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Honored Advisor
Posts: 8,785
Registered: ‎07-18-2011
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Re: Acre changes and adjustments for 2019

Not down here..... Land auctions have been happening but nearly none have been concluded....... Probably 100+ quarter sections in the last 5 months ended in "no sale".  The owners backed out on the bids they got in nearly every case.  So far....  Lots of ground looking for 2012 prices. ( I am still waiting for some sort of legal action that holds Real estate agents and sellers responsible for their advertised commitments)  So far the advertisers are making $$.

 

Two factors in sw ks..

 

1.  The folks who finance themselves bit off sizeable chunks of expensive ground the last 5 years and have backed off.....

 

2.  Credit lenders have trimed their limits....... a little fear of water issues...... So loans for Irrigated ground are now limited to 10 yr notes in case the water goes away....35%+ of the land in an 100 mile radius is seriously limited water compared to 20 years ago....  

 

Some with poor water are feeling like cotton is gonna be their answer.   Like stopping for ice cream on the way to buy insulin.   Heart