Nebraska Farmland Setting Records At Auction This Week

Sunday, February 12th, 2012
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Nebraska has some exceptional farm ground, especially in the eastern half of the state and this week Nebraska joined Iowa and Illinois in breaking the $12,000 per acre mark on farmland.  The farm located north of Harvard Nebraska in the south central part of Nebraska was flat and 75% irrigated with 8″ gravity system.  Randy Ruhter, Auctioneer for Ruhter Auction and Realty Inc. was quoted by several news sources that he believed that it was the highest price every achieved by any auctioneer in Nebraska and I believe he is right, I watch auction outcomes closely in Iowa and Nebraska and I am also not aware of an higher price anywhere.  Several weeks ago 3 pivot irrigated farms in Adams County Nebraska farms brought $11,600, $11,700 and $10,800 all very solid prices!

 

Related Posts on DreamDirt TV:

  1. Crazy Question “Are We in a Farmland Real Estate Bubble?”
  2. Nebraska Farmland Price Record Set in Clay County
  3. Mahaska County Iowa Farmland Prices on CRI Weekly News

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CSR stands for Corn Suitability Rating which has a big influence on the value of tillable farmland in Iowa. CSR is an index procedure developed in Iowa to rate each different kind of soil for its potential row-crop productivity. Soil profile properties and weather conditions are the dominant factors that affect productivity. Slope characteristics are major factors that determine how land should be used. Slope gradient and slope length affect potential erosion rates, water infiltration, and ease and efficiency of machine operation. CSRs provide a relative ranking of all soils mapped in the state of Iowa based on their potential to be utilized for row-crop production.

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Real Estate Term: Pocket Listings

Have you ever heard an agent refer to a "Pocket Listing"? Pocket listings are farms we know are for sale, but not listed. In other words for one reason or another a person has told us "I don't want to list it but feel free to bring me offers" Sellers do this for various reasons, sometimes they don't want neighbors or family to know, sometimes they know several real estate agents and don't want to offend the other.

What you can't find in my listings, I may very well have as a pocket listing so its important to call and open the conversation, let me know what you are after and if I don't have it, I'll certainly keep an eye out for you and that doesn't cost you a dime!