|"Portrait of a Lonely Barn" - Bates City, Missouri|
J. and I headed to an auction this morning in Bates City, which is a good 30+ minutes to the east of Kansas City down I-70. When we took the exit and immediately found ourselves looking at the snow retreating from fields full of dirt black as coal, I took a deep breath and relaxed. It felt like home. It smelled like Spring.
Sometimes we know the stories behind estate auctions but this one wasn't the usual run-down-family-farm-with-a-paintless-barn-that-is-barely-standing-after-the-old-farmer-passed-and-no-wanted-to-follow-in-his-footsteps story. The brick house with its 3 garages looked brand new and it sat on 41 acres with nice-sized new barn and a second tract of 20+ acres for sale separately. In the living room was a whiteboard that showed the bids on the house and the 2nd tract. Someone bought them both for $535,000. I marveled to J. that it seemed like a really high price.
Then we walked down to the barn to look at the 2005 John Deere 5103 tractor and Gator that they were selling. Both went high - the tractor sold for $12,000 and it didn't have a loader like mine. Knowing that it would be $6 - 7K to add the loader, I feel good about paying $15,000 for mine last year with the loader. I s'pose it always feels good to think you got a good deal.
And that got me to thinking about our farmland. We bought it over a decade ago and paid $72,000 for 40 acres with a brand new 30' x 40' Cleary building on it. I'd say the going price to have that barn built was $10,000; maybe $12,000 with the concrete work and clearing. Doing the math, that's $1,500 per acre. We scrimped and saved to pay for it and the mortgage on our house, but it was a labor of love.
But this auction? If we say the house was worth a generous $250,000, that land sold for somewhere around $5,000 per acre. And that got me to thinking some more. So I did some looking at UnitedCountry and LandsOfAmerica and was dumbstruck to see a farm just down the road for us selling for over $4,000 per acre. Holy crow! We could sell and make a tidy little profit if we were so inclined.
|Courtesy of Univesity of Missouri Extension. Our area had the highest increase!|
Am I selling? No way, Mr. Auctioneer. No way.
I've shared this post with this week's Weekly Top Shot. If you want to see some awesome photography, that's the place to be!