News You Can Use
9:13 AM – July 21, 2016
Joining you much later in the morning today as at 5 am I was busy with some Land Group business planning. Today is gonna be quick, just some News You Can Use. This is sort of my saying in the office, “News You Can Use”. So here it is, even though a Yale economist wrote yesterday in the New York Times diminishing the long term returns of land as an investment vehicle I just thought I would throw out a few recent events I have witnessed.
In Worcester County over 100 acres of high quality farmland just sold for more than $8,000 an acre. Additionally, I reviewed a few sales in the farm country of Illinois where irrigated land closed well over $10,000 an acre. It seems to me a growing world population together with the growing interest in protein based foods (beef, pork and chicken) which need the grain for feed, farmland remains a safe investment plan. The news of the day is the local dirt market remains strong for the farm sector while other smaller users like solar and some residential projects have emerged. The timber marketplace remains flooded, but the silver is there is a lot of unrealized value on many tracts which have harvestable timber. If you want more info on recent land sales and data in the region shoot us an email and we can email or mail our Land Report to you.