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Tractor Talk Discussion Forum

Washington, IA 5 million dollar land auction

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1936

12-05-2007 08:15:01




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I understand 742 acres in 12 tracks sold to 7 buyers in just over 2 hours.

Anyone attend or know details?

Single owner for all?

Auctioneer is the one who has the equipment auctions near Wellman, IA.




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Tradititonal Farmer

12-05-2007 19:46:37




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
Americans have been living a lavish lifestyle spending trillions of $$$$$ on foreign oil and 'cheap' foreign made goods and consquently foreigners are taking those dollars and buying things and real estate here.What else would they do? Paying the Piper ain't fun.We're destined to become a nation of sharecroppers.



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paul

12-05-2007 18:31:15




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
200+ bushel corn at $3.75 a bu has lead to some very high cash rents & very high land prices. The question is, will those prices hold long enough to pay off the land?

Now, input costs have gone up a lot the past 3 months as well, so I wonder if land prices will level off fo a bit.

$6000 an acre is regular farmers looking to keep their farm going.

The wisdom of it will only be known in about 20 years. :)

--->Paul

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ToddLevi

12-05-2007 18:38:26




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 Re: Washington, IA 5 million dollar land auction in reply to paul, 12-05-2007 18:31:15  
There will be no land payments. I left there 5 years ago and the good land was selling for 4k cash. Old Families-Old Money-Unbelievable Land



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ToddLevi

12-05-2007 15:51:12




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
I used to live there. It is most likely 3 or 4 wealthy families that I know doing battle for farm ground.



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Aaron SEIA

12-05-2007 15:46:33




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
Here is a link to my local news papers story on it. Lot of ground bringing close to 6K here, the ground that sold was about as good as it gets anywhere.

Link

Aaron SEIA



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Lincolnj

12-05-2007 15:33:43




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
Actually that price does not seem out of line. Around Des Moines farm ground will bring $4500 and up. Any thing with potential housing development will bring $7500 to $10,000. Any thing with commercial potential will bring $30,000 to $40,000 an acre. ISU just sold their dairy research farm which was 1080 acres for $23.6 million.



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Steven f/AZ

12-05-2007 14:30:53




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 Re: Washington, IA 5 million dollar land auction in reply to rrlund, 12-05-2007 08:15:01  

J.C.in AZ. said: (quoted from post at 15:18:51 12/05/07)Well the old saying"They ain't making any more land' sure applys now a days don't it?


$50,000 doesn't even buy too much of a lot here in town anymore... Unfortunately most of the lot prices work out to well over $250,000 per acre!

Not too long ago I dreamed of my first house costing me about $50,000 and needing some minor fixing, maybe even a new roof and siding... Here I am about 7 years later building to the tune of $200,000. Inflation sucks. third party image

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higgins

12-05-2007 13:14:16




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
A bit over 6K/acre; about what roly-poly central KY land quite a ways from town is going for.....
Must be tiled real well though...



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J.C.in AZ.

12-05-2007 14:18:51




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 Re: Washington, IA 5 million dollar land auction in reply to higgins, 12-05-2007 13:14:16  
I visited my birth place now owned by a 4th cousin in Taylor County Ky in Sept this year and thought about making an offer for the 50 Acres which has 5 Tillable acres and 45 acres of steep cut over hillsides. Instead I asked another Cousin what he thought it would be worth and surprise to me he says"why I offered him $50,000.00 and he turned it down". I never dreamed such old run down ground with no Agricultural or Timber Values far back in the hills of Ky. would be so desirable. Shame on me for being so out of touch with values.Well the old saying"They ain't making any more land' sure applys now a days don't it?

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Dave from MN

12-05-2007 12:53:45




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
I wonder how much of the old USA is owned by non-citizens. Greed is probably the motivating factor for the sale, I doubt any one bought it for preservation or for passing on to later generations of the family. Rural development just sickens me, and makes me an angrier person than I want to be.



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Spook

12-05-2007 18:29:56




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 Re: Washington, IA 5 million dollar land auction in reply to Dave from MN, 12-05-2007 12:53:45  
In Michigan, I think a lot. Hard to tell because of the property held by corps that may be foriegn owned. I know I looked at a plat book for my county and saw large tracts are owned by some people with asian names. And their are several large Dutch, Danish or German farming operations in Michigan.



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Mike M

12-05-2007 12:26:58




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
Or likely some oil rich Arab buying us up ?



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J.C.in AZ.

12-05-2007 09:57:07




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 Re: Washington, IA 5 million dollar land auction in reply to 1936, 12-05-2007 08:15:01  
Gotta be the Modern Day Plague called "Developers".Save an Elk,shoot a Developer.[saw that on a Bumper Sticker from Colorado].



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