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rswfarms
Senior Contributor

Faust- look at this farm sale/$190.41 per CSR Point

Faust- this farm has a CSR Rating of only 76, just barely CLASS 1-A Iowa Dirt. The average price was $14,471/acre and a $190.41 per CSR Point. Pretty unbelievable for just barely CLASS 1-A  dirt. No, Iowa farmland certainly isn't backing off at all. At a $190.41 per CSR Point, this would make a 90 CSR farm around $17,136.90/acre. Boy, we are getting up there in price aren't we?

 

 

 

 

1/23/2013

167.33±   Acres, Buena Vista County, Iowa,   were sold at auction on Wednesday, January 23, 2013, at the Alta Community   Building in Alta, Iowa. For additional information, please contact Travis   Johnson, Agent at (712) 338-2384 or click   here.

Total: $2,416,742

Tract   1: $13,900/A

Tract   2: $14,800/A

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5 Replies
425Cat
Advisor

Re: Faust- look at this farm sale/$190.41 per CSR Point

Who is buying RSW??

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Faust100F
Advisor

Re: Faust- look at this farm sale/$190.41 per CSR Point

Rsw - that is really getting up there!  76 CSR is only 2 points over what the top is for Class II farmland in Iowa which  is rated at 74CSR.   Must be an "investor" LMAO!  I mean, they always seem to be the last man on the deal team when prices are topping out.   Of course . . . the Land expo speakers (except the Texan) believe as you do we may hae three more years before land levels off.  In my mind even $4,000 an acre is too much to pay for an acre of land in Iowa.

 

I was getting the land buying itch yeasterday so I checked in with my realtor in the Dakota's yesterday West of the Missouri River.   I was buying crop land out there for $400 an acre six years ago.  I told them I wanted to pick up another quarter or a half section out there and gave them the counties I was interested in.  

 

I told them my land price range was $600- $1,000 an acre.  They emailed me back and said in the counties I was interested in; Corson, Sioux, Adams, Perkins, and Bowman, auction prices over the past 18 months have been running between $1,000 to $2,000 an acre.

 

 So I am recovering from sticker shock today.  We get about 16 inches of rain out there . . . when it rains . . . .  Of course, minerals are a big thing out there now with the oil boom going on.  Adios Amigos. John. 

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rswfarms
Senior Contributor

Re: Faust- look at this farm sale/$190.41 per CSR Point

Not sure who is buying 425cat, but as Faust said it is probably an outside investor/City Boy!!!!!!

 

$190 per CSR Point* 85 CSR= $16,150/ACRE

Well Faust, puts my top-quality dirt at $16,150/acre since I own one farm with an 85 CSR Rating. I can see we will break $200 per CSR Point shortly!!!!!!

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Mike NCIA
Veteran Contributor

Re: Faust- look at this farm sale/$190.41 per CSR Point

FYI.....there is seed corn grown in the area.  RSW----my cousin knows the guy who was bidding on the Wesley, Ia farm that did not sell last week at $8600 per acre.  He thinks he will get it bought.  So your ground is a lot closer to this farm, I would say your ground might be worth $9000 if it is tiled like you say.  I live about 25 miles from the farm that just sold, so my ground is probably worth at least $15,000.

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cowfarmer
Senior Contributor

Not an investor

We were just talking about this at the gas station this morning, all the ground in our area has been bought by farmers the past two years. I don't know about this particular parcel but if I had to bet I would say it was bought by a BTO farmer, most have lots of cash.

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