Ag News, October 15, 2013

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Prime Central Iowa Farm Brings $17,600 an Acre

From LandOwner News: If it’s really, really prime, it will sell and sell big. That’s what we’ve been hearing about Iowa’s farmland market and recent sales prove it. Oct. 4 saw 90.6 acres near Beaman (Grundy Co.) bring $17,600 an acre at an auction conducted by Bob Regenwether, AFM, Farmers National Company, Hudson, Iowa. The tract featured 85 tillable acres and a Corn Suitability Rating (CSR) of 97.1 (100 is optimal)! That’s really, really prime. That’s not all.  Login to Member Resources and download the latest edtion: http://portal.asfmra.org/Scripts/4Disapi.dll/4DCGI/cms/review.html?Action=CMS_Document&DocID=27&Time=820983562&SessionID=62057594yhofx712z58m6ib178uofz4n8xa01t8fypx92ywdh85706r0j6bv566f&MenuKey=123

Last Chance to Save Big

The clock is ticking!   We are less than one week away from the early registration deadline for this year’s Annual Meeting in Reno, Nevada.   Register now to receive the early bird rates which save you $100!  Early registration discounts end on October 21st.
 
Mark your calendars now as October 21st is also the cut-off date for the room block at the Peppermill Resort Spa Casino.  Reservations can be made on-line at http://www.agro-nomics.org/hotel.htm or by calling the reservations line at 1-866-821-9996.  Be sure to tell them you are with the American Society of Farm Managers and Rural Appraisers, group code:  AASFM13. Read more about AgroNomics and the 84th Annual Meeting: http://www.agro-nomics.org/

Correction to Updated Requirements for the ARA and RPRA Designations

In a previous article, we listed the updated requirements for the ARA and RPRA designations, but we did not give this exception:
While it is recommended that you take or challenge A304 Integrated Approaches to Value, if you have taken all of these courses – A110, A200 and A300, you will not be required to take A304 to be able to sit for the ARA and RPRA exams. However, you must have taken all three courses to get the exemption for A304.
All other requirements still apply.

Click here for the complete ARA checklist: http://www.asfmra.org/wp-content/uploads/2013/07/Accredited-Rural-Appraiser-Checklist-06132013.pdf

Click here for the complete RPRA checklist: http://www.asfmra.org/wp-content/uploads/2013/08/Real-Property-Review-Appraiser-Checklist-2013.pdf

If you have questions, you can contact Debe Alvarez at 303.692.1225 or dalvarez@asfmra.org.

BAM! Back by popular demand: Rapid Fire Case Studies!

AgroNomics Vision 2014 boasts ASFMRA’s very own to take on some of the hottest rural appraisal topics! Hear from your colleagues and engage in discussions around diverse valuation topics.
On Wednesday, November 13, 2013, join a team of ASFMRA members for Rapid Fire Case Studies – Unique Appraisal Challenges, a session built for anyone interested in valuation, consultation, and review of properties and by some of the hottest in the business.

•   Jeffrey Berg, ARA – What You Always Wanted To Know About Grain Elevators—And Your Mother Wouldn’t Tell You…
•   Dave GaNun, ARA – Greenhouse Facilities – Cost and Value factors and Impact of Economic Conditions on Value
•   Richard W. Gilmore, ARA – Disruptive Technologies Impact on Agriculture
•   Greg House, AFM, ARA – In condemnation appraisal, what makes for comparable sales?
•   Mark Williams, ARA – One Wrong Right of Way
•   Hal Forcey, ARA & Benjamin Slaughter, ARA – Vineyard Appraisals

Don’t miss out – less than a week to reserve your hotel room! Register today and save $200! Don’t miss your chance to join this preeminent event for rural asset managers and valuators. AgroNomics Vision 2014 and the ASFMRA 84th Annual Meeting is right around the corner.

 Decline in banker index continues

The farmland-price index maintained by Dr. Ernie Goss, Creighton University economics professor, as part of the monthly Rural Mainstreet Index (RMI), declined for the ninth time in the past ten months. The September index fell to 54.0 from 55.8 in August, he reports. Login to Member Resources to download the latest edition of LandOwner Newsletter.

Lawmakers increase push to end to direct payments
From Agri-Pulse

WASHINGTON, Oct. 10, 2013 – Three lawmakers pressed Congress Wednesday to eliminate direct payments to farmers even if a long-term farm bill is not approved this year.

“By any vehicle possible,” said Sen. Jeff Flake, R-Ariz., who held a press conference with Rep. Ron Kind, D-Wis., and Rep. Earl Blumenauer, D-Ore., to rail against the payments.
 
Flake said the end of direct payments should be part of a continuing resolution or any type of short-term farm bill extension, if Congress is unable to agree to comprehensive long-term agricultural policy. The last extension of the farm bill expired Sept. 30.

The lawmakers noted that both the Senate-passed five-year farm bill (S. 954) and the House-passed farm bill (H.R. 2642) include an end to the payments.

“We have bipartisan support and there’s no reason for delay,” Flake said. “The payments have been going to the wrong recipients.”

Blumenauer said the government has spent nearly $100 billion on the payments since the program started in 1996. “[Ending the payments] is as close to a no-brainer as there is,” Blumenauer said.

Flake, who also has pressed against premium crop insurance subsidies, said direct payments are economically unfeasible and that many farmers in his district have questioned the program.

Senate Agriculture, Nutrition and Forestry Committee Chairwoman Debbie Stabenow, D-Mich., has said, “The program is indefensible in current budget climate. It makes no sense to pay farmers when haven’t suffered a loss.” Read more: http://agri-pulse.com/Lawmakers-increase-push-to-end-to-direct-payments-10092013.asp

For more news, go to www.agri-pulse.com. ©2013 Agri-Pulse Communications Inc.

What’s the Problem?
The Un-Comofrt Zone – By Robert Evans Wilson, Jr.

“If I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving it.” Albert Einstein

On the 4th of September in 1957, amid great fanfare, Ford Motor Company introduced the Edsel line of automobiles to the American public. It immediately stalled. Just over two years later, the product line was officially closed on November 19, 1959.
Read more: http://www.jumpstartyourmeeting.com/articles/TUZ/76-Whats_the_Problem.shtml or Download the pdf.

In Memory – Mark K. Weber, ARA Troy, IL

The ASFMRA has just received information regarding the passing of Mark Weber, ARA. ASFMRA was honored to welcome Mark into the membership in 1994. He obtained his Accredited Rural Appraisal (ARA) designation and went to the Accredited classification that same year (1994). He made many friends through his association with the Society who will miss him. Our thoughts and prayers are with his wife, Deborah, and family. You can visit http://www.legacy.com/obituaries/belleville/obituary.aspx?n=mark-k-weber&pid=166476102&fhid=4903#fbLoggedOut to find out more.

News from The Appraisal Foundations (TAF)

The next public meeting of the Appraisal Practices Board (APB) is approaching.  Please take the time to register for this meeting if you plan to attend.
Location:
The Hilton Scottsdale Resort & Villas
6333 North Scottsdale Road
Scottsdale, AZ 85250
Date/Time:
Friday, December 6, 2013
9:00am – 12:00pm
Meeting Agenda:
The purpose of the APB is to issue voluntary guidance on recognized valuation methods and techniques in the marketplace. This guidance is designed to be of assistance to appraisers, appraiser regulators and educators.
The following topics are on the Board’s meeting agenda:

  • Collection and Verification of Residential and Non-Residential Sales Data
  • Appraising Newly Constructed Residential Properties
  • Appraising Green Buildings – Background and Core Competency
  • Appraising Green Buildings – Residential Properties
  • Appraising Green Buildings – Non-Residential Properties
  • Valuation Issues in Separating Tangible and Intangible Assets
  • Valuation for Financial Reporting (VFR):
    o VFR Work Group 2:  The Valuation of Customer-Related Assets
    o VFR Work Group 3:  Control Premiums for Financial Reporting
    o VFR Work Group 4:  Contingent Consideration 

Lodging Accommodations:
You may make a reservation with the Hilton Scottsdale Resort & Villas, 6333 N. Scottsdale Road, Scottsdale, AZ 85250, by contacting them directly at (480) 948-7750 or 1-800-HILTONS.  Please note that The Appraisal Foundation no longer reserves “room blocks” for meeting attendees. Therefore, meeting attendees are responsible for making their own lodging arrangements at the best available rates.
Please Note: In an effort to “go green,” The Appraisal Foundation will be posting all pertinent meeting material on its website for downloading.  Registered meeting participants may print their own copies if desired.  Please do not rely on TAF to provide copies of all meeting information.
If you plan to attend the meeting, please Click Here to register online.  If you have any questions about the meeting or the registration process, please contact Staci Steward, Appraisal Practices Board Administrator by email at staci@appraisalfoundation.org.

Appraisal Practices Board Releases Updated VA-4 – Identifying Comparable Properties

The Appraisal Practices Board has released an updated version of Valuation Advisory 4 – Identifying Comparable Properties
On August 14, 2013, the Appraisal Practices Board (APB) issued Valuation Advisory 4: Identifying Comparable Properties.  Subsequent to its publication, the APB learned the Advisory included a citation to a source referenced in the publication that required correcting.  This updated Valuation Advisory includes the corrected reference.
Direct Link: https://appraisalfoundation.sharefile.com/d/s21df78dfbf9403d8

Questions? Please contact Staci Steward, Practices Administrator, at 202.624.3052.

Chapter News

The Illinois Chapter Annual Meeting is scheduled for February 12-14, 2014 in Decatur, IL

Download the Fall ISPFMRA Newsletter and get complete details.