Land is priced mostly by purchaser's who have a high degree of equity and cash flow to overpay for smaller parcels of ground and have the mindset to play "keep away" which means pay more than what could be afforded based on production returns. It's nearly impossible to compete with that unless your non-farm income is pretty elite. It's very hard to come up by the bootstraps so to speak anymore. I heard of one example of keep away a few years ago where a farm family literally figured the year's profits from operations plus government payments then offered the sum as a bid on approximately 100 acres. They never looked at the proposition from any other vantage point such as expected economic return. The name of the game was bid the ground away from the other guy(s). These people farmed 5-6000 acres so it was a very large sum of money.
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Today's Featured Article - Good As New - by Bill Goodwin. In the summer of 1995, my father, Russ Goodwin, and I acquired the 1945 Farmall B that my grandfather used as an overseer on a farm in Waynesboro, Georgia. After my grandfather’s death in 1955, J.P. Rollins, son of the landowner, used the tractor. In the winter 1985, while in his possession the engine block cracked and was unrepairable. He had told my father
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