On Thursday, March 3rd we had another great land auction! The “SOLD” 49 acre tract is located in Section 35, Kerkhoven Township of Swift County. This farm was well tiled with a crop production index of 87.3 (that number is on the high end for Swift County). As with all auctions, the marketing of this farm was handled thoroughly to produce fair market value on auction day….and indeed it did!
Auction day, was comprised of seventeen registered bidders and a room full of “Sweet Scandinavians” who enjoyed listening to the auction, and the fellowship with their cup of coffee and cookie in hand. The festivities started with a welcome, terms/conditions and the bidding began. The auction opened with a bid of 4,000 per acre and within seconds was at 4,900 per acre. I told the crowd that the farm was now being sold absolute and we would have a new owner. Prior to saying sold, I scanned the crowd one more time to give everyone in the room an equal opportunity. There was no more bids, the strong bidding had already taken place and I said SOLD! The contract price came to $5,196 (that includes the buyers premium). Most importantly, our goal is to provide quality service and a “first rate” auction experience to our sellers and buyers. All of the parties involved were very pleased with the auction.
I haven’t checked yet, however, I believe this may be a record sale for Swift County. Currently, land prices are at an all time high and I believe the the driving force is high commodity prices and the lack of supply versus the high demand. If you are considering selling, the prices have never been better and the capital gains tax rate is still historically low. Call us today for a private consultation regarding what your farm land is worth!
-Kristine Fladeboe Duininck
Heller Group – 1 Stop Realty, Inc.