acres) this last month have the average for the state at $11,193 high quality ground at $13,942/ acre, and medium quality ground averaging $8,331/ acre. Low quality ground has moved up at an average of $6,275/ acre. Our Mission; Is to be your “Trusted Advisors”, Our obligation; is to market your farmland to the largest audience yielding you the most successful outcome! David & Ann Whitaker | Iowa Land Guy When you think of Farmland Think of US! Read More