Posts made by author 'Ruhl Marketing Team'
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10
Iowa Cropland Values Are Stable
The Land Trends and Value Survey, presented by the Iowa Farm and Land Chapter #2 REALTORS Land Institute, reported a 3.1% decrease in value on a statewide average for the September 2023 to March 2024 time period. This is following the March 2023 to September 2023 time period that showed a 0.2% decrease, giving us a 12-month decrease of 3 .3% for the State of Iowa on tillable acres. After a period of rapidly increasing values, the tillable land market has leveled off and softened slightly. Pastureland (down 2.2%) and Timberland (down 2.2%) followed the trend of tillable acres and saw small decreases for the six-month period as well.
Survey respondents described the market as being "tentative" and "selective" but "surprisingly stable". There continues to be a lower supply of land offered to the market, helping to hold values despite lower net farm incomes vs recent years. Local farmer buyers continue to be the most active in the market as investor interest is slowing.
"The recent survey reflects the leveling of the land market we experienced in the last year due to the higher interest environment and lower commodity price trends" said Eric Schlutz, ALC, Realtor, and manager of the Ruhl&Ruhl Realtors Muscatine Office.
"Farmland values have taken a pause in the upward growth that we experienced over the past several years. In our area of Eastern Iowa and Western Illinois the market is best described as being stable with demand for land still considered to be good especially for top quality, highly tillable parcels. However, in general the supply of available land for sale is very low and transactions are less than a year ago, thereby giving some support to values. It isn't surprising that growth in farmland values have slowed given the increased interest rates and lower current prices for commodities experienced this past several months. This will be an interesting marketing year for land as we see if land for sale remains tight and if buyer demand remains good based on what interest rates do and what farm incomes will be further into this year" said Dennis Stolk, ALC, Farm and Land Specialist with Ruhl Farm&Land.
For the survey, participants are asked to estimate the average value of farmland as of March 1, 2024. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information.
Ruhl Farm&Land, a division of Ruhl&Ruhl Realtors, is focused on the sale, purchase and marketing of land, farms and acreages.
Iowa |
High-Quality Crop Land |
Medium-Quality Crop Land |
Low-Quality Crop Land |
% Change in Tillable Cropland |
Non-Tillable Pasture |
Timber Per Acre |
| East Central | 15,355/acre | 12,403/acre | 8,437/acre | -3.0% | 4,877/acre | 4,545/acre |
| Northeast | 15,224 | 11,864 | 8,422 | -4.8% | 4,859 | 4,930 |
| Southeast | 14,524 | 10,293 | 6,893 | -2.2% | 4,588 | 4,183 |
1
Navigating The Market for Prospective Homebuyers
If you've been considering purchasing a home, your main concerns are probably mortgage rates and home prices. This might even be the reason you've suddenly delayed your plans. Some buyers discovered that the numbers simply didn't make sense for their budget when rates increased last year. However, there might be some good news for you!
Economic Data Manager at Realtor.com, Sabrina Speianu, says "The spring housing market could shape up to provide home shoppers with a more plentiful supply of less expensive homes than last year," and although inventory is still not as plentiful as in the pre-pandemic days, "home shoppers will have more choice, and in particular more choice of lower-priced homes."
The number of homes actively for sale in February was up 14.8% from February of 2023, and more inventory means more choices for buyers!
Home Prices Will Remain Steady
29
Advantages of Listing Your Home with Ruhl&Ruhl Realtors
When listing your property with Ruhl&Ruhl Realtors, you partner with a trusted local real estate advisor. Our Realtors are equipped with the best support, knowledge, resources, and tools to guide you through this major life change. Most importantly, they care about you like you are part of their family. Using your personal goals as a guide, they will move you from the life you have to the life of your dreams. You can expect a basic level of service from any company. However, at Ruhl&Ruhl Realtors, we believe you deserve much more, including extraordinary customer service, the most effective marketing tactics, the knowledge of over 160 years of time-tested strategies, and the resources of the largest independently owned brokerage in Iowa.
Every property is unique, and no house has a fixed price. Given that there is a range of value for your property, here are five things we do that put your home in the best possible position to sell and ensure you receive top dollar.
21
March Small Businesses of the Month
Small businesses are the heart of our communities! Here at Ruhl&Ruhl, we love to support locals and engage with the areas we serve in any way we can. So, let's help them out and spread the word about their great services!
Below are this month's featured businesses in all of our areas:
Bettendorf/Davenport: Twin Span Brewing has been consistently voted one of the Quad Cities favorite gluten free spots. Their expertly designed menu has something for everyone and changes seasonally—it is sure to get your mouth watering! They also have a Certified Cicerone® head brewer who has crafted a wide range of ales and lagers in classic styles and new experiments. Join their fan group to get a behind-the-scenes look at their brewhouse, pitch and vote on future reci...
1
Happy 40th Anniversary Roni!
Throughout her 40 years at Ruhl&Ruhl Realtors, Roni Pianca has been a leader, a mentor, an inspiration, a shoulder to cry on, a laugh when you need it most, and one of the most important members of the Ruhl Family.
Roni began her journey with Ruhl by missing her initial job interview because she couldn't find the office. Her adventures continued when her water broke during the awards celebration in 1987. She had a daughter, Rachel, who now works in the Bettendorf Office, and later, another daughter, Chelsey, who is becoming a licensed agent at the Davenport Office.
Considering Roni started in the days before Google and Internet, it's easy to see why she still trusts her zip code book and paper maps. She also keeps a notebook of all of her recorded time off since the day she started!
Roni currently serves as the Vice President, Relocation & Business D...
