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Quality is King for U.S. Farmland Buyers Keeping Prices Near Their Peaks
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(PRWEB) June 4, 2010 -- Despite the uncertain mood still present in many economic sectors, the U.S. farmland market remains steady to strong thanks to continued investor interest in high quality land. In recent months, the demand for high quality farmland has increased, which has driven up prices for top quality properties.
“Land is still a good investment for buyers, but they want the high quality properties that hold value,” said Lee Vermeer AFM, ALC, vice president of real estate operations at Farmers National Company. “We are seeing values on the top quality ground at or even above the peaks we saw in 2008. In some cases, it’s beyond that point, above the $7,000 per acre mark. The market for these properties is strong and, based on economic indicators, we project that to continue.”
Vermeer added that the desire for high quality investments continues to push buyers away from the less productive land. Properties that are only partially tillable or have nonproductive soils are moving slowly and more time is needed to complete sales.
“Fewer landowners are willing to sell their property today leading to fewer listings,” according to Vermeer. “Fewer farms or ranches for sale, along with strong buyer interest, have helped to fuel the recent strength in the market.”
For more information on land listings in your region, visit the Farmers National Company website at www.FarmersNational.com.
Farmers National Company, an employee-owned company, is the nation’s leading agricultural real estate and farm and ranch management company. The company has sold over 2,000 farms and more than $1.25 billion of real estate during the last four years. Farmers National Company currently manages more than 4,500 farms in 23 states. Additional services provided by the company include appraisals, insurance, consultation services, oil and gas management, lake management, and a national hunting lease program.
Editor’s Note: For graphics depicting state specific land value information please contact Debbie Hilt at 888-296-2411, ext. 6, or visit www.alberscommunications.com/farmers-national.
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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