Peoples Perspective

Land Auction Results - December 2023

 January 4, 2024
 Land Auctions   Land Values   Industry Insights 

The appraisal team at Peoples Company was able to track 94 tracts or 9,929.61 acres sold at public auction in Iowa during December 2023. The average dollar per acre was $12,104, the average dollar per tillable acre was $14,085, and the average dollar per CSR2 was $180.


Good Farming Practices (GFP) and Crop Insurance

 January 2, 2024
 Crop Insurance 

What are good farming practices and why are they important? The Federal crop insurance program covers losses that are unavoidable and due to naturally occurring events. The program does not cover losses due to negligence, or any failure to follow good farming practices.


The Corporate Transparency Act

 December 29, 2023
 News & Events   Industry Insights 

Beginning January 1, 2024, the Corporate Transparency Act (“CTA”) will officially go into effect, which requires additional reporting obligations on U.S. entities and foreign entities doing business in the United States to provide beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). Congress established that the general intent of the CTA is to prevent illicit activities, including money laundering, financing terrorism, tax fraud, and other harmful activities related to national security interests, from occurring through the use of entity schemes. The CTA applies to any corporation, limited liability company, or other similar entity (limited partnership; limited liability partnership; limited liability limited partnership) that files an application (e.g., Certificate of Organization/Incorporation filed with the Secretary of State) under the laws of a State or Indian tribe, subject to certain exemptions. As a result, the CTA will impose the reporting burden on many farmers, landowners, and other industry professionals.


Commercial Real Estate vs. Farmland

 December 27, 2023
 Land Values   Industry Insights 

After reading yet another negative headline on the $20 trillion commercial real estate (CRE) market, I was reminded of the investment characteristic I once assumed the CRE market shared with the $4 trillion farmland market.


Have Your Cake and Eat It Too: Iowa's Beginning Farmer Tax Credit

 December 21, 2023
 Land Management 

You don’t have to look far to find headlines highlighting the high entry costs of farming. For each of those headlines, another one can be found pointing to the issues of the aging American farmer and a “sidelined” next generation waiting for their opportunity to step in. A 65-year-old farmer has faced a lot of challenges in their lifetime from weather volatility and the 1980s farm crisis to the more recently rising cost of capital. There’s no question that they have earned their spot at the head of the operation.


Peoples Company Continues National Expansion with Hires in Southeast and Southern Plains

 December 19, 2023
 News & Events   Land Management 

Peoples Company, a full-service land transaction and management business, today announced the hires of Thiago Lima and Tommy Funk, continuing the company’s national expansion. Lima will oversee Peoples Company’s farm management in Florida, Georgia and Alabama and work alongside Peoples Company’s brokerage team. Funk will focus on Texas and Oklahoma, with an emphasis on land management and land acquisition.


Midwest Drought Conditions Post-Harvest

 December 18, 2023
 Land Management 

It’s easy to fall into the mindset that our concerns regarding the lack of rainfall are past us once the crop is out of the ground. A drought naturally puts crop production at risk, but dry conditions post-harvest also have long-term impacts on farming operations.


Choosing a Certified General Appraiser or a Realtor for Your Property Appraisal: Which One is Right for You?

 December 7, 2023
 Land Values   Real Estate 

When it comes to determining the value of your property, whether for buying, selling, refinancing, or other purposes, it's crucial to rely on the expertise of a qualified professional. Two common choices for property appraisal are certified appraisers and real estate agents or brokers. While both can provide valuable insights, there are key differences between the two.


Land Auction Results - November 2023

 December 4, 2023
 Land Auctions   Land Values   Industry Insights 

The appraisal team at Peoples Company was able to track 255 tracts or 23,230 acres sold at public auction in Iowa during November 2023. The average dollar per acre was $12,018, the average dollar per tillable acre was $14,124, and the average dollar per CSR2 was $181.


Weekly Auction Results: 11/12/23-11/18/23

 November 20, 2023
 Land Auctions   Land Values 

As harvest across the Midwest is wrapping up, the seasonal auction sales are officially in full swing. In Iowa, our appraisal team was able to track over 7,800 acres sold in 89 tracts. The average dollar per acre was $13,043, average dollar per tillable acre was $14,423 with an average dollar per CSR2 point of $178. This is down 2% from the Q3 average. Illinois had a rally, too, with 1,830 acres selling in 24 tracts at an average dollar per acre of $15,281.