The good news is land prices seem to have peaked, and may have dropped a bit in the past year. The bad news is commodity prices and interest rates are low. If commodity prices continue to stay low, farmland prices will decline. If interest rates go up (and they have nowhere else to go), land prices are going to drop.
You need to think long and hard about what that land might go for, and what's the absolute most you're willing to pay. Understand that it's quite unlikely you will be able to purchase the property at a price where it will generate a positive cash flow at today's commodity prices. Are there enough good reasons to buy it even if you'll lose money on it in the short term?
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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