Blogs

Don’t Make the Same Mistake Twice

By ASFMRA Press posted 2 days ago
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By Claudia Gaglione, Esq., Gaglione, Dolan & Kaplan National Claims Counsel for LIA Administrators & Insurance Services In the world of real estate appraisals, a cardinal rule should always be "Don't Make the Same Mistake Twice!" Unfortunately, there have been recent incidents that underscore the importance of treating each appraisal assignment as a unique endeavor rather than a mere repetition of the past. Problems tend to emerge when appraisers or appraisal firms simply recycle information from older reports into new ones without conducting thorough checks and verifications. It should never be assumed that all the information from previous appraisals ...
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2023 ASFMRA Awards Presented in Nashville

By ASFMRA Press posted 9 days ago
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FOR IMMEDIATE RELEASE Contact: Andrew Eames Tel. 303.692.1210 Email: aeames@asfmra.org Rural Property Professionals Receive Recognition Awards Given at 2023 ASFMRA Annual Conference in Nashville November 15, 2023 Glendale, Colo. – The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) honored dozens of rural appraisers, farm managers and consultants today during the 2023 ASFMRA Annual Conference on November 15, 2023, in Nashville, Tennessee. At the Accreditation and Awards Ceremony, sponsored by Hertz Farm Management, it was announced that 13 ASFMRA members received their Accredited Farm Management (AFM) designation, while one member ...
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ASFMRA Ag News - November 21, 2023

By ASFMRA Press posted 9 days ago
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Who’s Buying Nebraska? Corporations, Investors Grabbing Giant Chunks of Nebraska Farmland There’s never a Black Friday discount when a piece of Nebraska farmland hits the market in 2023, be it a fertile field in the Platte River Valley or a vast swath of Sandhills pastureland. The market’s hot. And corporate farms, both in-state and out, are dipping into their deep pockets to claim the increasingly pricey agricultural land they desire. The nine buyers who spent the most money on Nebraska farmland in the past five years are all corporate farming operations, real estate developers or investment firms, an analysis by the Flatwater Free Press found. ...
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Septic Tanks... Again!!

By ASFMRA Press posted 23 days ago
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By Claudia Gaglione, Esq., Gaglione, Dolan & Kaplan National Claims Counsel for LIA Administrators & Insurance Services It may seem like we talk about septic tanks quite frequently, and this is due to the persistent occurrence of claims stemming from septic tank problems. Rural properties often lack connections to public sewers, relying instead on septic tanks for waste management. It's essential for appraisers to dedicate attention to incorporating septic tank-related language into their reports. By doing so, they can provide valuable support when these claims arise, equipping their legal counsel with the necessary information to defend their case ...
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Land Value Trends in Select Farmland & Timberland Regions, 2021-2023

By ASFMRA Press posted 23 days ago
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Staying up-to-date with land value trends and total transactions is imperative for appraisers, farm managers, and other land professionals. Here are findings for land value and transaction history trends within the past 2 years for prime farmland (Illinois and Iowa) and timberland (Georgia) markets in the US. Results were gathered from AcreValue’s online sales records database using the Market Dashboard and property mapping services. Prime Farmland, Examples from Illinois The average sale price per acre of prime farmland* across Illinois has been steadily increasing over the past 2 years (Q4 2021 – present). When data for the prior 2 years is included ...
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ASFMRA Ag News - November 7, 2023

By ASFMRA Press posted 24 days ago
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Silicon Valley Billionaires Bully Farmers & Landowners, Sue Over Inflated Land Prices A Silicon Valley group backed by billionaires said it’s acquired all the land it needs to build a utopian city in northern California, after quietly buying more properties in the past month. Flannery Associates, the company behind the California Forever project, spent more than $800 million scooping up land for the project, a buying spree done extremely discreetly over several years which was first revealed in late August by the media. The project has since faced criticism from local officials and residents who fear the impact of their plans on the environment, local ...
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Member Spotlight: Larissa C. Gordon, ARA

By ASFMRA Press posted 10-24-2023
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This latest ASFMRA Member Spotlight highlights Larissa C. Gordon, ARA, from the New Mexico Chapter. Larissa earned her Accredited Rural Appraiser designation this summer, and is currently working as a farm and ranch appraiser for Ag New Mexico Farm Credit Services, ACA. How did you get started in ag appraisal? I began my ag career as a Credit Analyst in 2014 within the Farm Credit System. It was an eye-opening experience that quickly made me realize how little about agriculture I actually knew. I seized the opportunity to learn from loan officers and the senior appraiser, taking in all I could and asking countless questions. The appraisal side really interested ...
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ASFMRA Ag News - October 24, 2023

By ASFMRA Press posted 10-24-2023
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Arkansas Orders Syngenta Land Sale Over Chinese Ties Arkansas Attorney General Tim Griffin has ordered Syngenta-owned Northrup King Seed Co. to sell 160 acres of land in the state because of their Chinese roots. Arkansas is giving Syngenta two years to sell its acreage in the northeastern part of the state, stating national security as the primary reason. According to Reuters, the global seed company is unsurprisingly discontent over the order. “This is about where your loyalties lie,” Arkansas Gov. Sarah Huckabee Sanders said at a news conference. Syngenta called the decision a “shortsighted action” that will hurt Arkansas farmers. ...
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ASFMRA Ag News - October 10, 2023

By ASFMRA Press posted 10-09-2023
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Patrick Swayze’s Former Los Angeles Ranch Hits the Market at $4.5 million The year after he was launched into silver screen notoriety in the notable 1983 films “The Outsiders” and “Uncommon Valor,” but still several years before he shimmied and dipped his way to leading man superstardom in “Dirty Dancing,” late actor Patrick Swayze acquired an equestrian ranch on the outskirts of Los Angeles that he named Rancho Bizarro. Swayze, a licensed pilot who died of pancreatic cancer at 57 years old in 2009, raised Arabian horses on the property. Newly listed for $4.5 million, the 4.5-acre spread in Sylmar is tucked into the rolling foothills that mark the northern ...
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ASFMRA Ag News - September 26, 2023

By ASFMRA Press posted 09-25-2023
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SOLD! 115 Acres of Missouri Farmland Just Sold For $34,800 Per Acre, Smashing the Previous Record Move over Iowa, there’s a new record farmland sale on the books. A piece of Missouri farmland underwent rapid-fire bidding, which racked the final price tag up to $34,800 per acre. The recent sale now beats out the previous record of $30,000 per acre in Iowa. According to the bill of sale from Dyer and Fenner Auctioneers, the record sale happened last Thursday in Saline County, Mo. Two farmers got in a bidding war, and in just 15 minutes the 115 acres sold for $34,800 an acre, setting the new record. The buyer wasn’t an investor. The winning bid came from ...
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ASFMRA Ag News - September 12, 2023

By ASFMRA Press posted 09-12-2023
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Summit Carbon Solutions Denied Permit for Carbon Dioxide Pipeline South Dakota's Public Utilities Commission on Monday denied a permit application from Iowa-based Summit Carbon Solutions to build 495 miles of pipeline through the state to transport captured carbon dioxide from ethanol plants to an underground storage site. The three-member commission voted unanimously to deny the company's application on what was set to be the first day of three weeks of evidentiary hearings on the project. Summit said in a statement that it respects the commission's decision and plans to refine and refile its application. On Friday, the PUC's staff recommended in a ...
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ASFMRA Ag News - August 29, 2023

By ASFMRA Press posted 08-29-2023
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Proposed Bill Would Increase Exemption for Estate Taxes Congressman Jimmy Panetta of California has reintroduced a bill in the U.S. House of Representatives with the aim of increasing the 2032A special-use valuation cap for qualified family farms. The intent of the increase is to reduce the number of family farms having to sell farm-related assets to satisfy an estate tax debt. If passed, the higher exemption will have a significant positive impact for farm families in taxable estate brackets. 2032A is a helpful tax valuation for farm families that reduces the value of some farm real property. Rather than having to value farm real property at market ...
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Foreign Investment in U.S. Farmland

By ASFMRA Press posted 08-15-2023
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By Kirk Weih, AFM Foreign investment in U.S. farmland continues to be a sensitive topic for many Americans, with concerns ranging from food security to national security. The global landscape has seen various countries and foreign individuals channeling their resources into American agriculture, raising questions about who is investing in U.S. farmland and the implications of such investments. The impact of public policy, the balance of trade, and the potential consequences for American agriculture have prompted policymakers to address these issues. Senator Joni Ernst (R-IA), in her role as a member of the Senate Committee on Agriculture, Nutrition and Forestry, ...
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ASFMRA Ag News - August 15, 2023

By ASFMRA Press posted 08-15-2023
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Why Big Finance Is Betting on Farmland On the wind-swept plains of the heartland, an agricultural revolution is quietly underway. This one’s not led by advances in machinery or biotech, but rather by the inconspicuous behemoths of financial institutions: the institutional investor. Who are these institutional investors? Everyday individual investors make up the entities buying farmland, bringing together funds from people of various professions and backgrounds. Individual investors are people just like you and me: teachers, health-care workers, civil servants contributing to pension funds, or affluent individuals or families engaged with mutual funds or ...
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ASFMRA Ag News - August 1, 2023

By ASFMRA Press posted 08-01-2023
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The ASFMRA Land Report on RFD-TV The ASFMRA has partnered with RFD-TV to bring you the ASFMRA Land Report, a weekly segment where the nation's top rural property professionals share timely updates on regional agricultural issues and market developments, with special attention paid to our most important resource: American farmland. Tune in to the leading ag and rural news network each Wednesday at 12:30 PM CT to gain insights from accredited land experts and learn the stories behind the numbers! Episodes to date: Rebecca Stone, ARA – July 26 Skye Root, AFM, AAC – July 19 Doug Hodge, ARA – July 12 Rick Hiatt, AFM, ARA – July 5 Tony ...
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ASFMRA Ag News - July 18, 2023

By ASFMRA Press posted 07-18-2023
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New Law Reduced South Dakota Farmland Valuations by $120.5 Million A South Dakota law that empowers counties to re-designate swaths of land from crop-land to non-crop land, aided in reducing farmland valuations by a total of $120.5 million. On Tuesday, lawmakers pressed the State Department of Revenue on whether the implementation of this law is working the way it was intended. The law, SDCL 10-6-130, permits South Dakota counties to assess the soil classifications of their land, and determine whether land with Class IV soils, or soils that have severe limitations that restrict crop growth, should be deemed cropland or non-crop land, potentially saving ...
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Vacant Land: Make Sure You Are Appraising the Right Property

By ASFMRA Press posted 06-27-2023
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By Claudia Gaglione, Esq., Gaglione, Dolan & Kaplan, National Claims Counsel for LIA Administrators & Insurance Services Imagine that you have accepted an assignment to appraise 15 acres of vacant land located in a remote area. You have been given several pieces of information such as an address, a plat map, a legal description, and a survey. As you make your way to what you believe is the correct location, doubts start to creep in. Are you absolutely certain that you have arrived at the right place? As far as your eyes can see, there is nothing but empty land stretching for miles. Occasionally, you spot a few scattered outbuildings and broken ...
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Member Spotlight: Andrew Rahn, ARA

By ASFMRA Press posted 06-20-2023
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This edition of the ASFMRA Member Spotlight will focus on Andy Rahn, the current President of the Montana Chapter of the ASFMRA, as well as the owner of Montana Land Source, based in Billings, Montana . How did you begin your career in agriculture? After getting my degree in Land Resource Science at Montana State University, I was hired by an ARA doing property research and GIS mapping. I helped develop a database of mapped listings and sales. Can you describe the work done by your company, Montana Land Source? My company maps and tracks all large-acreage land listings and sales across all of Montana, and makes that information available to subscribers. ...
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ASFMRA Ag News - June 20, 2023

By ASFMRA Press posted 06-19-2023
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Who Owns Iowa Farmland? Fewer than half the people at a recent farm auction in Clinton County were actual bidders. The rest came for the cookies, conversation and to see who would walk away with 150 acres of Iowa dirt. Would it be the men in suits sitting in folding chairs by the wall? What about the old-timer in overalls? Or would an online buyer swoop in with the highest bid? Read the Full Story Apple Co-founder to Sell Huge Carmel Valley Ranch for $35 Million A legendary Silicon Valley tech leader who bought a vast ranch in Carmel Valley 40 years ago is selling the property to a conservation group to become a new public preserve and cultural ...
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ASFMRA Ag News - June 6, 2023

By ASFMRA Press posted 06-05-2023
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Income Surges From Alternative Farmland Leases Every year presents a unique blend of challenges and rewards for farming. Few things have as much impact on a farming operation as land rent. In Illinois, 2022 proved to be exceptional for farmers and, subsequently, landowners, as reported in the recent survey by the Illinois Society of Professional Farm Managers and Rural Appraisers. One key finding was the significant surge in average income for landowners from alternative leases compared to the previous year. These numbers speak volumes about the prosperity that buoyed the farming community. Read the Full Story Dallenbach Racing Family Sells Iconic ...
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