Western Kansas and Easter Colorado Land Sales Strong in 2010.
Faulkner Real Estate, is celebrating another record breaking year of residential and agricultural sales in Western Kansas and Eastern Colorado. We ended 2009 with just over 160 land, home and commercial real estate transactions on the book in over 9 counties in Kansas and Colorado. After the record setting pace of land sales, mostly production farm ground, over the last 2 years the US economy hit the wall. Many spoke of depression and the economic outlook was bleak. However, in the mighty midwest conservative values and good business principles kept us, while not untouched, less affected by the economic downturn.
Land appreciation did level slightly in 2009 compared to 2008, but still
Conservation Reserve Program Land (CRP) Selling Well (edit/delete)
Many farmers in the Western Kansas and Eastern Colorado region have expressed concern to me about the millions of acres to come out of CRP in the coming years. In 2009 alone we saw thousands of acres come out of the program and much of it come up for sale. Many feel that the increase in supply will decrease demand. While this theory is well proven and mostly true. Currently there has not been enough over supply to decrease demand.
In fact in some cases it is causing the opposite reaction. Many farmers are seeing this an an unprecedented opportunity to obtain the land they've sought for years that was tied up by CRP and absentee owners. Now that CRP is not as a viable investment option