Price of farms

A farm in our area just sold on auction. 129 acre dairy farm, limestone farmhouse. It sold for 4.4 million…. Over 34k per acre. It was not zoned for development and was bought by a neighboring farmer who’s son plans to farm it and milk cows. Just crazy times

Folks coming from the city that have had good Gubmint jobs all their lives and have an unconscious retirement account. Money means nothing to them. They know it's time to get out of the city and they have the $ to pay whatever it takes.

He didn’t get a $4.5 million loan for a little dairy farm. There must be more plans in the works.

Some neighboring farmers are willing to pay crazy prices for land if they can access it by simply opening a gate.

Not everyone buys land with loans.

My Sister's father-in-law has bought everything he can get so his 3 Grandsons will be able to farm. Including the highest $ ever paid for land in that county. That was several years ago though so that's history at this time.

There is a world of difference between a population of 200 million and 330 million and growing. Land is like everything else, when demand goes up, so does price.

I know a farmer/rancher that has over 80 quarters and couldn’t get GM financing because he didn’t have any credit history that’s very hard to do out this way raising wheat and grazing momma cows

"Buy land, they ain't making any more of it!" Will Rogers

Absolutely not Kid friendly. Read the rules above^^^

The land grows houses here, all the farms are going to subdivisions. Lucky to live on the homeplace, but it's getting crowded around here.

As the OP stated, its not just the city folk, its other farmers. Thats how it is around here for sure.... dairy farmers have a lot of subsidy monies to spend.
Anytime somebody on here mentions the logic of buying land, there are a few (usually the same ones) that will try and tell you how foolish it is to buy land...my opinion is you better buy it while you still can

Plus they sell a small rinky dink home for 4-500,000 and buy best land around.

Very few people look back and regret buying land.

If a person had the money to buy a 4.4 million dollar farm and they planned to farm that farm then the return to the investment would probably be more than anything out there in a low risk investment portfolio, plus it can provide a living or partial living for a family.

Bryce

Spend 4.4 million to buy yourself a full time job?

In my area it’s any timberland with road frontage on or near trail systems that’s getting developed. Snowmobiler’s and ATV’ers building cabins.
It’s so lucrative selling to these groups,
Many developers now don’t even consider timber value.

In Florida they start hauling sand in and dumping it in a swampy and just keep at it until they have a solid base to build on. Then 40 years later the building collapses.
They just did that between Tampa and Orlando to put in new interstate off/on ramps. They have enough pull to get a permit from the DEQ/EPA.

Do you really think a dairy farmers son, who also plans to milk, has $4.5 million sitting in the bank?

You can only keep the amount of land that you can afford to pay taxes on...

If their Grandpa was a congressman

Let us know when he files bankruptcy and gets it for pennies on the dollar! Seen it lot around here Lots of the “ self made “ money guys follow this business model
No way he can clear the interest payments milking cows on 129 acres

The land prices out East are why all the Amish are moving to northern WI.