My family's company, Faulkner Real Estate, is celebrating another record breaking year of residential and agricultural sales in Western Kansas and Eastern Colorado. We ended the year with just over 160 land, home and commercial real estate transactions on the book in over 9 counties in Kansas and Colorado. After the record setting pace of land sales, mostly production farm ground, over the last 2 years the US economy hit the wall. Many spoke of depression and the economic outlook was bleak. However, in the mighty midwest conservative values and good business principles kept us, while not untouched, less affected by the economic downturn.
Land sales values this year came closer to level compared to years past, but still turned in stronger numbers than the previous year. Faulkner Real Estate's 13 REALTORS sold nearly 13,000 acres of land and minerals in 9 counties in Kansas and Colorado and for 33 Sellers! We specialize in small to medium tract of 160 to 2,000+ acres and benefit greatly from our founder's sales method the "private auction" developed by my father Mark Faulkner. The Private Auction is a sales method combining the control of a traditional private treaty sale with the benefits of speed and unlimited sales potential of an auction. We sell 90% of our land by private auction and get it sold in under 90 days.
Many farmers have mentioned their concern about the effect of thousands of acres of land coming out of the Conservation Reserve Program, more commonly referred to as CRP. While there has been an increased supply of CRP land, we have not seen a decrease in sales price. Many farmers see this as an unprecedented opportunity to increase their land holdings as large families seek to simplify their holdings and transfer them to other investments. CRP continues to sell well in Western Kansas and Eastern Colorado.
What are farmers buying in Western Kansas? Are farmers still buying irrigated farm ground or are they seeking to simplify with dryland ground. The mix has remained fairly similar to years past. One thing that we are experiencing is rapid appreciation of the best land either dryland or irrigated ground with very good water. While the aquifer may be slowly depleting the best irrigated ground is still brining very good prices; and is a great bargain compared to many states in the midwest.
Southwest Kansas land and real estate sales remain strong as we begin 2010. Faulkner Real Estate is currently marketing over 4,000 acres of land and farm ground for 5 Sellers in western Kansas and the Oklahoma panhandle, with much more in the works. We continue to be successful thanks to our average marketing time of approximately 75 days, while obtaining above market value sales figures on most properties. My father, Mark Faulkner, has definitely carved his niche in Western Kansas Land sales with his private auction. The hardest thing for me as our marketing manager is staying on top of each new sale and getting word out to the public about this proven sales method we have developed over the last 11 years. We're not 11 year young though; we've been serving Buyers and Sellers in Western Kansas, Eastern Colorado and the Oklahoma panhandle for over 24 years.
Faulkner Real Estate in Ulysses, Kansas is also staying on top of the Real Estate market in Western Kansas through our partnerships. We have partnered with both LandWatch.com and LandsofAmerica.com for the best online exposure. In addition, we will be introducing our new website this month including complete MLS IDX integration. Now Buyers and Sellers will be able to view all of southwest Kansas' real estate listings via one source www.faulknerrealestate.com. In addition all of our auctions benefit from weekly exposure in the High Plains Journal and area publications like the Tri-State Exchange, The Ulysses News and Vendor, The Hugoton Hermes, etc.
Farmers in Western Kansas and Eastern Colorado are benefiting from their sound business practices and conservative values. I can honestly say it is a pleasure to go to work for them each day.