David Sparks Ph.d Farmland Values
by David Sparks Ph.d, click here for bio

Program: Idaho Ag Today
Date: March 02, 2017

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I have learned that this winter, questions abound as to the direction of commodity prices, interest rates, inflation, challenges in the world economy, weather and U.S. tax law, thus, buyers of ag land are asking if it is an opportune time to make a purchase of a farm or ranch, while sellers are asking if the market dynamics are indicating that it is good time to sell land. Depending on location, quality of land and other factors, agents report seeing regions and local areas where land prices are stable to somewhat strengthening post-2016 harvest. Then there are other areas where land values have continued to decline.

Randy Dickhut, senior vice president of real estate operations for Farmers National Company: “If you look at the long-term value of what land has done and I will take your in the Midwest and the Greenbelt, peaked around 2013 and has been on a slow decline since then but it is really measured and historically land values are still strong and high in comparison between 10 and 12 years ago so it's backed off some but good-quality land is not backed off as much as maybe people thought. What about farmland in the Northwest? Idaho, Oregon and Washington, our local farm manager based in Idaho with vast experience as an appraiser so he works in land values all the time is calling that market pretty steady.”

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