Reck Agri Realty & Auction sold over 51,000 acres in the past 12 months. We conducted 19 real estate auctions, negotiated 19 private treaty sales, and coordinated and closed 81 transactions. Each auction set record prices for the time of year and property location.
86% of the properties sold due to liquidation or dissolution of estates, trusts, partnerships, and corporations. The remaining 14% sold due to relocation, debt reduction, downsizing, and retirement. 81% of the buyers owned land within a 30 mile radius of the property being sold. The remaining 19% were out-of-area investors.
LOOKING AHEAD – When visiting with lenders, dealers, and accountants, they state their clients made more money than ever before and are motivated to buy. This optimism was even more apparent with the record level land prices fueled by available cash, low interest rates, limited land for sale, and higher commodity prices.
However, how long can we sustain higher commodity prices to cover increasing crop input costs? What hard decisions will be made to control government deficit spending and escalating debt, inflation fears, and struggling international markets and economies? Will we see changes in estate and capital gain taxes or increased interest rates? When will a terrorist attack or disaster send oil prices skyrocketing? Keeping these questions in mind, how long will this bullish market last? One, five, ten years? Being conservative, realistic, and knowing history repeats itself, it is not a matter of if, but when we will see a downturn in the agricultural economy. Right now though, we continue to have a PERFECT STORM for a BULLISH SELLER’s MARKET.
If you would like to take advantage of this SELLER’s MARKET, contact Reck Agri Realty & Auction. Selling farm and ranch real estate…differently.
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