# Land Auction today



## swmnhay (Jun 13, 2008)

153 acre land auction today.They tried to start the auction at 10K no bids.Dropped it down to 5K no bids.Had a break and called the sale.Never got a bid.Not top notch farm but would of brought over 8K a yr ago.


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## snowball (Feb 7, 2015)

was it all Tillable swmnhay ? I'am guessing from what you said about the $ a year ago that is is, So i'am guessing the 3.80 corn and the 9.50 beans have started to put the pinch on dirt prices, I know that in parts of Ia. and Il. it has dropped 10 to 15%... JMO but it was time for a correction.


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## Bonfire (Oct 21, 2012)

swmnhay said:


> 153 acre land auction today.They tried to start the auction at 10K no bids.Dropped it down to 5K no bids.Had a break and called the sale.Never got a bid.Not top notch farm but would of brought over 8K a yr ago.


Was that surface rights or both?


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## swmnhay (Jun 13, 2008)

There is a drainage ditch that goes threw it and has a water way also.Looks to be 90+% tillable.It is 153 acres not 80.

http://www.landandhomeservices.com/listingdetail.php?Id=230&Farm=1


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## swmnhay (Jun 13, 2008)

Bonfire said:


> Was that surface rights or both?


HERE.All extra rights go with the land unless stated on sale bill.No oil or gas here.Wind rights is all I've ever seen get split here.


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## PaMike (Dec 7, 2013)

Its always interesting that land goes down when commodities go down. Its kinda funny cause we all know commodities will go up and down a couple of times in the course of the YEARS it takes to pay a farm off, but yet for some reason when corn/beans/cattle/milk are up land prices rise too. Even though everyone knows they will come back down...


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## 8350HiTech (Jul 26, 2013)

PaMike said:


> Its always interesting that land goes down when commodities go down. Its kinda funny cause we all know commodities will go up and down a couple of times in the course of the YEARS it takes to pay a farm off, but yet for some reason when corn/beans/cattle/milk are up land prices rise too. Even though everyone knows they will come back down...


Because people have to get the down payment money from something.


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## snowball (Feb 7, 2015)

8350HiTech said:


> Because people have to get the down payment money from something.


This is my high school education thoughts growing up on some of the best dirt that god put on this earth and then moving to a area where some of the diry was so poor you couldn't raise hell on it with a 1/5 of whiskey and a 5.00 hooker on a rainy Saturday night. Good farm land bad farm land it don't matter it is JMO but the value is based on a % OF WHAT IT WOULD CASH RENT FOR....Until you get to some areas were the ground is real good and not much comes up for sale or a area where the development is knocking on the door Then it's anybody guess.. just 3 yrs ago in the Ft. Dodge area in IA. there was a farm that set the record land price @16000 and some change per ac. to neighbors got in a biding war at the auction. When the winning bidder went to the bank to borrow some of the $ the banker ran him out of the bank. the contending bidder ended up with it @ his final bid. but he had to put up ground that had been in his family farming operation. for ever.... I wounder how he feels today ??? even if he can grow 250 bu. corn and 65 bu. beans and has a 400k combine and 300k planting setup running over that high $ dirt....I guess you got to pay to play


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## swmnhay (Jun 13, 2008)

snowball said:


> This is my high school education thoughts growing up on some of the best dirt that god put on this earth and then moving to a area where some of the diry was so poor you couldn't raise hell on it with a 1/5 of whiskey and a 5.00 whore on a rainy Saturday night. Good farm land bad farm land it don't matter it is JMO but the value is based on a % OF WHAT IT WOULD CASH RENT FOR....Until you get to some areas were the ground is real good and not much comes up for sale or a area where the development is knocking on the door Then it's anybody guess.. just 3 yrs ago in the Ft. Dodge area in IA. there was a farm that set the record land price @16000 and some change per ac. to neighbors got in a biding war at the auction. When the winning bidder went to the bank to borrow some of the $ the banker ran him out of the bank. the contending bidder ended up with it @ his final bid. but he had to put up ground that had been in his family farming operation. for ever.... I wounder how he feels today ??? even if he can grow 250 bu. corn and 65 bu. beans and has a 400k combine and 300k planting setup running over that high $ dirt....I guess you got to pay to play


We still have some fools bidding rent to $400-450 acre.IDK how they figure on not loseing $$ on it.Some use the argument just to get it with better times ahead.Extension service has the county average @ $250 an acre.IDK how they come up with that?I didn't tell them how much rent I pay!!This reminds me so much of the 80's only thing different is the interest rates.But the rent and land bids reflect the low interest.


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## snowball (Feb 7, 2015)

swmnhay said:


> We still have some fools bidding rent to $400-450 acre.IDK how they figure on not loseing $$ on it.Some use the argument just to get it with better times ahead.Extension service has the county average @ $250 an acre.IDK how they come up with that?I didn't tell them how much rent I pay!!This reminds me so much of the 80's only thing different is the interest rates.But the rent and land bids reflect the low interest.


So True swmnhay So True.. they need a douse of that 18% interest I still have copies of some of my operating notes form those great yrs .. just to remind me of the many years of PBJ sandwiches I was eating on 2 week old bread.. ya the good old days


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## PaMike (Dec 7, 2013)

Time for me to pack my bags and head west! I was but a teen the last time good ground was 10K an acre...


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## snowball (Feb 7, 2015)

PaMike said:


> Time for me to pack my bags and head west! I was but a teen the last time good ground was 10K an acre...


I'am not trying to dig up old dirt (No Pun Intended) PaMike. But remember what I posted on your thread ?? But I also know you got a business back there so you just can't walk away so easily... You walk around my area with 5k a ac. in your hand and you would own a pretty nice rolling farm, that would grow 170 bu.corn and 8 ton of alfalfa & all the cheese curds that you can eat.. It's better ground where swmnhay is at though


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