Drought? What Drought? Iowa Cropland Gains 8% Since March
From Land Owner Newsletter: The combination of strong crop insurance, pentup profits from previous years and prospects of $7 cash corn this fall resulted in an increase of nearly 8% in the value of Iowa cropland the past six months. That’s according to a semi-annual survey conducted by the Iowa Chapter of theREALTORS® Land Institute (RLI).
The 7.7% six-month gain coupled with the 10.8% rise found in the previous survey results in an annual increase of 18.5% for the year ending September 1. (See Page 2 for details.) Download the latest issue of LandOwner Newsletter and read more.
Year End Changes in Tax Exemption for Farmland and Other Assets
The year end changes in tax exemption for farmland and other assets will likely be causing a rush for last minute appraisals. This will undoubtedly affect appraisers and some of the managers and consultants as well. Here are a couple of articles on that issue:
No playing chicken with estate tax deadline
Planners say big gifts now — right now — could save heirs later
By Charles Passy – Market Watch – The Wall Street Journal
For those weighing what to do with the assets they have accumulated over a lifetime, the next few weeks may be time to make the final call.
That’s because the current federal tax exemption on estates and gifts is set to roll back on Jan. 1 from $5.12 million to $1 million — the same level it was at in 2002, before tax cuts passed during the George W. Bush era went into effect.
Read more: http://www.marketwatch.com/story/no-playing-chicken-with-estate-tax-deadline-2012-10-02?link=MW_home_latest_news
Estate planning crucial by year-end
Millions of dollars involved
By Ron Smith, Southeast Farm Press
Farmers and ranchers who have not made arrangements for estate planning should run, not walk, to their tax advisors and determine if they should transfer assets to their heirs before year-end.
Failure to do so could mean millions of dollars in estate taxes to those heirs, says Rob Gunther, Frost PLLC, Little Rock, Ark.
Read more on the Southeast Farm Press website: http://southeastfarmpress.com/management/estate-planning-crucial-year-end?NL=SEFP-01&Issue=SEFP-01_20121002_SEFP-01_48&YM_RIDemail@example.com&YM_MID=1343220&sfvc4enews=42
Still Time to Register for Indy Conference – Don’t Miss It!
Yes, we’re just three weeks away but there is still time to register for the AgroNomics, Vision 2013 Conference & Trade Show in Indianapolis October 29 – November 2. Held in conjunction with the ASFMRA Annual Meeting, the week offers an outstanding cross section of education, meetings, program sessions and networking opportunities. We’re excited that this year’s Trade Show will include many of our sponsoring companies from the past and a number of new companies as well. As a focal point of the conference, the exhibit hall is always a constant hub of activity.
While the group discount deadline at the Westin Indianapolis has passed, there are still rooms available and the hotel will accommodate as many people as possible at the $149 rate. Be sure to call right away if you are in need of a room. The number for reservations is (317) 262-8100 or toll free (800) 937-8461.
Space is still available in the exciting Rapid Fire Session, at the Indiana Chapter Welcome Dinner, on all tours (with the exception of the DuPont Pioneer Farm Management Ag Tour) and at most events. The key is to get registered NOW so that you can take advantage of the many options still available.
We look forward to seeing you in Indianapolis for what promises to be another outstanding meeting!
Please direct any questions to Cheryl Cooley at firstname.lastname@example.org or Jeremy Lewis at email@example.com.
The links you need:
Hotel Information & Reservations
Stay Warm With This Quilt – Donate To The Auction Today!
Stay warm no matter what the weather is like outside with this Queen/King sized homemade quilt. The quilt has a farm theme and donated by Roos & Associates, Inc.
Imagine the conversations you can have with this Epic Crystal Clock sitting on your desk or mantel. The crystal clock has the ASFMRA logo engraved on it. Capelle Appraisal Service has donated this clock to the Auction this year.
You won’t want to miss out on your opportunity to win the Pigs Nose Scotch donated by Howard Audsley.
Remember, the Auction is drawing nearer. It is time to make your donation. You can donate something that is unique to your state, large or small item. Remember the proceeds from the Auction go to support the Education Foundation and helps to create and/or update education for all members.
Auction items should be shipped to the Westin Indianapolis to arrive no later than Monday, October 29, 2012. Please address packages as follows:
ATTN: Hope Evans
c/o The Westin Indianapolis
50 S. Capitol Ave.
Indianapolis, IN 46204
Hold for: ASFMRA / Oct. 29 – Nov. 2
Catering/Convention Service Mgr: Rebecca Moore
For more information, visit the Agro-Nomics Web site or contact Hope Evans at (303) 692-1216 or firstname.lastname@example.org.
Tim Galm, AFM, ARA
The ASFMRA was honored to welcome Tim into the association in 1983. Tim obtained his Accredited Farm Manager (AFM) designation in 1989 and then went on to obtain his Accredited Rural Appraiser (ARA) designation in 1991. According to Tim’s wife, Molly, he “always enjoyed the camaraderie of his fellow ASFMRA members.” Tim made many friends through his association with the Society who will miss him greatly. Our thoughts and prayers are with his wife and family.
What’s ahead for U.S. cotton growers?
Kiplinger Agriculture Letter
Much of the answer can be found in China.
With India and Pakistan, China consumes two-thirds of the world’s cotton crop and is the leading buyer of cotton that’s grown in and exported from the U.S. Copyright 2012. The Kiplinger Washington Editors, Inc.
Login to Member Resources to download the lastest issue: http://portal.asfmra.org/Scripts/4Disapi.dll/4DCGI/cms/review.html?Action=CMS_Document&DocID=27&Time=820983562&SessionID=62057594yhofx712z58m6ib178uofz4n8xa01t8fypx92ywdh85706r0j6bv566f&MenuKey=123
Fay Ranches Presents the 2012 Land Report 100
Fay Ranches is proud to be the premiere sponsor of the 2012 Land Report 100, which was just released today. The Land Report 100 profiles the 100 biggest landowners in the country, and is produced by Fay Ranches’ good friends Eddie Lee Rider and Eric O’Keefe.
California wine industry strong despite grape, labor shortages
Pat Bailey, UC Davis
Despite a significant, long-term shortage of grapes and economic pressures that are putting the squeeze on profit margins, California wine industry leaders are cautiously optimistic about the future, according to two new surveys conducted by the University of California, Davis.
Findings from the surveys of wine executives and winemakers were presented during the Wine Industry Financial Symposium at the Napa Valley Marriott in Napa, Calif.
Read more on the Western Farm Press website: http://westernfarmpress.com/grapes/california-wine-industry-strong-despite-grape-labor-shortages?NL=WFP-01&Issue=WFP-01_20120927_WFP-01_333&YM_RIDemail@example.com&YM_MID=1342310&sfvc4enews=42
Paramount predicts 1 billion pound pistachio mark by 2020
550 to 570 million pound crop this year
By Cary Blake
Paramount Farms International (Paramount), the world’s largest pistachio processor, predicts U.S. commercial pistachio production could achieve the 1 billion-pound milestone between 2018 to 2020.
If this estimate is accurate, the U.S. commercial pistachio industry would have matured from its first plantings in Chico, Calif., to a 1-billion-pounder crop in a little more than 30 years.
Read more on the Western Farm Press website: http://westernfarmpress.com/tree-nuts/paramount-predicts-1-billion-pound-pistachio-mark-2020?NL=WFP-01&Issue=WFP-01_20121008_WFP-01_854&YM_RIDfirstname.lastname@example.org&YM_MID=1344284&sfvc4enews=42
New ARA – Cary Matthews
Please welcome new ARA, Cary Matthews who passed the ARA exam on September 20,2012. Cary is from Jonesboro, AR.
Valuers Global Forum Holds Inaugral Meeting
Established to Advance the Valuation Profession
Washington, DC — The Valuers Global Forum, an organization comprised of leading valuers from around the world, held its organizational meeting in Washington, DC on September 24 and 25.
The purpose of the Forum, which was established by the Board of Trustees of The Appraisal Foundation, is:
• To create opportunities for representatives from many countries to dialogue concerning notable issues and solutions that impact the valuation profession around the globe;
• To create initiatives that will advance the valuation profession in development, credibility and influence around the world;
• To provide an information portal for The Appraisal Foundation and the international valuation community relative to international activities and occurrences within the valuation profession.
Update Your Calendars with the Latest Meetings and Education Schedule
Stay current with all the programs and activities taking place within ASFMRA and the industry. Bookmark the ASFMRA website and check the calendar regularly. Click here to view the complete schedule of ASFMRA courses.
10/28-11/2 ASFMRA 83rd Annual Convention & Trade Show (Agronomics) – Indianapolis, IN
10/10-12 Appraiser Qualifications Board Meeting – Washington, DC
10/10-12 Oregon Chapter Fall Meeting & Education – Grand Rondo, OR
10/11-12 A360 Introduction to Appraisal Review – Grand Rondo, OR
10/12 Appraisal Standards Board Meeting – Washington, DC
10/12 State Regulatory Advisory Group Meeting – Washington, DC
10/13-16 AARO 2012 Fall Conference – Washington, DC
10/14-16 American Bankers Association Annual Convention – San Diego, CA
10/17 SDSU Career Day – Brookings SD
10/17-20 NAIFA National Conference – Secaucus, NJ
10/18-19 RICS – Summit of the Americas – Miami Beach, FL
10/18-19 Dairy Appraisal Seminar – Brookings, SD
10/22-24 Basic Appraisal Approaches – Austin, TX (FCB)
10/29 ASFMRA Best in Business Ethics Webinar – Internet
10/29 ASFMRA Best in Business Ethics – Indianapolis, IN
10/30 Using Excel in Specific Appraisal Applications
11/1-3 Board of Trustees Fall Meeting – Portland, OR
11/4-7 National Agricultural Bankers Conference – Milwaukee, MI
11/7-9 NAFB 69th Annual Convention – Kansas City, MO
11/9-12 RLI – Realtors 2012 Conference and Expo – Orlando, FL
12/4 ASFMRA Best in Business Ethics Webinar – Internet