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Successful Land Sale: Year-End Sale in Eastern Iowa Nets $7,600
Spending a little time at a local farmland auction is not a bad way to spend part of the holiday season, and the sale of 181.68 acres in Johnson County, Iowa, didn't disappoint.
The farm featured three contiguous tracts between Riverside and Lone Tree. There were two tracts of farmland and a 40.04-acre parcel of wooded land.
Combined, the sale netted $1.031 million, or $5,675 per acre. Here's how the individual tracts sold:
Tract 1: 76.845 acres (71.85 acres tillable), with mostly Sperry, Muscatine, and Walford silt loam soils with a Corn Suitability Rating 2 (CSR2) of 71.1 (based on a 5-100 scale). It sold for $584,022 ($7,600 per acre).
Tract 2: 64.79 acres (62.05 acres tillable), with mostly Udolpho and Hoopestine soils. It sold for $336,908 ($5,200 per acre).
Tract 3: 40.04 acres of mostly wooded land (3.75 acres are tillable, ideal for wildlife food plots), with creek and potential building site. The tract meets the county's zoning and acreage requirements for rural homesites. It sold for $110,110 ($2,750 per acre).
None of the tracts had been enrolled in Farm Service Agency programs, giving the new owners a chance to start fresh with the new farm program.
In the end, the "sellers were happy," says Carrie Fraise, marketing manager at Fraise Auction and Realty, which had the sale. "It was a good sale. Tract one met expectations, tract two exceeded expectations, and we weren't sure how Tract 3 would fare."
Farmers bought Tracts 1 and 2; Tract 3 was bought by an outdoors enthusiast.
The 10-year average corn yield in Johnson County is $164 bushels per acre; for soybeans, it is 49 bushels per acre. The average cash rent in 2015 is $234 per acre, while average value for farmland per acre is $9,114, according to Iowa State University and USDA.
For more, log onto www.FraiseAuction.com.
Best of the Rest
Iowa, southeast: 76.56 acres of tillable land southeast of Bloomfield in Davis County sold Dec. 21. The tract has 73.83 acres of tillable land that has been terraced and pattern tiled. It features Seymore, Edina, and Clarinda soils, with a CSR2 of 50.3 (based on a 0-100 scale). The tract sold for $424,908 ($5,550 per acre). Sullivan Auctioneers had the sale.
South Dakota, southeast: 160 acres northwest of Midway in Yankton County sold Dec. 29. The farm had two adjoining tracts of 80 acres each. Tract 1, 76.76 acres, features mostly Class II Clarno-Bonilla soils, with a Productivity Index of 76.2 (on a 0-100 scale). Tract 2, 79.43 acres, has mostly Clarno-Bonilla soils with a 76.9 PI. The tract sold for $1.048 million ($6,550 per acre). Wieman Land and Auction had the sale.