Do the Math, do not allow emotions to push you into a deal that you can not afford. If you are lucky and the Neighbor is wanting to see the farm continue to be farmed and sell it at a reasonable price, buy it. If they choose to get greedy and get every penny they can, let it go. Not worth going bankrupt and loosing everything. I am on the side of farm land prices are at or very near the top at this point. I see them dropping substantially in the next couple years due to interest rate increases and continued crop prices in the cellar. I have seen several cycles since buying the farm in 1989. I could make a huge profit if I sold now. We got lucky bought when land was cheap, and interest rates were high, it was tough, but was well worth it. Re financed when rates dropped. I am sure I will see the value drop again, but likely never to what we paid for it. Just make sure whatever you do is sensible.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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