CLARION, Ia. (Dec. 21, 2011) -- With media nationwide reporting Iowa farmland sales of $18,000 and even $20,000 per acre, land broker John Kirkpatrick believes people are getting the idea that it's too late to get a good deal on a farm. But actually, good farmland is still available for less than half that.

"Right now, you can find productive Iowa farmland for far less than the prices that have been making the headlines, but investors are getting spooked by the very highest prices they're hearing," said Kirkpatrick, who has sold farmland for more than 23 years and heads up the Clarion office's operations for Murray Wise Associates.

"The irony is that the attention given to the outliers on the top end of the market can cause investors to hesitate, reducing an important source of demand. And that could slow the growth in farmland prices in the near term. In fact, we're already seeing that happen as some investors grow hesitant," said Kirkpatrick,

The truth is that farmland values in the state averaged $6,708 per acre in an annual study released Dec. 14 by Iowa State University.  "To be sure, that's a record high when adjusted for inflation, but it's a far cry from the extreme prices that many people are focused on," said Kirkpatrick. "Right now, if you look beyond the hottest counties in the northwest part of the state, you can find quality land for less than $9,000."

Local farmers and investors continue to be strong buyers, both in auctions and in private treaty sales, according to Kirkpatrick. "While we are better known for our auctions, we also put a lot of emphasis on private treaty sales, especially for farmers who wish to sell to and investor, then lease the land back and continue to work it," he said.

Individuals seeking additional information may contact Kirkpatrick at 515-532-2878.

About Murray Wise Associates LLC
Murray Wise Associates LLC, headquartered in Champaign, Illinois, with additional offices in Florida and Iowa, is a leading national agricultural real estate marketing and auction company. The company also manages farmland assets for individual clients in Iowa, Idaho, Kansas, Kentucky, Missouri, Minnesota, Nebraska, North Dakota, Oklahoma, South Dakota and Wisconsin.