Clues From Land Auctions

Published on: 16:18PM Nov 05, 2008

Mike Walsten

Our quick checks of recent land auctions indicates farmers and ranchers are still buying and paying up for quality land. But prices aren't where they were last summer when the market was red hot. We've seen some auctions for top-quality land bring prices not far off the summer high. And, we've seen others that seemed to be about 10% off the summer high, but still above year-ago levels. We've also seen auctions for lower-quality ground not go well -- "no-saled" for lack of bids or "no-saled" for failure to reach the reserve level. Here are a few sales:

Iowa, O'Brien County, Oct. 30: 160 acres, 159 acres tillable; $8,100. Vander Werff and Assoc., Inc., Sanborn, 712-729-3264.

Illinois, Logan County, Oct. 30: 105 acres near Lincoln; wraps around large hog operation; $6,075. Mike Maske Auction Service, Mt. Pulaski, 217-519-3959..

Illinois, Kankakee County, Oct. 30: 227 acres west of Kankakee; 167 acres tillable; 60 acres wooded; 2 acres farmstead; $5,917. Richard Resler, Schrader Real Estate & Auction Co., Inc., Bourbanais, 815-933-5864.

Illinois, Champaign County, Oct. 27: 69 acres near Broadlands, Embarras River cuts through property; $6,000. Gordon Hannagan Auction Co., Gifford, 217-568-7117.

Iowa, Hardin County, Oct. 24: 109 acres south of Eldora; 105 acres tillable; $4,625 an acre. 87 acres northeast of Eldora; 75 acres tillable; CSR 83.8 (72 county average); $5,050. Jeffrey Obrecht, Farmers National Company, Iowa Falls, 641-648-5065.

Nebraska, Holt County, Oct. 24: 600 acres north of Stuart; hayland, pasture, trees, creek, ranch-style home; $460,000 total or about $767 an acre. Robert Litz, Farmers National Company, O'Neill, 402-336-3500..

Minnesota, Cottonwood County, September auction: 160 acres southwest of Confrey; 103 acres tillable, 52 acres pasture; $2,998 per acre. NORTH CENTRAL Realty, Olivia, 800-545-6227.

Please email me with what's happening in your area.

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