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Farmers National Company
Iowa Land Sales Reach New Peaks
Increasing land prices coupled with more farms being sold created new peaks in real estate sales in Iowa during 2021 for Farmers National Company. The amount of land sold by the company was up 152 percent over the previous year, with auction sales up 129 percent.
"Iowa was the focus in the land market last year with the monumental jump in sales prices for good cropland and in the number of farms sold across the state," said Randy Dickhut, senior vice president of real estate operations for Farmers National Company.
"Our agents and auction teams were busy the whole last half of the year and especially the last three months of the year. We auctioned five times more land during the last part of 2021 than we did the last quarter of 2020," said Brian Mohr, area real estate sales manager for Farmers National Company.
Higher grain prices, past government payments, better yields than first thought, and stronger farm incomes prompted increased demand for good cropland in Iowa last year. The stronger financial condition of farmers prompted their renewed interest in buying land.
Increasing land prices and the once assumed potential for changes in tax laws affecting real estate sales brought more landowners to sell their farmland. Sellers remained the normal estates, trusts, and non-farming families.
"The numerous ways Farmers National sells farms was uniquely suited to the competitive bidding we experienced in Iowa last year," according to Tom Schutter, assistant area real estate sales manager. "Our ability to do simulcast auctions broadcasting live and online bidding at the same time brought the best sales prices for our sellers."
Mohr believes the land market will be
active in 2022: "Land sales activity normally slows down somewhat during late
winter leading up to spring planting. However, our pipeline of listings and
auctions in Iowa for the next few months is busy."
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