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Things that make me go Hmmmmm....Land Prices

I personally do not buy those farms .. unless they are just dirt cheap . I like income on my farms (crop or CRP). Then I can justify it to my wife (as an investment)!!;)
 
CottonwoodCanyon said:
Another WRP just hit the market in Keokuk co. 175ac for $5,150 . If that doesn't tell you that rec is holding strong, I'm not sure what will.
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Just my opinion, but that piece has some cool elements but also potentially terrible boundary headaches, depending on neighbors. It is listed fairly high, IMO, but it is one that I wouldn't be surprised to see actually sell for much less $$. Time will tell.

There have been properties listed "high" to pick off someone that has a lot of money to burn that then don't sell that high when cooler heads get involved. Prices are still "up there" and for really good pieces, I think they will still get higher prices. But for marginal properties...there have been quite a few, "Price Improvements", etc, in the last year or so.
 
Hardwood11 said:
In this case I think it is a USFW easement. You cannot plant any crop, minimal food plots, can’t build on it …

Pasture only , maybe some cutting of hay after August 1.

The land sold after the auction… guessing around $2000/acre .
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Define build...I can make a sweet home out of couple moveable conex containers. Just no permanent structure correct?
 
Hardwood11 said:
I would have never guessed that WRP would ever sell for 5000 acre ?

Keep in mind the current owner probably received 5-7k in WRP easement money ? He’s gonna make bank !!
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5,000 per acre in easement money? Lump sum? Sorry for the dumb question. Don't know anything about this.
 
northcedar said:
5,000 per acre in easement money? Lump sum? Sorry for the dumb question. Don't know anything about this.
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If your land qualifies for WRP, or the official term is WRE … you can get $5000 per acre or more , paid to you. Lump sum .

Those acres can never be farmed & have further restrictions. Mostly crop land that floods or was a wetland/tiled.

—30 year easements & permanent easements!
 
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I have been thru this process in depth with local and federal offices so I will give my experience on these programs. The program the previous owner enrolled in was 50 years. Previous owner received bank note paid for, so for them I am sure it was worth it. I was able to get the last farm in SE Iowa sub 2.3k an acre.

Cannot harvest crops or timber.

You can pay to take acre or acres out of the program as you want. At one time I was going to build on that farm, it was not an issue as long as I paid to remove that 1 acre where house and shed would be. I believe it was around 4k an acre and I could pick whichever acres to remove from program.

You can plant food plots and do TSI as you wish.

I do receive some CRP money that previous owner enrolled in, it is along the creeks. (small amount but enough to cover the taxes)

Currently I am going back and forth with the office about trying to get white oaks harvested as they will not not last the 30 years left on this contract. I have mature timber where the tops have blown off and trees have died, still could be harvested but won't last but maybe another year or two. I have made the argument about how this program is in the spirit of nature and conservation and getting rid of these big oaks would promote regrowth and food for animals.

It has its pros and cons but at the price I bought it for it was worth it to me to be just a deer farm.
 
This market is odd. I’ve seen some farms sell very high, and then I’ve seen a few sit on the market and maybe even go below market ?

There might be some buyers taking a break until they know what the future looks like with commodities/CRP/timber value etc…
 
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