Field Guide to Agricultural/Farm Land
(Updated December 2007)
On the surface, buying a farm has a very 'get away from it all' sort of appeal. The reality is that farming can be emotionally and financially stressful with success dependent upon many variables, including the weather, taxes, domestic and foreign competition, etc. The rewards, however, can be considerable. This Field Guide explores the pros and cons of owning farm property. (M. Martinez, Library Manager)
Contents:
So You Want To Buy a Farm? | Financing Farm Property | Appraising Agricultural Properties | Hobby Farms | Useful Websites | Books, eBooks & Other Resources
2002 Farm Acreage Statistics
2.13 million - Number of farms in the U.S. (down .4% from 2002)
938.8 million acres - Total farmland acreage (down 1,550,000 from 2002)
436 acres - Average farm size (down from 435 acres in 2001)
Texas leads the nation in farm acreage, with 131 million acres
Source: Farms and Land in Farms, (U.S. Dept. of Agriculture, Feb. 2004).
So You Want to Buy a Farm?
Bet the farm, (Forbes, Dec. 10, 2007)
Plant-based fuels drive farmland prices, (NuWireInvestor, June 21, 2007)
Up on the farm, (BusinessWeek, June 18, 2007)
Corn farms replace New York lofts as hottest property, (New York Sun, Feb. 21, 2007)
Best places to live in rural America 2007, (Progressive Farmer, 2007).
Farm Real Estate Values, (United States Department of Agriculture, 2006).
Buying rural property, (www.govbiz.com).
Some considerations when buying agricultural land, (Washington State University).
Farmland investing: an overview, (www.pionline.com, Dec. 2005).
Financing Farm Property
2008 Farm Income Forecast, (USDA.gov, 2008).
Taxation as agricultural property denied for property supporting greenhouses, (The Appraisal Journal, July 2003). Q
Not your grandather's farm credit system, (Tierra Grande, July 2002).
Appraising Agricultural Properties
Farmland value survey, (Ag Decision Maker, Oct. 2007)
How agricultural property is valued in Colorado, (Colorado Assessor's Association / Mesa County, Co Assessment, Jan. 2005).
Back home on the hobby farm, (Time, Oct. 11, 2007).
How to buy the right hobby farm, (www.eHow.com, Apr. 10, 2007).
Buying your first hobby farm, (www.ezine.com, Apr. 4, 2007).
Specks of land put cash in pockets, (Des Moines Register, July 24, 2005).
Buying the Farm (Old Farmhouse vs. New), (Hobby Farms Magazine, 2005).
Farming for fun, (CNNMoney, 2005).
Farm Income and Taxes, (Hobby Farms Magazine, Mar./Apr. 2004).
Useful Websites
Farmer Mac, (FarmerMac.com).
American Society of Farm Managers and Rural Appraisers, (www.ASFMRA.org).
Farm loans, (USDA Farm Service Agency).
American Farm Bureau, (www.fb.com).
Journal of Land Use & Environmental Law, (www.law.fsu.edu).
eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
The appraisal of rural property, (Chicago, IL: The Appraisal Institute, 2000). HD 1393 Am3a
Appraisal & review guide for rural properties, (Alexandria, MN: The Appraisal Institute, 2000). HD 1387 M57
Farm and ranch marketing, (Upper Saddle River, NJ: Prentice Hall, 1998). HD 1393 R72
Investing in farmland, (Chicago, IL: Probus, 1989). HG 4521 W75f
Farm appraisal and valuation, (Chicago, IL: Iowa State University Press, 1983). HD 1393 M8 Ed. 6
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Land Investment
Field Guide to Transfer of Development Rights (TDRs)
Field Guide to Water Rights & Resource Issues
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The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
