The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
A spate of Internet rumors sprung up in the last week concerning that eye-blinking $20,000-an-acre farmland sale in northwest Iowa late last year. Thrust of the rumor -- that it did not close. Contrary to the rumor, it did. Confirmation comes from Pete Pollema of Pollema Auction & Real Estate, Sioux Center, Iowa, who handled the auction. "It closed last week," he told us. "I've got the commission check.
"I don't know where that rumor came from," he continued. "I had several calls in the past few days asking the same question. The buyer had his financing lined up before he came to the sale and there was never a question that the sale would close," he told us.
By the way, here is an interesting story about farmland vales in general and Sioux County farmland in particular. Click here.
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Talked to Pete myself and asked him the same question after getting emails asking about it. Its very very rare an auction doesn't close, in fact I don't know of one, never had one not close.
I can't imagine land at $20,000/acre. And here's hoping my county council and commisioners who work up the property tax rates can't either!
But if they do I have some swampy bottomland along the Wabash I can sell you....