FARMLAND 450 Acres North Dakota Hunting Land Productive Steele County Rental Investment Start Price - Current Price - Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Wednesday, August 13, 2008 End Time Friday, September 12, 2008 Location Finley, ND See more about 'FARMLAND 450 Acres North Dakota Hunting Land' Description This is to inform you of a LAND AUCTION Sept 10, 2008       GET DETAILS, MORE PICS, AND MAPS MAILED TO YOU FOR $2.00 Land for Sale 450 Acres Steele Co. SOLD 9/10/08  Email for details.  Parcel (1) Golden Lake Township W ½ 7-147-55 EXCEPT 17.5 acre Farmstead 290+/- Legal acres, 268 tillable less (-) 21.5 CRP to 2017. Subject to 2008 crop lease. SOLD 9/10/08  Email for details. Parcel (2) Finley Township SE 1/4 12-147-56 160 Legal acres, 137 tillable less (-) 51.7 CRP to 2017, and less (-) 71.8 CRP to 2009. Gravel deposit and good hunting. For Details and Bidding contact the owners; JOEL and LINDA ANDERSON,13249 10th St NE, Finley ND 58230 Farm 701-524-1499, Cell 218-779-2403, E-mail jianderson@invisimax.com Submit written bids, per parcel, by WEDNESDAY, SEPTEMBER 10, 2008, 9:00 AM at which time SERIOUS individual bidders may raise their bids. The sale will be for pre approved Contract for Deed and/or CASH. Successful bidder shall be prepared to enter into an earnest money contract with 10% down payment as soon as possible. Balance due at closing within 30 days. Terms and conditions announced at auction at farm home will supersede all advertisement. We reserve the right to reject any bid. Top 3 bidders on each parcel, if not present, may participate by phone.            IMFORMATION       This land has been cash rented for 10 years, the last on a 3yr contract for $ 46 per crop-able acre, payment April 1 (last year 08). Crop prices are up 2 or 3 times what 3yrs ago was, and I hear rents are $55+ for crop-land. Some also rent for a share of the crop of about 30%. Wheat at $9 x 40 bushel per acre average is $108 with RISK and more IRS rules. Soybean about $12 x 29 bu.. Corn about 4.50 x 105 bu.. The CRP rent payment comes after Oct 1 for about $41 per enrolled acre. Parcel 1 receives $958 yearly to 2017 unless un-enrolled with penalty. Parcel 2 payments are $2876 in Oct 2009 and $2195 thru 2017. RE taxes on Parcel 1 were $1900 last year with 5% discount. RE taxes on Parcel 2 were $1001 with 5% discount for payment by Feb 1. Gravel Royalties on Parcel 2 have averaged about (guess) $4000 a year the last 20, with a range of $200 to $14000 (used on roads and for fill). Liability insurance is about $1.10 per acre.        My renter will be doing a fall tillage after his crops are removed. If updating abstracts and closing goes well, you might have possession after Oct 1. Real Estate Taxes for 2008 will be divided, 3/4 me, 1/4 buyer. I have scrap iron and old cars to move by Dec 1, 2008. The abstracts show all mineral rights with land. The land has been owned by father or I since 1938 and 1943. He built a new house in 48, big barn in 56, and other out buildings. I have added a 40' x 70' shop and 4 steel bins of 10,000+ bushels grain storage to the farmstead. It is good land and the only sandy subsoil is on the western 3/4 of SE 1/4 of section 12. Steel bins will be available to rent or to buy reasonably. Access to the north fields of "parcel 1" will be allowed thru the farmstead, as long as I own it. Improvement to road at south end of west CRP field may be needed, in the future, to access those fields. I expect you may remove trees that surround the farmstead, on your property, and crop it. The west farmstead border location puts a drainage ditch, that serves land to the north, on land being sold. I stopped operating the farm in 1999 when I found out heart bypass surgery was needed again. It had been 10 years since the first one, and many stents since that. I have been on disability since 2000, when I had a redo of the 1999 operation. I expect the Auction Sale Day will go something like this: Bidders that have or will submit "BIDS PER PARCEL" for parcel 1(one) or 2(two), will arrive after 8:00 A.M. (Coffee and treats).  Questions or quick tours. 9:00 A.M. Bids will be opened and sorted in kitchen. Those bidders with bids on parcel 2 only, or to low for serious consideration, will be asked to raise their bid or leave the parcel 1 oral bidding, to the deck or garage to wait.  If any of top 3(three) bidders on a parcel are not present, and want to participate in oral bidding, we will call them on a speaker phone. Oral bidding will be held on parcel 1, for about five minutes, and take a short break. Back to bidding till settled. Bidders on parcel 2 will be seated and parcel 1 only bidders can take a break on deck or in the garage. If any of the top three bidders are absent, they will be called on speaker phone now. Oral bidding same as before, break and bidding till settled. All bidders to be invited to orally bid MORE than High bids on TOTAL of both parcels, if there is any interest. Decision time for us. We expect your highest ORAL or WRITTEN offer to be binding for 30 (thirty) days following the sale. If the bidder chosen fails to complete the deal, your bid may be chosen. We should make the choice in moments. The bids accepted will make the 10% (percent) payment by check or wire transfer ASAP (as soon as possible), to a special account at Citizens State Bank. This may / might be done at my Attorney S. Lee Vinge’s office in Mayville, N.D., when we sign the Ernest Money Agreements. Fax may be used if Buyer was not present at sale. Sale should be done by 10:00 A.M. Buyers could be busy till noon, so I’ll buy dinner. I will order abstracts updated and prepare Contract for Deed if needed. Buyers will organize the money needed for closing the deal in 30 (thirty) days if abstracts are updated. REPRINTS OF RECENT NEWS ARTICLES             FARGO FORUM Thursday August 7 2008             BUSINESS           Your Business Editor             Craig McEwen               (701) 241-5502         business@forumcomm.com         N.D. farm land value sets record                                 By Blake Nicholson                              Associated Press Writer  BISMARCK< — The average value of farm real estate in North Dakota has set a record for the fourth straight year, driven primarily by high commodity prices that have fueled a demand for land. Industry officials say producers in the state who are taking advantage of the good times in agriculture to expand their operations are assuming some risk. But they say the chance of a repeat of the 1980s farm economy collapse is small, even If crop prices crash.          "The big difference now from the land boom in the 1980s ís that alot of the land is paid for with cash," said Dwight Aakre, a farm management specialist with The North Dakota State University Extension Service. “There’s not a lot of leveraging like in the ‘80s."                                                                                                        Scott Tewksbury, incoming president of the Independent Community Banks of North Dakota, said most of the farm land loan requests seen lately at his Edgley bank have been from "well-established" farmers, not those just getting into the business. "The people that we've financed lately have had substantial cash equity for their purchases," he said. "There's more true money being made than there was in the '80s. If they're putting substantial equity - we're talking 60 percent - down, I think the equity position is strong enough that  the risk is manageable.”        Farmers have been able to buy land lately because of record crop prIces that have boosted farm income, and finance rates have been favorable over the past several years, Aakre said.                                                       The average value of North Dakota farm real estate is up nearly 18 percent from last  year, to $765 per acre, according to the Agriculture Department. The average, which includes farm land and buildings, increased for the ninth straight year.  Since the 2004 figure of $455 per acre, which was equal to the 1982 average.  A record has been set in North Dakota every year, said Brian Kugel, a statistician with the North Dakota Agricultural Statistics Service.         North Dakota has one of the lowest farm real estate values in the nation. With its weather extremes. “We have a relatively risky climate to produce crops in,” Aakre said.         “Consequently. we’ve had maybe a little more room to increase (in values) than most                (page C3 I don't have).                  www.DakotaFarmer.com - June 2008                           Farm Land values soar         By LON TONNESON           THE North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers re-ports that the average price of cropland recorded in its recent survey of North Dakota sales increased 46% from 2006 to 2007.      In the Red River Valley, the average increase was 55%.In central North Dakota, the average increase was 22%.     In western North Dakota, the average increase was 21%.The highest sale price for cropland recorded in the group’s 2007 Land Value/Rental Rate Survey was $5,685 per acre. The land was located in Pembina County, ND.   Other top prices (per acre) reported by the group were:$3,1125, Otter Tail County. Minn.$2,800, Clay County, Minn.$2,350, Steele County, N.D.                                                                                                                           $3,500, Trail,  Grand Forks and  Wilken, counties, N.D.                                                                                  The average minimum and maximum sale prices per acre by region recorded in the 2007 survey were:   • northeast North Dakota — $500  and  1,448   • southern Red River Valley — $1,014  and $3,808   • northern Red River Valley — $450  and $4,512   • northwest Minnesota (including Red River Valley counties) $620  and $1,760  •  western Minnesota (including  southern Red River Valley counties)— $1,232 and $2,532The report was compiled by Charles P. Peterson. a farm manager with Bank of the West, Fargo, N.D., and a director with the ASFMRA North Dakota chapter. It is available online at the Dakota Farmer Web site,  www.DakotaFarmer.com  Look in the Web Exclusive section for "North Dakota ASFMRA Chapter -- Land Values Report."         Place a Bid!