Square Section Selling by auction March 31

[ASRG]

Section of cropland selling right west of me (near Penhold Alberta). I have no interest in it but it will be interesting to see what it sells for.
A quarter (actually 149 acres) one mile west of this land sold for $775K last spring by auction.
More money than brains out here in Alberta!

[ALLFARMER]

One thing is always true about AB
farmland....next year it will cost more. I don't
recall one year in my farming where this hasn't
been true. Guys odiously at times have set the
market higher but in 2 years 3 max it's average
price.

4 quarters with a yardsite minus a house sell
here in 3 weeks, close to town good land. Gunna
be a million could hit 1.4

[per]

The value of land stays constant. It is the value of money that fluctuates. That is why land is a good place to park money.

To your point about it never going down, I bought a piece of land that previously sold for $1000/acre for $600/acre and then bought the quarter next door for $2000/acre. Same land, same value, fluctuating monetary value. There will always be periods of lower priced land because a trend is a trend until it is not. (Buffet) If of course it is next to you and you want it, then the opportunity seldom comes back to you.

[BTO_farmall]

I Don't Even Want to Think About Buying Land in Alberta, Thank The Hutts, Fukin Dumbies...................

[kato]

In Manitoba the ones buying land around here are the bigger grain farmers who have lots of paid off land on their balance sheets. If you've got fifteen or twenty quarters paid for, you will be able to pay whatever it takes to outbid the other guys, and on a proportional basis, it isn't that expensive.

Some land sold near here for $2000.00 an acre last year, and people are still talking about that deal. It was an all time world record, and the banks are reluctant to use it as a benchmark. No one can believe it.

To get a good price for your land here you need to be near a group of large expanding grain farmers, or have potato land.

We have also seen guys move here from Alberta, because they can sell a small farm, and buy a big one here. Same thing for Europeans.

Us local yokels, OTOH, can't afford to expand. Same problem as in Alberta, but with less money involved. But the result is still the same. The big get bigger, and the small stay that way, or get real small and quit working so hard.

[ALLFARMER]

Very true Kato about balance sheets! 20 or so
paid off quarters and you can pick off what ever
more land you want.

[ASRG]

I guess I should mention this land is only two miles off the QEII (the highway between Calgary and Edmonton)and close to Red Deer, and that will definitely influence the price.
Also this is in the black soil zone.
Land in this area is always very expensive.

[rook]

any oil or gas leases on that section?

[ASRG]

No there aren't any. This old boy hated the O & G industry!
There is lots of oil and gas leases in the area.