Recently we have added two new team members to help assist with our country home and acreage sales.  My wife, Maria White, and her sister, Gina Davis, have both come on board, currently acting as both sellers agents on small tracts, and as buyers agents for those looking for existing country homes.  As country home and small acreage landowners themselves, they understand what buyers are looking for in an "outside-of-town" purchase.  Both Gina and Maria have several small tracts that will be coming available in the coming months on our site.  They can also assist you in sifting through the marketplace with properties that are already listed with other companies, as well to represent your best interests in finding and purchasing your dream home.  If you're interested in finding the right country acreage for you from someone that truly specializes and knows the country markets, contact Maria at 319-217-1075 or Gina at 319-931-5725.  Both are licensed in Iowa.

The other category of land that seems to have strong buyer interest, is properly positioned large tracts over 400 acres.  We have recently put together several very large deals here in Southern Iowa and are in the process of selling a large tract in West Central Missouri.  These tracts have taken investor interests on two fronts.  One, is the desire for a quality property from a wildlife perspective.  Two, is from the investment perspective.  Several landowners are now in a positions where they are ready to make a move to a different type of investment and step aside from farming.  Others seem to be stressed from financial burdens outside of the Midwest.

In any case, large tracts have been moving when midsize tracts seem to have slowed down.  Perhaps it's because most of the midsize tracts were being bought and sold previously based on speculation.  Perhaps it's because the construction trade in major cities have had the brakes put on them by tightening lending laws and job losses.  One thing is very evident, many speculators over the past few years who have been playing the "land trading" game and have gotten hammered by those tightening lending practices.  With banks now generally requiring more than 30% down for fixed rate loans and 20% down for variable ARM's, there simply aren't as many "land traders" or "flippers" in the market.  And, that is clearly what we see putting the squeeze on small property sales.  

So what's the bright side to the medium-sized tract slump?  Big opporunity for those in the position to invest!!  Today I received a call from a buyer who attended a public auction by another real estate company in Monroe County, Iowa.  He was asking for directions to one of our listings in that area, the Monroe County Droptine Dream.  He had just left the auction, which looked like a respectable hunting farm from the aerial.  He told me that it only brought a single bid of $750 per acre.  After the sellers refused the bid, he brought it up to $900 per acre.  The sellers still refused and apparently "No Sale-ed" the property.  The rumor in the crowd was apparently that the property could have been bought for $1500 per acre, which probably would have been an incredible price.  But the buyer that told me about the auction, didn't stick around to see the final outcome for sure.

Although I have yet to verify that was the case, the fact that the buyer called me to look at a property listed just down the road at $2450 an acre was intriguing.  He obviously knew that an auction price such as that meant one of two things.  One, the number of buyers that day at the auction was virtually non-existent and he may be able to get a real bargain on another tract that he really wanted.  Or two, he thought the quality of the attempted auction tract was low compared to that of our listing, simply because of the positioning price.  In either case, he's one of many buyers that are out there looking for the right piece in a time of plenty of options.   

Sure, there certainly are some distressed sellers out there, but who they are will remain a mystery to buyers until they put an offer in.  Historically, most of our sales have occured within $100 to $200 per acre of the asking price.  However, for those looking for some great buys, all they may need to do is ask.  We have several sellers who are selling for a variety of reasons and not all sellers have to sell at a mark that's well below the asking price, but the moral of the story for the medium sized tracts is you don't know until you ask!  So if you see a parcel that you'd like to have and think it's unobtainable, think of the auction story above.  At $1500 per acre, it would have been a heck of a deal from an apparisal perspective, but no one was willing to pull the trigger, and several may have walked away from a deal that was as good as it's gonna get. 

Sales are increasing on the opposite ends of the spectrum.  It's my gut feeling that, at least in the short term, acceptable prices may not get any lower for some years to come.  As the year has been progressing, we are burning our way back into higher sales volumes on those medium sized tracts week by week.  If you're in the market and the right position, don't wait too long.  Or, you may find yourself one of the ones saying,"I wish I would have bought it back when..."!

Below is just a snapshot of this month's listing and sales activities in the marketplace at www.LandAndGame.com...

Sale Pendings

Van Buren County Iowa Build and Hunt
Clark County Missouri Battle of Athens
Cooper County Missouri Sportsman's Corner

New Listings

Appanoose County Iowa Lake Sundown Sanctuary East
Appanoose County Iowa Lake Sundown Sanctuary West
Van Buren County Iowa Wet And Wild
Van Buren County Iowa Tall Tines and Timber Tract

Solds

Henry County Iowa Open Meadows
Lee County Iowa Booner Bluffs
Lee County Iowa Backwoods Timber Tract