New research brings more hope for farmers, at least when it comes to real estate. Although the news, per the below linked story, is encouraging, the significance comes with what you do with the research. Good opportunities are not always obvious.
While most states are showing increases in the value of farmland, the opportunities come from being able to leverage that value. Finding and having valuable research makes a difference, but should be the beginning of a plan for real estate investors, owners, brokers, contractors, and lenders.
One path I suggest to many of clients, students, and connections is to consider any and all options for an acquisition, renovation, or expansion situation. A potential buyer could use more reasons to proceed than the seller realizes. A seller could use additional advantages to encourage the sale. Brokers should be looking for incentives for their clients, while contractors could be applying added skill sets and capabilities.
For example, I have access to tiny homes which are zoned expressly for agricultural properties. Instead of wasting acreage with trees, a creek, or too close to the road, the land owner could be renting living space to employees, students, or seasonal travelers. I see plenty of current farm space, especially within minutes of college towns, which could be adding monthly income for farmers.
This new research shows an encouraging trend. It takes an effort to take advantage of that trend, and exploring all options is part of that.
https://www.fb.org/market-intel/real-estate-rising-farmland-values-hit-record-high
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