Financial crisis forces farm choices | TSLN.com

Financial crisis forces farm choices

Elizabeth Williams

INDIANOLA, Iowa (DTN) – As stock market prices spiral, grain prices slip and credit lenders shudder, farmers are thinking twice about how they spend their money.

Farmers, as well as land realtors, banks, equipment dealers and others wonder how long lower prices will last. Farmers are evaluating whether to pay off debts, invest in land, postpone or cancel input costs such as seed and fertilizer, buy new equipment to avoid taxes or hold on to their equity.

“Just this morning, a landowner who had verbally agreed to buy a farm for a little over $7,000 per acre called me up and said he wanted to wait,” said

Dale Aupperle, president of Heartland Ag Group in Decatur, Ill., just as he closed a deal earlier this week. “He said he wanted to see if the land might drop $1,000 to $1,500 per acre in price.”

For non-farming prospective buyers, “it was like a light switch was tripped last week,” said Howard Halderman, with Halderman Real Estate and Farm Management in Wabash, Ind. “Farmland values haven’t gone down much, but I had three or four prospective buyers, people from town, tell me they were not interested in buying land right now in light of what’s happening with their 401(k).”

However, Halderman added that another auction this week “brought within 5 percent of what we were expecting on the high end. So we were satisfied, although three potential buyers with pre-approved loans didn’t show at the auction. I’ve had another buyer back out of a verbal agreement to purchase, but I’ve also gotten calls from several people who are interested in buying land as a safe investment.”

Recommended Stories For You

INDIANOLA, Iowa (DTN) – As stock market prices spiral, grain prices slip and credit lenders shudder, farmers are thinking twice about how they spend their money.

Farmers, as well as land realtors, banks, equipment dealers and others wonder how long lower prices will last. Farmers are evaluating whether to pay off debts, invest in land, postpone or cancel input costs such as seed and fertilizer, buy new equipment to avoid taxes or hold on to their equity.

“Just this morning, a landowner who had verbally agreed to buy a farm for a little over $7,000 per acre called me up and said he wanted to wait,” said

Dale Aupperle, president of Heartland Ag Group in Decatur, Ill., just as he closed a deal earlier this week. “He said he wanted to see if the land might drop $1,000 to $1,500 per acre in price.”

For non-farming prospective buyers, “it was like a light switch was tripped last week,” said Howard Halderman, with Halderman Real Estate and Farm Management in Wabash, Ind. “Farmland values haven’t gone down much, but I had three or four prospective buyers, people from town, tell me they were not interested in buying land right now in light of what’s happening with their 401(k).”

However, Halderman added that another auction this week “brought within 5 percent of what we were expecting on the high end. So we were satisfied, although three potential buyers with pre-approved loans didn’t show at the auction. I’ve had another buyer back out of a verbal agreement to purchase, but I’ve also gotten calls from several people who are interested in buying land as a safe investment.”

INDIANOLA, Iowa (DTN) – As stock market prices spiral, grain prices slip and credit lenders shudder, farmers are thinking twice about how they spend their money.

Farmers, as well as land realtors, banks, equipment dealers and others wonder how long lower prices will last. Farmers are evaluating whether to pay off debts, invest in land, postpone or cancel input costs such as seed and fertilizer, buy new equipment to avoid taxes or hold on to their equity.

“Just this morning, a landowner who had verbally agreed to buy a farm for a little over $7,000 per acre called me up and said he wanted to wait,” said

Dale Aupperle, president of Heartland Ag Group in Decatur, Ill., just as he closed a deal earlier this week. “He said he wanted to see if the land might drop $1,000 to $1,500 per acre in price.”

For non-farming prospective buyers, “it was like a light switch was tripped last week,” said Howard Halderman, with Halderman Real Estate and Farm Management in Wabash, Ind. “Farmland values haven’t gone down much, but I had three or four prospective buyers, people from town, tell me they were not interested in buying land right now in light of what’s happening with their 401(k).”

However, Halderman added that another auction this week “brought within 5 percent of what we were expecting on the high end. So we were satisfied, although three potential buyers with pre-approved loans didn’t show at the auction. I’ve had another buyer back out of a verbal agreement to purchase, but I’ve also gotten calls from several people who are interested in buying land as a safe investment.”

INDIANOLA, Iowa (DTN) – As stock market prices spiral, grain prices slip and credit lenders shudder, farmers are thinking twice about how they spend their money.

Farmers, as well as land realtors, banks, equipment dealers and others wonder how long lower prices will last. Farmers are evaluating whether to pay off debts, invest in land, postpone or cancel input costs such as seed and fertilizer, buy new equipment to avoid taxes or hold on to their equity.

“Just this morning, a landowner who had verbally agreed to buy a farm for a little over $7,000 per acre called me up and said he wanted to wait,” said

Dale Aupperle, president of Heartland Ag Group in Decatur, Ill., just as he closed a deal earlier this week. “He said he wanted to see if the land might drop $1,000 to $1,500 per acre in price.”

For non-farming prospective buyers, “it was like a light switch was tripped last week,” said Howard Halderman, with Halderman Real Estate and Farm Management in Wabash, Ind. “Farmland values haven’t gone down much, but I had three or four prospective buyers, people from town, tell me they were not interested in buying land right now in light of what’s happening with their 401(k).”

However, Halderman added that another auction this week “brought within 5 percent of what we were expecting on the high end. So we were satisfied, although three potential buyers with pre-approved loans didn’t show at the auction. I’ve had another buyer back out of a verbal agreement to purchase, but I’ve also gotten calls from several people who are interested in buying land as a safe investment.”

INDIANOLA, Iowa (DTN) – As stock market prices spiral, grain prices slip and credit lenders shudder, farmers are thinking twice about how they spend their money.

Farmers, as well as land realtors, banks, equipment dealers and others wonder how long lower prices will last. Farmers are evaluating whether to pay off debts, invest in land, postpone or cancel input costs such as seed and fertilizer, buy new equipment to avoid taxes or hold on to their equity.

“Just this morning, a landowner who had verbally agreed to buy a farm for a little over $7,000 per acre called me up and said he wanted to wait,” said

Dale Aupperle, president of Heartland Ag Group in Decatur, Ill., just as he closed a deal earlier this week. “He said he wanted to see if the land might drop $1,000 to $1,500 per acre in price.”

For non-farming prospective buyers, “it was like a light switch was tripped last week,” said Howard Halderman, with Halderman Real Estate and Farm Management in Wabash, Ind. “Farmland values haven’t gone down much, but I had three or four prospective buyers, people from town, tell me they were not interested in buying land right now in light of what’s happening with their 401(k).”

However, Halderman added that another auction this week “brought within 5 percent of what we were expecting on the high end. So we were satisfied, although three potential buyers with pre-approved loans didn’t show at the auction. I’ve had another buyer back out of a verbal agreement to purchase, but I’ve also gotten calls from several people who are interested in buying land as a safe investment.”

INDIANOLA, Iowa (DTN) – As stock market prices spiral, grain prices slip and credit lenders shudder, farmers are thinking twice about how they spend their money.

Farmers, as well as land realtors, banks, equipment dealers and others wonder how long lower prices will last. Farmers are evaluating whether to pay off debts, invest in land, postpone or cancel input costs such as seed and fertilizer, buy new equipment to avoid taxes or hold on to their equity.

“Just this morning, a landowner who had verbally agreed to buy a farm for a little over $7,000 per acre called me up and said he wanted to wait,” said

Dale Aupperle, president of Heartland Ag Group in Decatur, Ill., just as he closed a deal earlier this week. “He said he wanted to see if the land might drop $1,000 to $1,500 per acre in price.”

For non-farming prospective buyers, “it was like a light switch was tripped last week,” said Howard Halderman, with Halderman Real Estate and Farm Management in Wabash, Ind. “Farmland values haven’t gone down much, but I had three or four prospective buyers, people from town, tell me they were not interested in buying land right now in light of what’s happening with their 401(k).”

However, Halderman added that another auction this week “brought within 5 percent of what we were expecting on the high end. So we were satisfied, although three potential buyers with pre-approved loans didn’t show at the auction. I’ve had another buyer back out of a verbal agreement to purchase, but I’ve also gotten calls from several people who are interested in buying land as a safe investment.”