Selling your farm? Now may be a good time.

Real estate in Idaho has been good for those that are in the farming industry and now may be a good time to sell for a good price. Commodities have been high and good farm ground tends to sell quickly. That in turn has driven the prices up as well as the rarity of finding good land.

There are also some other factors to consider. First, according to the Farm Bureau, the current high land price scenario for farms may continue into this summer. Second, I was just checking from the USDA and the report for Jan 13th on Idaho premium hay was at an average of $250/ton, good is at $220, and fair at 200. That can make for a pretty good farming year. Third, from the Farm Bureau is that estate taxes may drastically change in the beginning of next year. It may be a great thing that your farmland will be worth a lot, but it may cost you hundreds of thousands just to keep the farm within the family. The estate tax relief would have disappeared this year if the congress hadn’t set the exemption at $5 million with a top tax rate of 35%. For the beginning of next year, that could change to $1 million and 55%. Now that is a huge difference.

So you may want to consider selling your farmland. I’m not saying that all will go downhill, but you can’t help but wonder if the farmland is also in a bubble just as the residential was a few years ago. To give you a fact about us…because of our participation with Cabela’s Trophy Properties, we do provide access to local, regional, and international buyers / agents. We do currently have buyers looking for great farm ground and some would prefer to lease it back to you after buying it with cash. I don’t pretend to hide anything; some are institutional buyers and we can provide you with examples and testimonials while others are just looking at increasing their assets. We have sold some great pieces recently and are looking for more. Give me or Mike a call at 208-766-5000 or contact us here. We’d be happy to work with you and explain what we have available.

Steve Atkinson

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