For farm land? No. That's development prices.
This will be a popular investment for athletes though. Raef LaFrentz bought some farmland in Mitchell County last year (north of St Ansgar near the MN border). I ran into him leaving the St Ansgar Casey's a few weeks later.
Random sidebar, but I just happen to see him out and about like 5 times a year. Granted, there aren't many 7 footers in Decorah, but it always surprises me.
The first time I saw him out in public after I moved to NEIA, I went on a minute long spiel to my wife (we were eating supper at the same restaurant he and his wife were) about how he went to Kansas but lost to ISU in the final Big 8 championship.Raef LaFrentz has 4 sons that go to Decorah. Will be interesting to see how good they end up being.
Can't picture you doing that at all...The first time I saw him out in public after I moved to NEIA, I went on a minute long spiel to my wife (we were eating supper at the same restaurant he and his wife were) about how he went to Kansas but lost to ISU in the final Big 8 championship.
It was very much the real version of the meme of a guy in a bar yelling into the girl's ear while her eyes are glazed over.
You must know me in real life!Can't picture you doing that at all...
Buying farm ground in Midwest today and trying to pencil out a return ( within a 5-7 year span) is almost impossible. There are multiple entities, both publicly traded and privately held that buy farm g round for individual investors or even large hedge funs like TIAA Cref. Today actual farmers are paying too much in the Midwest and most of these firms are buying ground else where.
Personally, this does not bother me Because most of these individuals or entities will eventually sell out. The one that I like the least is the Morman Church. They have been one of the largest ag landowners in the country for a long time. And that ownership will go on indefinitely, long after Bill Gates, and Joe Burrows are gone.
Decatur County if I remember right. Or maybe Ringgold county.Mike Trout bought land to deer hunt in SW Ia several years ago. Building palatial digs there now.
The first time I saw him out in public after I moved to NEIA, I went on a minute long spiel to my wife (we were eating supper at the same restaurant he and his wife were) about how he went to Kansas but lost to ISU in the final Big 8 championship.
It was very much the real version of the meme of a guy in a bar yelling into the girl's ear while her eyes are glazed over.
Ringgold, SE of Mt AyrDecatur County if I remember right. Or maybe Ringgold county.
Exactly. This is a playground purchase. Come shoot deer, drink beer, and not be bothered. "48k per acre? whatever I just want my space."Mike Trout bought land to deer hunt in SW Ia several years ago. Building palatial digs there now.
I believe the oldest son is a freshman right now and is at least 6'8" already.Raef's wife is from my hometown and her brother was a pretty good basketball player as well. Played for Creighton. Her dad pitched in the minors as well. Raef's kids definitely have good genes.
Kurt Warner owns land on the Yellow River between Volney and Effigy Mounds. Absolutely gorgeous property. You can canoe through there.Mike Trout bought land to deer hunt in SW Ia several years ago. Building palatial digs there now.
10 years ago we had 12-13, today is 14-17 for my area along MN border.Realistic price these days is 15, 'maybe' upwards of 20k per acre. Price has gone up a lot. Maybe 10 years ago top Iowa farmland might go for 10k an acre.
If they are paying this for bare farmland, please have them contact me ASAP.104 acres for 5 million is a shade over 48K/acre.
I know a farmer with land around Granger that developers really want. He tells them find me 2 acres of good farmland somewhere else for every 1 of mine you want and we’ve got a deal.Would be interesting to see if the land is in an area that could be developed within the next 10-20 years as that is about the only reason you would pay that much an acre. It says northern Iowa so that is pretty vague. I know some farmland near my parents in Dallas county that recently went somewhere around the 12-14k an acre range but it is actually farmland and nowhere near somewhere that is going to be developed.
Also know some people that have been farming for multiple generations just west of Waukee that finally caved in and sold some of their land to a development with the condition that they would be able to farm some land that developer owns just south of them that they aren't building anything on yet so they still are able to keep farming roughly the same amount of acres they were before they sold them the land.