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Tractor Talk Discussion Forum

OT-farm ground auction in ohio

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Ray

02-02-2008 10:04:03




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I saw two farms sell today near coldwater ohio.The first was 74 acres with a one story brick house built in the 60's and a couple old barns.It brought $8050 per acre.The second was 108 acres bare ground.It brought $9200 per acre.




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1206SWMO

02-02-2008 18:10:09




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 Re: OT-farm ground auction in ohio in reply to Ray, 02-02-2008 10:04:03  
At $9200 per acre it would have to rent for $450 per acre to get a 5% return.

125 bu corn ground here sells for $1500-2000 per acre.



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Gene Dotson

02-02-2008 13:26:41




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 Re: OT-farm ground auction in ohio in reply to Ray, 02-02-2008 10:04:03  
Mercer County in Ohio is the number one agricultural production county in Ohio. Still a lot of big dairies in the area and now a lot of turkey production operations being built. These prices are not oncommon in this area.
Good rich, level land with wide open fields... Gene



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RN

02-02-2008 13:02:11




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 Re: OT-farm ground auction in ohio in reply to Ray, 02-02-2008 10:04:03  
Lots of corn fuel plants, price is up at least $1.50 a bushel over last year, beans up also. 120+ day corn instead of 90-105 here in Wisconsin. Neighboring farmers been saving a couple years and bank figures farm land better risk than inflated value mortgage housing loans. Translate that price to gold and compare gold price by weight 5 years back- take away some shock. RN



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noncompos

02-02-2008 12:23:47




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 Re: OT-farm ground auction in ohio in reply to Ray, 02-02-2008 10:04:03  
Oops: forgot to include the possibility it was Arabs or Chinese, trying to use up some of those mountains of US $"s they/ve accumulated...



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noncompos

02-02-2008 11:46:44




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 Re: OT-farm ground auction in ohio in reply to Ray, 02-02-2008 10:04:03  
Fascinating...Coldwater is pretty well out (4300+ per 90 census "1990 census or latest available estimates"), 30 mi N of Greenville (13K or so); closest city is Muncie, IN, (71K) 50 mi or so southwest, long way to commute for development, even assuming population growth, if there was any.
Have any other info?? Someone gambling on corn, or weather changes cutting worldwide production? (There're lots of hungry people in the world, mostly because they've got nothing to buy food with, and no one else wants to come up with the money).

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in-too-deep

02-02-2008 10:19:51




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 Re: OT-farm ground auction in ohio in reply to Ray, 02-02-2008 10:04:03  
$595,700 and $993,600, respectively. :0 Whew. Was it bought by developers?



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Ray

02-02-2008 12:48:15




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 Re: OT-farm ground auction in ohio in reply to in-too-deep, 02-02-2008 10:19:51  
Both farms were bought by local farmers. Last saturday an 82 acre farm with 16 acres of woods brought $505000. About 4 weeks ago a farm near Fort Recovery ohio brought $9000 per acre.



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