Everett Griner talks about the different things that have an impact on farmland value in today’s Agri View.
Buying farmland is a little tricky. If one is looking for the best price, it may take a little time. That is because land prices follow market levels. When commodity prices are high, land values go up. And just the opposite when prices are down. But the market level is just one factor that impacts land values. Add in interest rates, inflation, the world economy. Even weather can have an impact on the price of a piece of farmland. Finally, there is one other factor to be considered: where the land is located. Historically, land values in the upper Midwest carry the highest prices while the Southeast and the Southwest take times at being the lowest. The reason is, the regions are most affected by weather patterns. Finally, consider taxes. They vary, but they do have an impact.
That’s Agri View for today. I’m Everett Griner…
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