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$1.65M Solar Farm for Sale in Massachusetts If you've ever wanted to own your own electric utility, here's your opportunity. There's a 2-acre solar farm for sale in Upton for just $1.6 million. As the owner, you'll be providing energy for hundreds of people in the Blackstone River Valley, and officially be part of the National Grid system. Read the Full Story Maryland County Figuring Out Legal Hemp Logistics At the edge of the shadows of the Catoctin Mountains in Keymar, there stands a canopy of glass enclosing 17 acres of plants, protecting them from the cold air outside one afternoon in late February. Most of what was planted inside were flowers ...
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COVID-19 Disrupts Agricultural Economy Economic activity declined in all Federal Reserve districts since April 15, according to the latest Federal Reserve Beige Book. The latest Beige Book was released May 20. The report is published eight times a year. It's a summary of anecdotal information on current economic conditions in Federal Reserve districts. Read the Full Story Post-COVID-19 Pandemic: What's It Mean for Agriculture Before the COVID-19 outbreak, massive pandemics seemed relegated to the Spanish flu pandemic of 1918. So, could a COVID equivalent happen today in crops? There have been some ominous signs in recent years. In 2005, Asian ...
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Low Interest Rates Help Keep Farmland Values Stable An extension ag business management instructor is confident farmland will hold its value as long as interest rates remain low. David Bau with the University of Minnesota says his latest survey of 14 counties in southwest Minnesota shows prices only softened an average of $13 an acre. He attributes that relative strength to continued high cash rents and cheap interest rates. “That helps the borrower if you want to borrow some money for land. It also gives a better opportunity towards investing in land than investing in CD’s at the bank because the interest rates are so poor that the investors might think ...
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Future Returns: Farmland Can Create a Well-Balanced Portfolio Mark Twain is credited with the quip: “Buy land, they’re not making anymore of it.” His wisdom could be updated today with the advice to buy farmland.  The world’s population is swelling, so much that global food production needs to increase 50% by 2050, according to the World Resources Institute. Arable land is becoming more scarce, and climate change and extreme weather make it an even more precious commodity.  Read the Full Story Coronavirus Concerns Fuel Drop in Farmer Sentiment A measure of the state of farm country dropped for the second month in a row, “effectively wiping out ...
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Free Idaho Potatoes are Feeding People at Home, Across U.S. Like many farmers and ranchers in Idaho, Ryan Cranney began feeling the effects of COVID-19’s disruption in the restaurant supply chain in mid-March. What was supposed to be a good year for Cranney Farms’ crops quickly turned into a surplus he couldn’t sell. That is when he took to Facebook and put out a call for anyone to come get those surplus potatoes — for free. The move resulted in national attention and the arrival of hundreds of people at his farm. Read the full Story. Farmland Values Still Healthy Farmland Market Mostly Ignores Coronavirus, for Now Although farm finances are ...
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In this Member Spotlight, get to know ASFMRA Member Brad Hayes, one of the Iowa Chapter Directors. Describe your experience and education related to the property professional field. After working a couple of years in the commercial real estate sector, I transitioned into the agricultural real estate industry and started my career in appraising agricultural real estate assets. My passion for the agricultural industry and experience in real estate led me to this profession. I joined Peoples Company in 2014 and was provided the opportunity to develop the firm’s appraisal division where we worked with clients throughout the Midwest. In January 2020, I took a ...
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In a Sea of Red, an Inviting Patch of Green One often overlooked real estate segment has held its ground in the broader market retreat that began in February, and its resilience may help lift its status in the eyes of investors and portfolio managers. "Over the years, I think more and more institutional investors have considered incorporating farmland as part of the portfolio, especially to balance out volatility in the equity market," says Wendong Zhang, ASFMRA Iowa Chapter Academic Vice President and assistant professor of economics at Iowa State University Read the Full Story What are Farmers Thinking About Ag Tech During COVID-19? Many of ...
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Are Appraisals an Essential Service? With the number of states, counties and cities issuing stay-at-home orders increasing every day, the real estate industry is left to quickly interpret whether its functions are considered essential services. With many moving parts and jobs in the real estate process, appraisers, notaries and homebuilders, along with many other roles, are having to individually interpret their local restrictions to see how they can continue operating.  Read the Full Story. COVID-19 Puts Ag Financial Concerns Under a Microscope The gloom and doom of the COVID-19 coronavirus continues to keep uncertainty in the agricultural finance ...
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Hello to all ASFMRA Members, Staff and Others. How quickly things can change. In my last message dated February 25th, I wrote about my travels across the country each week attending Chapter meetings. Since that date, I have not traveled for obvious reasons. A lot of folks struggle with change, and certainly I do sometimes as well. However, I have found comfort and even excitement in what this adversity might direct us to do better for the organization as a whole, for ourselves and, importantly, for others. Let’s think past the obvious negative things that we are dealing with due to COVID-19 for a moment. The ASFMRA is truly an organization of members who ...
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Stable Land Values Continue Into 2020 Many agricultural experts and economists have been warning for the past few years that we could be headed for a significant correction in farm land values in the Midwest. Land value summaries showed that a reduction in average land values did occur in many regions of the U.S from 2014-16, including the Upper Midwest, before stabilizing in many areas in 2017 and early 2018. Land values have been under pressure in some areas in late 2018 and in 2019, due to reduced crop yields, the ongoing trade war with China, low commodity prices, and reduced farm profitability. However, overall land values have remained fairly stable ...
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Carson Rose is an ASFMRA member and Past President of the Carolinas Virginias Chapter. Q: Where are you from? A: Home to me is Newton Grove, a small town in Eastern North Carolina. My wife, Kayla, and our two children still reside in my hometown in order to be close to our family farm where I help out part time. Q: Where did you get your college degree? A: My undergraduate degrees are from North Carolina State University in Agricultural Business Management and Agriculture & Environmental Technology. I received my Masters in Business Administration at Campbell University (N.C.). Q: How did you get into the rural property business? A: ...
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Investing in Farmland: A Real Estate Investor's Guide There are approximately 911 million acres of farmland in America, according to the U.S. Department of Agriculture (USDA). Farmers and ranchers own about 61% of the land they use, renting the rest from third-party landlords. While other operators own 8% of this land, investors groups (including retired farmers) hold the remaining 31% of America's farmland, with 21% owned by non-operating individuals or partnerships and 10% held by corporations, trusts, or other owners. Given this breakdown, non-farming investors own a small slice of the country's farmland. That piece, however, has been growing as more ...
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Will 2020 Be The Year The Land Market Tumbles? The land market in 2019 continued the plateau trend of the past several years in which the supply of agricultural land for sale on the market remained lower than average and prices for good quality cropland held mostly steady. Looking ahead to next year, will financial stress from lower commodity prices and poor harvests in some regions cause prices to decline? Farmland sale activity in the first part of 2019 was slower than it had been for some time with late spring and early summer especially void of farms for sale. Planting delays and prevented plantings contributed to the lackluster activity.  Read the ...
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Dr. Wendong Zhang is our ASFMRA Iowa Chapter Academic Vice President. Describe your experience and education related to the property professional field. With many helping from the Iowa Chapter, I teach a Rural Property Appraisals course at ISU and lead the annual ISU Land Value Survey. In my Ph.D. study at Ohio State, I examined how urban influences got capitalized into nearby farmland values. Describe what led you to become a chapter member of the Iowa ASFMRA Chapter and why you remain a member. I have the privilege to serve on the board of the Iowa Chapter as the Academic Vice President. I have benefited a lot from interactions with chapter ...
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Hemp Takes Hold Broad-shouldered and barefoot, Brian Lyda trots into a rain-softened 6-acre hemp field near Hendersonville, in mountainous western North Carolina. Mud is splattered up his calves as he turns back a fourth of the way into the rows. “This plant loves attention but not too much attention, if that makes sense,” says Lyda, gesturing to the 2-foot-high hemp plants growing under plastic in rows 6 feet apart. After all, hemp – and its cousin, marijuana – can grow and thrive on their own in road ditches. Read the Full Story Here. Report: Ag Conditions Not as Bad Now as in 1980s The overall U.S. agricultural economy has slumped in recent ...
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Paying It Forward,  ASFMRA Style  By Rex Wilcox, AFM Thanks to the ASFMRA and Iowa Chapter awards committees for the D. Howard Doane award I received at the 2019 Louisville convention.  I appreciate the recognition from my peers.  There are many people deserving credit for their input to my career, making it possible to be considered for the award. My farm management experience began in 1973 with Stalcup Ag Service at an opportune time, which allowed becoming acquainted and able to work with many influential ASFMRA members. My first contact with a farm manager was Bob Walters of Hertz who sold my father a farm.  I was impressed with Bob and curious ...
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The Texas Chapter will be offering Qualifying Education over the course of 2020.  Justin Bierschwale, ARA will be the lead instructor.  Sales Comparison Approach | February 24-27 Cost Approach | June 1-4 Income Approach | August 10-13 If you have a trainee in need of Qualifying education, we hope you will find these course offerings advantageous. Should these offerings be successful in Texas, the Chapter’s goal is to offer both Qualifying and Accreditation education in a systematic manner. Please help spread the word.   These offerings are open to EVERYONE in need of qualifying education. Refer to the promotional flyer for all hotel, travel ...
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Will 2020 Be the Year the Land Market Tumbles? The land market in 2019 continued the plateau trend of the past several years during which the supply of agricultural land for sale on the market remained lower than average and prices for good quality cropland held mostly steady. Looking ahead to next year, will financial stress from lower commodity prices and poor harvests in some regions cause prices to decline? Farmland sale activity in the first part of 2019 was slower than it had been for some time with late spring and early summer especially void of farms for sale. Planting delays and prevented plantings contributed to the lackluster activity. Read ...
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Recapping the 2019 Land Market The land market in 2019 continued the plateau trend of the past several years in which the supply of ag land on the market remained lower than average and prices for good quality cropland held fairly steady. Farmland sale activity in the first part of the year was slower than it had been for some time with late spring and early summer especially void of farms for sale. The historically delayed and prevented planting season had much to do with the lower activity during that time. Land values in 2019 once again bucked the prevailing depressed mood in agriculture to hold steady or even increase slightly in some instances except ...
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There are currently a number of issues impacting the ASFMRA from Washington, D.C., particularly for appraisers. One of the biggest hot button issues revolves around “evaluations.” What are they and who is allowed to do them? USPAP briefly mentions evaluations but instructs appraisers to call them “restricted appraisal reports.” That’s all well and good, but there are a lot of potential customers that don’t want the terms “restricted” and/or “appraisal” in their work file. They simply want a number. Read the full blog post here
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