Land Sale of the Week: $9,900 per acre in Southwestern Minnesota

 
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Mike Walsten

A Feb. 25 auction of 60 acres near the Minnesota-South Dakota border saw a winning bid of $9,900 an acre. The farm was located 7 miles South of Jasper in Rock County. The land was gently rolling to rolling and featured an outstanding Productivity Index of 92.4. It featured 59.3 acres of tillable cropland. Approximately 17 acres were sowed to alfalfa. Handling the auction was Dean Stoltenberg, Pipestone Realty, LLC, Jasper, Minn., 507-348-7352.

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Comments

 
Spell Check

Ronnie
Dexter, MD
3/4/2016 12:12 PM
 

  My opinion is the real market is what it'll bring at an auction,what else matters?except if there was a buyer premium which lots of times there is but were never privileged to that info in these briefs, if there was one here would put it well over 10000,maybe some kind person will let us know so we can tell what the real value was.

 
 
Owen Gohlke
Arlington, MN
3/4/2016 09:49 AM
 

  We always see the high dollar sales chronicled.... sends the wrong message. How about the February 4th auction in south central MN with about 130 tillable acres out of 135 with a PI of 93 that stalled at $6850/acre and did not sell. The real market is in that range and it might take another year or so for people to realize it but with interest rate increases continue being discussed and commodity prices forecast to be .15 lower for corn in 2016 and similar percentages for soybean price reductions and my god, look at where wheat is, the pressure on prices will continue. Those of you that think this isn't the 80's all over again better wake up and smell the coffee. I have hoarded cash the past few years and now in the next 2 to 3 years that's where the bargains will be realized.

 
 
Clarence
Armstrong, IA
3/31/2016 05:41 AM
 

  I was appraising farmland in the early 1980s so called farm crisis and saw a similar pattern develop where if there was an auction where two fools with money butted heads prices soared and just down the road where cooler heads prevailed sales were flat. Eventually you run out of fools with money. Todays $3 corn is yesterdays $1.50 corn.

 
 

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