The Clinton Herald, Clinton, Iowa

AP story section

December 13, 2013

Agriculture: ISU survey shows 5.1% hike in farmland values

DES MOINES (AP) — An annual survey showed Iowa’s farmland values continue to climb, increasing 5.1 percent from last year, but some real estate experts said those prices have already begun to fall.

The 2013 Iowa Land Value Survey found that farmland values rose to more than $8,700 an acre. It was the fourth year in a row that farmland values rose in the Iowa State University survey of nearly 500 real estate experts. Last year’s figure was nearly $8,300 an acre.

But Michael Duffy, an Iowa State agriculture economist who conducts the survey, said values were “in flux,” with most price increases in the first half of the year. Land values have weakened as corn and soybean prices dropped. Corn has declined from a high of about $8 a bushel to about $4 a bushel.

There also has been uncertainty about a proposed rollback in the mandate for corn-based ethanol, the possibility of rising interest rates and an inability in Congress to approve a new farm bill.

“It was a tale of two markets,” Chris Smith, a real estate agent with Hertz Farm Management in Nevada, told The Des Moines Register. “We lost ground in the second half of the year.”

Steve Bruere, president of Clive-based real estate firm Peoples Co., estimated current land prices could be 10 percent to 20 percent lower than last year’s values.

The 5.1 percent increase was much smaller than increases seen in recent years, when values grew by double-digits. The last time values dropped was in 2009, when they dipped by 2 percent.

“It’s more challenging to get the prices that we were seeing a year ago,” Bruere said.

 

 

1
Text Only
AP story section
  • State to reopen Juvenile Home DES MOINES -- A district court judge on Wednesday ordered the state to reopen the Iowa Juvenile Home, telling Gov. Terry Branstad he cannot unilaterally change a law approved by the state Legislature. Judge Scott Rosenberg said the home in Toledo was

    February 6, 2014

  • Panel OKs ban on remote abortion pill distribution DES MOINES -- A legislative panel approved a measure Wednesday that would ban the remote distribution of abortion pills, a proposal the bill's sponsor said is intended to delay the procedure and give women more time to change their minds. The subcomm

    February 6, 2014

  • Sioux City gambling group halts local grants SIOUX CITY -- The nonprofit that holds the gambling license for the Argosy Sioux City riverboat casino has voted to temporarily stop sending grants to local charities and government agencies. A legal dispute with the operator of the casino, Penn Nati

    January 15, 2014

  • Davenport pays, apologizes to hearing impaired man DAVENPORT (AP) -- The city of Davenport has issued an unusual apology to a former alderman after a police employee was caught on tape saying that he intentionally knocked softly on the hearing-impaired man's door when responding to a service call. Th

    January 15, 2014

  • Budget Branstad presents budget for next fiscal year DES MOINES -- Gov. Terry Branstad offered a budget proposal Tuesday that includes a tax break for veterans, a tuition freeze for college students and incentives to encourage Internet expansion in rural Iowa, a more modest list of priorities one year

    January 15, 2014 1 Photo

  • Gov. restores more felons' voting rights IOWA CITY (AP) -- Gov. Terry Branstad restored voting rights to more felons in 2013 than the prior two years combined, but thousands of others remain disenfranchised under a 2011 policy change. Data released by the governor's office to The Associated

    January 15, 2014

  • Man fatally shot at Fla. theater over texting WESLEY CHAPEL, Fla. (AP) -- A 71-year-old retired police officer accused of shooting a man dead in a Florida movie theater told authorities that "he was in fear of being attacked" during Monday's confrontation. Curtis Reeves is charged with second-de

    January 15, 2014

  • Iowa Senator: Congress must confirm election board DES MOINES -- An Iowa senator asked a U.S. Senate committee Wednesday to confirm appointees to a federal election commission so a decision can be made about whether Iowa Secretary of State Matt Schultz is properly using money for voter-fraud investig

    January 9, 2014

  • School Discipline Gov't: End overly zealous discipline in schools WASHINGTON, D.C. -- The Obama administration is urging schools to abandon overly zealous discipline policies that civil rights advocates have long said lead to a school-to-prison pipeline that discriminates against minority students. The wide-ranging

    January 9, 2014 1 Photo

  • Governor, lawmakers set modest goals for 2014 DES MOINES -- After reaching bipartisan agreements on several major policy initiatives last year, Gov. Terry Branstad said Wednesday that he is setting more modest expectations for the 2014 legislative session. Speaking at The Associated Press' annua

    January 9, 2014

AP Video
Facebook
National News