Farmland Values
On Thursday, the Federal Reserve Banks of Chicago, St. Louis, and Kansas City each released updates regarding farmland values and agricultural credit conditions from the fourth quarter of last year. The Fed reports, which contained concerning news for farmers, came on the heels of USDA’s forecast that U.S. farm incomes will drop 8.7% in 2017. On the same day that The Wall Street Journal ran a front-page story titled, “The Next Farm Bust is Coming.”
David Oppedahl, Senior Business Economist at the Chicago Fed, explained last week in The AgLetter that, “(Farmland) values in the Seventh Federal Reserve District suffered a third consecutive annual decrease. Yet the 1 percent decrease for 2016 was smaller than the 3 percent declines for the previous two years. ‘Good’ farmland values in the fourth quarter of 2016 were down 1 percent from the third quarter, according to 192 survey respondents from District banks.”
As you know experts can be wrong about farmland values.
It’s as if they tied on their aprons and hid in the kitchen all day dishing up Porter and black forest ham. They are worried about the banks, and the mounting debt worldwide, and even war. There are other experts, who think we are climbing out of a hole of sub-par growth. They hiss at the fools who predict gloom and doom, recession or depression. We will, they say, be picnicking on top of the green hills, drinking wine and nibbling on green olives, celebrating the good times. I’m not smart enough to figure it all out.
Here’s what I do know. If you have been planning on downsizing before summer arrives now that the children have flown like birds, or planning on your flight to someplace south of the border, you don’t want to wait and wait and wait. If you have a house to unload because you or your mate filed for divorce and you want to get on with your life, you don’t want to wait. Maybe you inherited a house and want to sell because you live in another city. Or you are facing financial winds and fear the loss of your house, you don’t want to wait either.
There is another way. Call us today at (816) 866.0566
We will do a walk-through of your house. We will note what repairs are needed and what needs to be done to bring it in line with what buyers demand. New homebuyers want granite countertops, under counter wine refrigerators, stainless appliances, and updated bathrooms. We will figure out what we need as a profit and offer you a price for you home. You are free to accept or reject our offer. You are under no obligation. There are no fees and no commissions of 5% to 6%. We will make you a cash offer for your house and close in less than 30 days. Simple! No open houses, no visitors wandering through your house and closets.
Terra Firma Property Solutions, LLC is a professional, full-service real estate solutions firm that buys and sells properties throughout the greater Kansas City area. We specialize in buying distressed homes, then renovating and reselling them to home buyers and landlords. Terra Firma Property Solutions is excited to be part of the economic rejuvenation of Kansas City and its surrounding areas.
Call us today at (816) 866.0566
