Raleigh took another jump forward in the food scene today with the opening of the much anticipated (and delayed) Morgan Street Food Hall located at 411 West Morgan Street. The concept is a group
FUNDAMENTALS OF SELLING LARGE TRACK LAND
Selling your farmland or land may be one of the most difficult decisions you make. Whether it is the family farm passed down through generations or land that you have improved through your hard work and investment of capital, the sale of your property is not always cut and dry.
Economics of Large Track Land
Land values, like corn and soybean prices, fluctuate based on economics. Typically, when optimism about the grain markets and expected returns are high, land prices tend to increase. Today, demand remains strong for the purchase of land; however, commodity prices and future return expectations are much lower. This said many buyers are in a strong cash position to purchase your land as soon as we list it on the market.
Timing of Your Listing
Much can be said about the timing of putting a farm for sale on the market, but historically, more buyers are looking at land that is for sale when they are not busy with other work. Buyers often prefer to take possession of a farm before the next crop season and many sellers enjoy ending the calendar year with a sale and cash at closing. Farms can be sold during every season, but when the “for sale” sign goes up, you’ve established control of the market and are not leaving it up to chance. With the current economics our real estate cycle is in full growth mode. How long will this cycle maintain its growth it’s an unknown, economist is forecasting a market peak around 2Q2019. However, there are multiple factors that can and will change this time slot, right now is the best time to take advantage of the current market!
What is my LAND Really worth?
The basics of farm land values boil down to five criteria: 1) Location 2) Rainfall/Precipitation 3) Soil 4) Drainage 5) Feasibility of the land. Additionally, knowing as much as possible from the sales over the last few years are the foundation for getting the most net dollars. Remember, not all farms are created equal. Differences in size, shape, economics and the basic five criteria of farmland affect value. Understanding the basics and consulting a land broker will give you the confidence to sell and achieve your goal for a well-deserved profit.
Planning for tax implications such as capital gains is vital to maximizing your net return on the sale of farmland. There are other tax reduction vehicles (trusts, TOD, charitable remainder trusts, etc.) that could be beneficial depending on your unique financial position. Work with a knowledgeable land broker and estate planning expert to navigate your options.
Committed to helping you achieve the highest returns
HTR is an independent company with local roots and national branches through its membership Referral Exchange, a network of over 20K licensed agents in all 50 states. HTR has strong working relationships with area builders, developers, businesses and city/county/state government officials. As the leading expertsin farmland and wooded property sales & auctions, we provide a complete range of services in the acquisition and saleof your unique land and agricultural investments.HTR believes Customers First is the winning solution! No real estate transaction is too large or too small for the HTR team! For more information, visitwww.HTRRaleigh.com
About the Author
Greg Buscher is a graduate of Florida State University and Land Broker with HTR Capital Group, LLC specializing in Farms & Raw Land in Eastern North Carolina. See additional commentary on issues important to the farming and land community and strategies for maximizing land values can be found at: http://gbuscher.myhtrraleigh.com/ or contact Gregory Buscher, Relator at 919-795-9720 [email protected]
Anyone who knows me will tell you I have never met a stranger. I enjoy getting to know people and helping them however I can. That’s what prompted me to change career paths and become a Licensed R....