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jrscowfarm
Frequent Contributor

Land sale Missouri

Went to a farm auction near Cameron MO. on Sat. Ok house buildings needed work, two ponds, Ground was average for the area it had been in Hay/grass for 10 years It could be farmed had good fence if you wanted to run cattle. House rented for 575 a month.  I left when they too thier break as I had other things to do. Only two bidders I saw started out the bidding at 375,000 then they came down to 225,000 Laast bid I heard was 300,000.

 

If that is what it brought, it was to much. I was thinking more in the 250,000 range.

 

Got the feeling it was investors buying. Didn;t know anybody there so I didn;t get the back story. Maybe someone else knows?

 

Land needs to come down.

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3 Replies
clayton58
Veteran Advisor

Re: Land sale Missouri

Around here its common for the eventual buyer to not get in till late.  The two bidding before the break may have gotten blown out of the water.  Why would you bid early when you know there will be a "recess"?  Some auctioneers always take a break, and then there are some who dont stop till its sold,

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Red Steele
Veteran Advisor

Re: Land sale Missouri

Land here in southern MN is down 25% to 40%, based on recent auction prices, and probably has another downward leg left if interest rates rise, or crop prices deteriorate further. Lower quality land seems to be going down faster, but that may be an illusion since it probably wasn't worth what people thought it was, even at the peak.

 

How big a parcel was it that was selling? The price doesnt mean much without the acreage.

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jrscowfarm
Frequent Contributor

Re: Land sale Missouri

oops it was 80 acres about 72 tillable.

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