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 NORTH 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   

WORTH COUNTY FARMLAND APPRAISER

(Appraising farmland near – Fertile, Grafton, Hanlontown, Joice, Kensett, Manly, Northwood)

There were no land auctions in Worth County in 2023. However there were several farms that sold publicly through the traditional real estate listing method of sale, if you would like to learn more about those offerings contact Worth County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS IN WORTH COUNTY HERE

MITCHELL COUNTY FARMLAND APPRAISER

(Appraising farmland near –  Carpenter, Mclntire, Mitchell, Orchard, Osage, St. Ansgar, Stacyville)

There were 9 land auctions in Mitchell County in 2023. The average price farm sold for $11,408 / acre or $166 per CSR2 point. The highest priced farm that sold at auction in Mitchell County in 2023 was sold on December 15. The farm offered 232 acres, 226.33 of which were tillable, with a 88.5 CSR2 rating. The property sold for $15,200 an acre. The farm was located 1 mile east of Orchard, Iowa. For the entire list of Mitchell County land auction results go to our Mitchell County land page by clicking on the graph below or call Mitchell County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS IN MITCHELL COUNTY HERE

CERRO GORDO COUNTY FARMLAND APPRAISER

(Appraising farmland near – Clear Lake, Meservey, Rock Falls, Thoton, Dougherty, Nora Springs, Rockwell, Ventura, Mason City, Plymouth, Swaledale)

There were 5 land auctions in Cerro Gordo County in 2023. The average price farm sold for $13,967/ acre or $171 per CSR2 point. The highest priced farm that sold at auction in Cerro Gordo County in 2023 was sold on August 3. The farm was located two miles north of Dougherty Iowa and offered 120.95  acres, 115.98 of which were tillable with a 83.8 CSR2 rating. The farm sold for $15,900 an acre. For the entire list of Cerro Gordo County land auction results go to our Cerro Gordo County land page by clicking on the graph below or call Cerro Gordo County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS IN CERRO GORDO COUNTY HERE

FRANKLIN COUNTY FARMLAND APPRAISER

(Appraising farmland near – Ackley, Dows, Hansell, Popejoy, Alexander, Geneva, Latimer, Sheffield, Hampton, Coulter)

There were 17 land auctions in Franklin County in 2023. The average price farm sold for $11,472  / acre or $207 per CSR2 point. The highest priced farm that sold at auction in Franklin County in 2023 was sold on September 29. The farm offered 77 acres and 74.79 acres of which were tillable with a 74.79 CSR2 rating. The farm was located a couple of miles southeast of Coulter, Iowa. The farm sold for $15,700 / acre or $188 per CSR2 point. For the entire list of Franklin County land auction results go to our Franklin County land page by clicking on the graph below or call Franklin County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS IN FRANKLIN COUNTY HERE

FLOYD COUNTY FARMLAND APPRAISER

(Appraising farmland near – Charles City, Floyd, Nora Springs, Rudd, Colwell, Marble Rock, Rockford, Nashua)

There was just 6 land auctions in Floyd County in 2023. The average price farm sold for $12,216  / acre or $156 per CSR2 point. The highest priced farm that sold at auction in Floyd County in 2023 was sold on August 9. The farm was located a few miles southwest of Rockford, Iowa.  The farm offered 150 acres and 144.3 acres of which were tillable with a 85.2 CSR2 rating..The farm sold for $13,850 / acre or $169 per CSR2 point. For the entire list of Floyd County land auction results go to our Floyd County land page by clicking on the graph below or call Floyd County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS IN FLOYD COUNTY HERE

BUTLER COUNTY FARMLAND APPRAISER

(Appraising farmland near –  Allison, Bristow, Greene, Parkersburg, Aplington, Clarksville, New Hartford, Shell Rock, Aredale, Dumont)

There were 8 land auctions in Butler County in 2023. The average price farm sold for $11,975 / acre or $151 per CSR2 point. The highest priced farm that sold at auction in Butler County in 2023 was sold on December 1. The property was located 2.5 miles east of Allison, Iowa on the south side of Hwy 3. The farm was 77.81 acres and it offered a 86 CSR2.The farm sold for $21,000 / acre. The farm was 100% tillable For the entire list of Butler County land auction results go to our Butler County land page by clicking on the graph below or call Butler County, Farmland Appraiser and Land Brokers Cody Skinner or Nick Skinner.

VIEW MORE LAND AUCTION RESULTS IN BUTLER 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.