Farmers National Reports an Increase in Farm and Ranch Land Sales
Farmers National Company reports that real estate sales volume is up 21% during the first half of its fiscal year compared to last year and up 38% from a year earlier with an increase in both individual sales transactions and acres sold. The acres sold by the company are on the increase as well, increasing 10% from last year and 27% compared to two years ago. Transaction volume has also been on the increase, up 47% over the last two years!
When asked why Farmers National Company is seeing a significant jump in its real estate sales, Randy Dickhut, senior vice president, notes, "Our sales activity continues to be driven primarily by the non-operating landowner. So far, few farm operators are selling land and investors continue to be in the market looking for opportunities to add acres to their holdings. The slow decline in the land market is part of the reason some are selling"
Some landowners are making the decision that now is the time to sell and capture some of the land appreciation of the last few years. Dickut also mentioned that there is still good demand for land in most of the company's 28-state service area. "The number of buyers and sellers for good land in most markets is in equilibrium, and that seems to be helping our land sales. As long as the seller is realistic about today's market price for land in their area, there are buyers looking to buy. I credit our increases in the face of a slowing land market to our large network agents of educating their clients on the current market prospects."
Farmers National also reports continued strong land auction activity with a 12% increase in the number of auctions sales over last year at this time. The volume of listings for sale is also strong. "Having the ability to either sell land by auction or through a private treaty listing gives our sellers the most options to achieve a successful sale" commented Dickhut.
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Upcoming Land Auctions
· 1,390.50± Acres • Lucas County, Iowa
Tuesday, April 25, at 9:30 AM. The auction will be held at Carpenter's Hall, 1215 Court Avenue, Chariton, Iowa 50049. Offered in 12 Individual Tracts! These tracts consist of cropland, CRP, pasture, timber, wildlife habitat, and ponds. There are potential building sites, recreational, and development possibilities.
For additional information, please contact John and Kathy Van Zee, Agents, at (641) 521-0151 or click here.
· 640± Acres • Meade and Seward Counties, Kansas
Tuesday, April 25, at 10:00 AM. The auction will be held at the Plains Community Building, 1st and Grand Avenue, Plains, Kansas. A combination of income producing CRP and productive dry cropland offered in four individual tracts!
For additional information, please contact Cole Owens, AFM/Agent, at (620) 276-4424 or (620) 521-1450 or click here.
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