The Farmland Market Is On Fire!

 

How Do You Extend A Helping Hand?

The Bible reminds us of the enduring presence of the poor and needy; this truth remains evident in today's world.

We don't have to search far to witness the overwhelming need surrounding us. It's important to note that helping doesn't imply a mere handout; rather, it signifies extending a helping hand.

So, what should one do when approached by a person on the street asking for money to alleviate hunger?

Even in our relatively smaller community of Lafayette, IN, such encounters occur more frequently than one might imagine.

It's often easy to dismiss such requests with grumbling or even worse. However, on one occasion, a

gentleman caught me in the right mood, asking for money to buy a Coke from McDonald's.

Instead of immediately dismissing him, I conversed, asking him questions. I expressed my uncertainty about his intentions—

How could I know if he would truly use the money as claimed or instead indulge in drugs around the corner?

He insisted, swearing on his mother's grave and every other grave imaginable, that he would never deceive me.

I chuckled and remarked that he had every reason to lie. Still, I reached into my wallet, withdrew a $5 bill, and said, "Go buy yourself something to eat. However, if you choose to spend it otherwise, that's on you. Remember our encounter, as I'm still around, and our paths may cross again."

A few days later, I ran into him again and asked, 

"What did you do with the money I gave you?"

He chuckled and pointed at his cigarette. I laughed as well and said, "I hope you enjoy it."

In another instance, while heading to a restaurant for a business lunch, a man informed me that he had just been released from prison, was hungry, and requested money for food. I replied,

"Meet me back here in an hour, and I'll have a sandwich for you."

After completing my business lunch, I purchased a sandwich for the man and searched for him, but despite walking around downtown Lafayette for 30 minutes, I couldn't find him.

Naturally, I felt frustrated and vowed to never repeat the experience.

Yet, on a different occasion, as I was leaving my office late in the evening, a woman suddenly emerged from around the front of my vehicle in the dark parking lot. She explained that she was homeless, cold, and hungry and asked if I could help her.

Initially, I grumbled a "no," and she started to walk away. However, the good Lord prompted me as I remembered I had a Wendy's grilled chicken sandwich in the back of my truck, which was intended to be my supper on the way home. I called out to her, saying,

"Hey, if you'd like a Wendy's sandwich, I have one."

She returned, accepted the sandwich, and expressed profuse gratitude.

While the good Lord doesn't expect us to give away our resources indiscriminately, showing compassion and mercy to our fellow human beings never goes out of style.

Oshkosh: My Happy Place

The Oshkosh event, held annually in July, is a highly anticipated gathering that celebrates the world of aviation in all its splendor.

Hosted in Oshkosh, Wisconsin, this event serves as a magnificent spectacle where aviation enthusiasts and professionals come together to share their passion for flight.

Central to the event is the impressive display of aircraft, ranging from vintage planes to cutting-edge experimental models. Attendees are treated to a captivating array of airshows, demonstrations, and interactive exhibits that showcase the evolution of aviation technology and its rich history.

Pilots, mechanics, and aviation aficionados from around the globe converge at Oshkosh, fostering a vibrant atmosphere of knowledge-sharing and camaraderie.

Beyond the aircraft, the event also offers workshops, forums, and seminars on various aviation-related topics, making it an educational and entertaining experience for attendees of all ages.

With its iconic aviation showcases and vibrant community spirit, the Oshkosh event in July has rightfully earned its place as one of the most significant gatherings in the aviation world, and known as for me, one of the happiest places in the world.

Four Farm Auction Myths Debunked

 

In recent times, the majority of farmland is sold through real estate auctions, with very few farms being listed privately for sale.

However, there remains a significant misunderstanding regarding the effectiveness and rationale behind farm real estate auctions.

Unfortunately, numerous myths and misconceptions persist regarding farm real estate auctions.

Some people still believe that a farm goes to auction only when the seller is experiencing financial distress or is on the verge of losing the property. 

This perception couldn't be further from the truth.

Nonetheless, it is understandable that sellers have questions and concerns.

Competition is a driving force. 

Competition often leads individuals to pay more for an item than they initially intended.

The sale of farmland is no exception to this phenomenon.

Over the past six months, every farm real estate auction I conducted resulted in at least a 10% increase in the final sale price compared to what we would have asked for if the property had been listed traditionally.

What happens if the top bid falls short of the expected price?

It's important to note that in Indiana, auctions are typically conducted with a reserve unless stated otherwise, granting the seller the right to decline the sale if the price does not meet their expectations.

In my four decades of selling properties at auction, I have encountered this situation only twice, and both instances involved small tracts or residential properties.

Large pieces of land have consistently fetched prices in line with our projections.

How can we count on the top bidder to follow through? 

Most farmland real estate auctions require a 10% nonrefundable earnest money deposit within 24 hours of signing a purchase agreement.

Once the title company has received this deposit, the transaction becomes secure, as no buyer wants to forfeit a substantial sum of money by defaulting.

In my 40 years of selling farm real estate, I have never encountered a situation where a buyer failed to follow through after submitting the earnest money deposit.

 

The last three years I have seen farm land values rising as much as 10 % per year in some areas. An old client told me a long time ago, “they quit making land on the third day.” And most farmland buyers are taking that adage into account.

The competition of farmland is keen among outside investors, local investors, and local operators.

There is no better way to see what a farm is worth than to put it for auction. This is a tried and true way of selling farmland real estate.

When was the last time someone did an analysis on your farm, so you have a good handle on market value?

If it’s been a while, I’d be happy to perform that service for you. 

How can I Help Your Clients?

 

If you find yourself dealing with clients who are unsure about managing their inherited farmland, especially when there are varying opinions among the heirs, that's an area where I specialize.

In such scenarios, the initial step is to accurately assess the value of the farmland.

I possess expertise in evaluating farmland values.

Once the value is established, the owners can proceed to seek advice from their legal and financial advisors. This will enable them to determine the optimal path forward by incorporating the assessed value and leveraging professional guidance.