Newman, Thompson, and Gray

Newman, Thompson, and Gray Law Firm. A general practice firm serving the Forest City area since 1997.

Ask us how Estate Planning can save your family time and money.

Newman, Thomspon, and Gray can assist you will all your estate planning needs.

Farmland Auctions

Mark Newman has over 25 years of experience as an auctioneer. He graduated from the World Wide College of Auctioneering in 1988 and is a member of the Iowa Auctioneer's Association.

Newman, Thompson, and Gray

Serving Forest City and the surrounding community since 1997.

Newman, Thompson and Gray

Serving the North Central Iowa community since 1997.

Farms sold - Successful September Sales in Northern Iowa and Southern Minnesota

We had a great month of farmland sales.  The Faber, Wood, Rockow, and Hodson farms all sold and brought in a good crowd and great bids.

The north Faber farm sold for $8,600 per acre, plus buyer will pay an additional $2,500 to close in 2014.  The Rockow farm also brought in a good price at $8,600 per acre while the Wood farm in Southern Minnesota brought $6,400 per acre.






Faber Farm Sold!


The Faber farms sold on July 9, 2013 at the American Legion Hall, Forest City.  The North parcel went for $8,100 per acre, and the South parcel for $7,750. 



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FARM DATA:
FABER TRUST
NORTH FARM

TOTAL TILLABLE ACRES:  78.01 Acres  M/L
Total Deeded acres:  Approx 80
GENERAL DESCRIPTION:   NE ¼ of SE ¼ and SE ¼ of NE ¼ §12, Forest Twp. Winnebago County Iowa.
Directions:  from Leland, Iowa, ½ Mile South, 1 Mile East, ½ Mile South
From Forest City, East on Hwy 9 to Vet Clinic corner, then North 3 ½ Miles, Farm is on the West side of Road. 
HISTORIC CSR: 58.3

General Lay of the Land:

The farm lays rolling to generally level; the configuration is excellent!    The North Farm is a perfect rectangle.  

None of the farm is in CRP, the  is HEL and none is certified wetland. 
The land is accessible on the South and on the East. 

The farm is located close to several Grain Buying Points and three major corn buyers, Rembrandt and Christiansen, chicken and hog facilities, respectively and the local elevators. 

Corn/Bean Base Acres:

Corn Base:  47.2
Bean Base:    29.3

Drainage:

This farm is in Drainage District 70, for the most part and is served by a nearby lateral which appears to come to the farm on the roadway on the Southeast area.  The high point of the District appears to run North and South along the middle of the farm, the West side of the farm appears to fall off pretty well to the West.   See Tile Map.

Private tiling has been done, we do not have a private tile map available.     There is enough slope in most of the farm to allow easy directional surface runoff and it is easy to calculate where to place or maintain tile to keep this farm dry (no problem last year!).  Iowa weather is one of averages.  It is never average.  We will have very dry years and very wet years. 

Soil Types and Amounts:

The land is predominantly Shorewood Silty Clay Loam (38%), Kilkenny clay loam (23.5%) and Minnetonka silty clay loam (23.3%)., This farm has been deemed by the FSA to be HEL.  The Shorewood is considered  prime type soil which is very desirable.  The farm is about an average farm.

Shorewood silty clay loam  1-3% grade  Soil 855

This is relatively level to gently sloping and generally poorly drained in the low, shallow depressions unless underlaid with drain tile.  It may be subject to ponding in wet years.  This soil classification  The surface area is generally black, silty clay loam and about 10 inches thick.  It has a thick subsurface area which is also black silty clay loam.  It is about 5 inches thick.  The subsoil is about 27 inches thick.  The upper part is dark grayish brown and the lower part is dark grayish brown.  The substratum to about 60 inches is grayish brown silty clay loam. 
This is well suited to corn, soybeans and small grains. Drainage is generally installed in most area to improve the timeliness of fieldwork.  Tile drains should be more closely spaced than those in soils that have less clay in the subsoil. 
This is Prime Farmland according to the USDA. 

Minnetonka Silty Clay Loam  CSR 63  Soil Type:  583

This is a level and generally poorly drained slowly permeable soil in areas which were glacial moraine areas of native trees and grasses.   This soil may be subject to ponding in low areas in wet years,   The surface area is generally good soils about 3-10 inches thick.  Though permeability is moderately slow the area can grow a good crop.  This soil is poorly adapted for alfalfa, but can grow a good row-crop such as corn or beans.

Kilkenny clay loam   836C2  5-9% slopes

This is steep and very steep, well drained soil on glacial end moraines.  The areas range from 3 – 10 acres and are irregularly shaped.  Typically, the surface layer is very dark gray and very dark grayish brown clay loam about 4 inches thick.  The subsurface layer is very dark grayish brown and dark grayish brown clay loam about 3 inches thick.  The subsoil is clay loam about 28 inches thick.  Permeability is moderately slow in the Kilkenny soil and runoff is very rapid.  Available water capacity is high, about 2 to 2.5 % .  Reaction is slightly acid or neutral in the surface soil and mildly alkaline in the substratum.  The subsoil generally has a low supply of available phosphorus and low supply of potassium.   This can be HEL soil.
Historic CSR  39

Configuration:

This farm is a perfect ‘rectangle’.  The farm has a county road right of way on the long side and that is about as good as it gets!  There are no point rows and no obstacles to keep you from getting in and getting out. 

Terms:  20% down in cash at auction.  The farm is rented to the Kingland brothers for the 2013 crop year.  The Buyer will get $150.00 times the 78.01 Acres  in cash rent.  The Buyer will get that money in December, 2013. The tenancy is terminated for the next year, you can farm it in 2014.  The current tenant may approve early possession when crops are off the field. 

Taxes:  $1,750 per year.  Farm Real Estate Taxes pro-rated to August 5, 2013—Buyer will receive $150.00 as rent income in December, 2013.   Buyer given a credit based on current taxes.  Seller will pay all taxes payable. 

Closing is set for August 5, 2013, but can be delayed for a short time upon approval by Seller, it is important to close before the end of November.  Have your finances in order.   Proxy bidding by prior approval, only.  No Buyer’s Premium. 

Abstract will be delivered at the auction to the Buyer’s attorney.  It will show marketable title in the Trust and Warranted to time of closing.

The farm is owned by a Trust.  A Trustee’s Warranty Deed will be given upon payment in full of the purchase price at closing.  

Summary:

This is a good farm which I consider to be “good” farmland.  On a scale of 1 -10 this would rate about an 7.5 compared to other Iowa farms. The farm would be considered desirable in today’s market and profitability atmosphere.

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FARM DATA:
FABER TRUST
 SOUTH FARM


TOTAL TILLABLE ACRES:  65.17 Acres  M/L
Total Deeded acres:  Approx 67
GENERAL DESCRIPTION:   N1/2 of NW1/4 §30, Mt. Valley Twp. Winnebago County Iowa EXCEPT acreage described at 002495 (7.67A) and EXCEPT Grove in SE art of farm and one acre directly East of Grove, to be surveyed, (approx 3.3Acres ML)
Directions:  From Forest City, East on Hwy 9 to Vet Clinic corner, then North 1 ½ Miles, Farm is on the East side of Road. 
HISTORIC CSR: 59.4

 General Lay of the Land:

The farm lays rolling to generally level; the configuration is good.    The farm lays generally East and West, with a rectangle acreage out of the center of the West side.  There will be the grove out of the farm on the SE corner and the north line of the grove will extend East to the roadway.  That will remove about one acre of tillable ground, but the history is this:  The acreage owner has rented his 3.4 acres of farm land  in front of his house to the land tenant and may also do the same with the other acre East of the Grove.  The survey is ordered and will be done, hopefully, at the time of the sale.  We will sell 65.17 acres and that will be the number times the money, regardless of the actual number of tilled acres.    See Calculation of Acres

None of the farm is in CRP, none  is HEL and none is certified wetland. 
The land is accessible on the West and on the East. 

The farm is located close to several Grain Buying Points and three major corn buyers, Rembrandt and Christiansen, chicken and hog facilities, respectively and the local elevators. 

Corn/Bean Base Acres:

Corn Base:  41.6
Bean Base:    27.4
HOWEVER,  this was based on the FSA data available at the time of printing.  The FSA was not aware that the acreage on the West was ‘squared off’ a number of years ago and was counting a bit of the acreage as this farm.  Also, there is one acre on the East of the grove (SE corner of farm) which is to be sold off with the grove to the acreage dweller.  This will remove one acre from this farm. 

Drainage:

This farm is in Drainage District 5, for the most part and is served by two nearby 8”laterals which appears to come to the farm from the roadway on the West side, one enters the farm just south of the driveway to the acreage, then proceeds East for a while and follows the low area draining off to the Southeast to the open ditch.  It looks like there maybe in intake on the ROW north of the driveway, too.  This does not appear on the County Tile map I have in this packet.   There was some washing with the recent heavy rains, but that is mostly on the acreage owner’s land.  The other begins in the area just West of the Grove (on SE part of farm) and joins the other lateral to form a 12” drain which goes to the ditch.     See Tile Map.

Private tiling has been done, we do not have a private tile map available.     There is enough slope in most of the farm to allow easy directional surface runoff and it is easy to calculate where to place or maintain tile to keep this farm dry (no problem last year!).  Iowa weather is one of averages.  It is never average.  We will have very dry years and very wet years.  

Soil Types and Amounts:

The land is predominantly Kilkenny clay loam (46%), Shorewood Silty Clay Loam (13.4%), and Minnetonka silty clay loam (13.3%)., This farm has been deemed by the FSA to be NHEL.  The Shorewood is considered  prime type soil which is very desirable.  The farm is about an average farm.

Shorewood silty clay loam  1-3% grade  Soil 855

This is relatively level to gently sloping and generally poorly drained in the low, shallow depressions unless underlaid with drain tile.  It may be subject to ponding in wet years.  This soil classification  The surface area is generally black, silty clay loam and about 10 inches thick.  It has a thick subsurface area which is also black silty clay loam.  It is about 5 inches thick.  The subsoil is about 27 inches thick.  The upper part is dark grayish brown and the lower part is dark grayish brown.  The substratum to about 60 inches is grayish brown silty clay loam. 
This is well suited to corn, soybeans and small grains. Drainage is generally installed in most area to improve the timeliness of fieldwork.  Tile drains should be more closely spaced than those in soils that have less clay in the subsoil. 
This is Prime Farmland according to the USDA. 

Minnetonka Silty Clay Loam  CSR 63  Soil Type:  583

This is a level and generally poorly drained slowly permeable soil in areas which were glacial moraine areas of native trees and grasses.   This soil may be subject to ponding in low areas in wet years,   The surface area is generally good soils about 3-10 inches thick.  Though permeability is moderately slow the area can grow a good crop.  This soil is poorly adapted for alfalfa, but can grow a good row-crop such as corn or beans.

Kilkenny clay loam   836C2  5-9% slopes

This is steep and very steep, well drained soil on glacial end moraines.  The areas range from 3 – 10 acres and are irregularly shaped.  Typically, the surface layer is very dark gray and very dark grayish brown clay loam about 4 inches thick.  The subsurface layer is very dark grayish brown and dark grayish brown clay loam about 3 inches thick.  The subsoil is clay loam about 28 inches thick.  Permeability is moderately slow in the Kilkenny soil and runoff is very rapid.  Available water capacity is high, about 2 to 2.5 % .  Reaction is slightly acid or neutral in the surface soil and mildly alkaline in the substratum.  The subsoil generally has a low supply of available phosphorus and low supply of potassium.   Historic CSR  39

Configuration:

This farm has a good layout with the acreage “squared up”.  There is opportunity to be the only viable renter on about 31/3 acres near the front (West side) of the Acreage and the acre to the East of the Grove on the far side of the farm  The farm has a county road right of way on BOTH ends, and that is about as good as it gets for access!  The only diagonal rows are the few rows which are on the West border of the Grove.  The grove tree line is not ‘squared up’ because the slant follows the low area of the farm so it remains available for your manifold pipe in the event you want to improve drainage with pattern tile.  There are very few point rows and few obstacles to keep you from getting in and getting out. 

Terms:  20% down in cash at auction.  The farm is rented to the Ron Redenius for the 2013 crop year.  The Buyer will get $150.00 times the 65.17 Acres  in cash rent.  The Buyer will get that money in December, 2013. The tenancy is terminated for the next year, you can farm it in 2014.  The current tenant may approve early possession when crops are off the field. 

Taxes:  $1,506 per year.  Farm Real Estate Taxes pro-rated to August 5, 2013—Buyer will receive $9,775.50 as rent income in December, 2013.   Buyer given a credit based on current taxes.  Seller will pay all taxes payable. 

Closing is set for August 5, 2013, but can be delayed for a short time upon approval by Seller, it is important to close before the end of November.  Have your finances in order.   Proxy bidding by prior approval, only.  No Buyer’s Premium. 

Abstract will be delivered at the auction to the Buyer’s attorney.  It will show marketable title in the Trust and Warranted to time of closing.

The farm is owned by a Trust.  A Trustee’s Warranty Deed will be given upon payment in full of the purchase price at closing.  

Summary:

This is a good farm which I consider to be “good” farmland.  On a scale of 1 -10 this would rate about a 7 3/4 compared to other Iowa farms. The farm would be considered desirable in today’s market and profitability atmosphere.

All announcements made on sale day take precedence, all data taken from sources believed to be reliable, the FSA office and NRCS data, the Drainage Record Books and the Assessor’s office and Treasurer’s records are open for inspection.  This Sales Data Packet is not intended to be a Guarantee, nor is it a substitute for the Buyer’s own careful inspection.  

Farmer's Cooperative Company Land SOLD!


CO-OP Sale Brings in Good Crowd and Great Prices.

Mark A. Newman sold a 40-acre parcel on April 30,2013 at the Branding Iron in Thompson to a great crowd.  This farm was located in North Central Iowa, near Rake.  

The farmland was purchased for $11,700/acre.  The high bidder was a neighboring farmer who narrowly edged out a land investor. 





AHNEMANN FARM SOLD!


The Ahnemann Farm sold on March 12, 2013 at the Branding Iron in Thompson.  The farm sold for a total of $11,900 per acre, the buyer taking both parcels.  The farm was purchased by the son of a neighboring farm owner.  The other 5 top bidders were landowners living within 5 miles of the farm.  Both the buyers and the sellers were pleased with the sale.

If you are considering a land sale, feel free to contact Mark at 641-585-5043 to discuss how we can help you!