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FARMERS NAT'L CO: THE LAND MARKET IS WAKING UP!
Aug. 20, 2019
Source: blog by Randy Dickhut, AFM, Sr VP - Real Estate Operations, Farmers National Company, Omaha, NE
The land market, the buying and selling of land that happens on a daily basis, normally slows down during spring planting and early summer as farmers concentrate on getting their crops up and growing. Landowners who are wanting to sell also step back somewhat during this time as they plan ahead for future actions in leasing and selling.
The 2019 season to date has had an almost unprecedented amount of uncertainties including weather, flooding, planting delays, government program changes, trade issues, and grain prices. These uncertainties, with late planting being the most prominent, slowed buying and selling interest more than usual during this time frame in 2019.
But now, the land market is waking up!
Farmers National Company's auction and listing activity has definitely picked up over the past month. Sam Kain, Area Real Estate Sales Manager, is expecting a busy fall season for Farmers National Company as many Iowa land auctions are already scheduled and more are in the works for post-harvest. Sam Kain also reports that land prices are holding mostly stable for good quality Iowa land with some recent Farmers National Company auctions stronger than expected. Kain is also seeing some larger acreage tracts than normal coming up for sale.
Paul Schadegg, Area Real Estate Sales Manager, reports that the central and southern plains states saw good land sale activity throughout early summer with a number of strong auctions held by Farmers National Company. This region has a wide range of land including prime irrigated and non-irrigated cropland, quality grazing land, ranches, and timber properties. For some of the land in the central and southern plain states, buying and selling is not affected by commodity grain prices, but from livestock profitability or investor demand. Schadegg is observing increased interest in buying and selling as the summer progresses.
Sale activity for Farmers National Company is picking up in the northern plains and cornbelt region according to Brian Mohr, Area Real Estate Sales Manager. More auction sales are scheduled prior to harvest and other landowners who are thinking about selling are making inquiries to company agents. Mohr is also seeing some increase in the size of acreage being sold.
Roger Hayworth, Area Real Estate Sales Manager for the eastern cornbelt, says that this area of the grain belt is probably still experiencing the slowest land market due to the historically delayed planting season with many question marks out there concerning final crop production come fall harvest time. Due to the area having an increased level of uncertainty this season, the land market may continue to be slower and experience a little more pressure than some other areas of the country.
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