SALES COMPARISON APPROACH, INCOME APPROACH, AND COST APPROACH

When ordering an appraisal from Iowa Land Company you can expect a certified rural appraisal that meets the Uniform Standards of Professional Appraisal Practice (USPAP) standards and meets your completion date requirement. A market value appraisal provides the value of a farm property on a given date.  Three approaches to value are used within the appraisal to assure the client of a highly objective value.

• Income Capitalization Approach  provides a value based on expected reasonable income and expenses, with net income divided by a capitalization rate derived from market data.
• Sales Comparison Approach is a head to head comparisons of nearby sales
• Cost Allocation Approach is an allocation of value for each land type based on values of similar land types of nearby sales.

CURRENT CENTRAL IOWA LAND VALUES UPDATE

Below are some brief farmland auction highlights data per county in 2023 and 2024 along with the counties current land value price according to the latest Iowa State University Survey   

HARDIN COUNTY FARMLAND APPRAISER

(Appraising farmland near – Ackley, Eldora, New Providence, Steamboat Rock, Alden, Hubbard, Owasa, Union, Buckeye, Iowa Falls, Radcliffe, Whitten)

There were 11 land auctions in Hardin County in 2023. The average price farm sold for $12,500 / acre or $157 per CSR2 point. The highest priced farm in Hardin County that sold on auction in 2023 was sold a few miles south of Union, Iowa. The farm was 96 acres and it offered a 90.4 CSR2.The farm sold for $15,100 / acre or $172.00 per CSR2 point. For the entire list of Hardin County land auction results go to our Hardin County land page by clicking on the link below or call Hardin County, Farmland Appraiser and Land Broker Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN HARDIN COUNTY HERE

STORY COUNTY FARMLAND APPRAISER

(Appraising farmland near – Ames, Huxley, Roland, Cambridge, Kelley, Sheldahl, Collins, Maxwell, Slater, Colo, McCallsburg, Story City, Gilbert, Nevada, Zearing)

There were 15 land auctions in Story County in 2023. The average price farm sold for $15,933 / acre or $192 per CSR2 point. The highest priced farm that sold on auction in Story County in 2023 was sold 3.5 miles southeast of Rolland, Iowa. The farm was 87 acres and it offered a 88 CSR2.The farm sold for $18,800 / acre or $214 per CSR2 point. For the entire list of Story County land auction results go to our Story County land page by clicking on the link below or call Story County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN STORY COUNTY HERE

POLK COUNTY FARMLAND APPRAISER

(Appraising farmland near – Alleman, Clive, Johnston, Runnells, Altoona, Des Moines, Mitchellville, Sheldahl, Ankeny, Elkhart, Norwalk, Urbandale, Bondurant, Granger, Pleasant Hill, West Des Moines, Carlisle, Grimes, Polk City, Windsor Heights)

There were 8 land auctions in Polk County in 2023. The average price farm sold for $12,790 / acre or $171 per CSR2 point. The highest priced farm that sold on auction in Polk County in 2023 was sold 1.5 miles east of Elkhart, Iowa. The farm was 31.21 acres and it offered a 87.9 CSR2.The farm sold for $24,050 / acre or $285 per CSR2 point. The highest price agriculture sale in 2023 was 134.02 acres. The farm sold for $11,700 / acre and it had a 78 CSR2. For the entire list of Polk County land auction results go to our Polk County land page by clicking on the link below or call Polk County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN POLK COUNTY HERE

GRUNDY COUNTY FARMLAND APPRAISER

(Appraising farmland near – Beaman, Grundy Center, Morrison, Stout, Conrad, Holland, Reinbeck, Wellsburg, Dike)

There were 12 land auctions in Grundy County in 2023. The average price farm sold for $17,940 / acre or $204 per CSR2 point. The highest priced farm that sold on auction in Grundy County in 2023 was sold just south of Stout, Iowa. The farm was 148.51 acres and it offered a 92.2 CSR2.The farm sold for $21,600 / acre or $234 per CSR2 point. For the entire list of Grundy County land auction results go to our Grundy County land page by clicking on the link below or call Grundy County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN GRUNDY COUNTY HERE

MARSHALL COUNTY FARMLAND APPRAISER

(Appraising farmland near – Albion, Haverhill, Liscomb, Rhodes, Clemons, Ferguson, Gilman, State Center, St. Anthony, Marshalltown, Laurel, LeGrand, Melbourne)

There were 21 land auctions in Marshall County in 2023. The highest priced farm that sold in 2023 was on October 31 the farm was located about 1 mile east of Liscomb. The farm was 76.7 acres and it offered a 94.4 CSR2. The farm sold for $21,300 / acre or $238 per CSR2 point. For the entire list of Marshall County land auction results go to our Marshall County information land page by clicking on the link below or call Marshall County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN MARSHALL COUNTY HERE

TAMA COUNTY FARMLAND APPRAISER

(Appraising farmland near –  Chelsea, Garwin, Lincoln, Toledo, Clutier, Gladbrook, Montour, Traer, Dysart, LeGrand, Tama, Vining, Elberon)

There were 16 land auctions in Tama County in 2023. The average price farm sold for $13,258 / acre or $170 per CSR2 point. The highest priced farm that sold on auction in Tama County in 2023 was sold southwest of Dysart, Iowa. The farm was 73.43 acres and it offered a 90.9 CSR2.The farm sold for $21,000 / acre or $236 per CSR2 point. For the entire list of Tama County land auction results go to our Tama County land page by clicking on the link below or call Tama County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN TAMA COUNTY HERE

POWESHIEK COUNTY FARMLAND APPRAISER

(Appraising farmland near – Barnes City, Ewart, Hartwick, Montezuma, Brooklyn, Grinnel, Malcom, Searsboro, Deep River, Gusey, Victor)

There were 3 land auctions in Poweshiek County in 2023. The average price farm sold for $14,466 / acre or $191 per CSR2 point. The highest priced farm that sold on auction in Poweshiek County in 2023 was sold south of Victor, Iowa just north of interstate 80. The farm was 80 acres and it offered a 91.3 CSR2. The farm sold for $20,500 / acre or $228 per CSR2 point. For the entire list of Poweshiek County land auction results go to our Poweshiek County land page by clicking on the link below or call Poweshiek County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS  IN POWESHIEK COUNTY HERE

FREE BROKER’S OPINION OF VALUE

Sometimes a certified appraisal isn’t always needed in order for all folks looking to determine their property value. If you are interested in knowing what your Iowa property is worth, we offer a free broker’s opinion of value. Contact us today to get the process started.