We Sell Farm & Ranch Real Estate...Differently

2006 Case Studies

MEININGER “MILLER” LAND AUCTION - 154 ac +/- flood irrigated located in Logan County. This auction was held on December 14, 2006, at the Ramada Inn in Sterling, CO.    The seller had inherited the property and leased to tenants.  The property was offered in 3 parcels and as a single unit with a minimum bid of $250,000 and sold in 2 parcels for a total of $377,000. One buyer purchased as an investment and one buyer as a rural residence.  49 auction attendees with 15 registered bidders. 100 days from signing of listing contract to closing.

 

STODDARD LAND AUCTION - 160 ac +/- flood irrigated located in Logan County. This auction was held on November 30, 2006, at the Ramada Inn in Sterling, CO. The seller inherited the property.  The property was offered as 1 parcel with a minimum bid of $175,000 and sold for $237,000. The buyer was investor who will lease to family. 43 auction attendees with 12 registered bidders.  65 days from signing of listing contract to closing.

 

GERK SOUTH PLATTE RIVERBOTTOM HUNTING LAND AUCTION 94 ac +/- South Platte Riverbottom hunting located in Logan County.  This auction was held on November 15, 2006, at the Ramada Inn in Sterling, CO.    The seller was an owner operator.  The property was offered as 1 parcel with a minimum bid of $95,000 and sold for $111,000. The buyer was from outside the local area but will use it for hunting. 15 auction attendees with 4 registered bidders. 56 days from signing of listing contract to closing. 

 

BOB GIACOMINI OFFICE BUILDING & RENTAL PROPERTY AUCTIONOffice building and 3 rental homes located in Sterling.  This auction was held on November 15, 2006, at the Ramada Inn in Sterling, CO. The seller was an estate.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $135,000 sold for a total of $193,000. The office building sold to a buyer who was going to remodel and use the building.  The 3 rentals sold to an investor who will rent the properties. 31 auction attendees with 12 registered bidders. 58 days from signing of listing contract to closing.

 

WARREN DRYLAND/CRP AUCTION - 491 ac +/- CRP & dryland located in Logan County.   This auction was held on November 7, 2006, at the Ramada Inn in Sterling, CO.  The seller was an estate.  The property was offered in 3 parcels with a minimum bid of $157,500 and sold in 3 parcels for a total of $210,000. The buyers were an investor for CRP and 2 local owner operators.  24 auction attendees with 19 registered bidders. 79 days from signing of listing contract to closing.

 

BORGMANN CRP LAND AUCTION - 640 ac +/- CRP located in Washington County.  This auction was held on August 17, 2006, at the Country Steak-Out in Fort Morgan, CO.    The sellers were 6 siblings.  The property was offered in 2 parcels and 1 combination with a minimum bid of $220,000 and sold as a single unit for $225,000. The buyer was local owner operator who is going to break the CRP when it expires to farm it. Over 15 people attended the auction with 8 registered bidders.  15 auction attendees with 8 registered bidders. 97 days from signing of listing contract to closing.

 

WAITE - FETZER LAND AUCTION - 634 ac +/- dryland & improvements located in Phillips & Logan Counties.  This auction was held on July 18, 2006, at the Haxtun Community Center in Haxtun, CO.    Two sellers included their properties within the same auction. The first property was offered in 2 parcels and as a single unit with a minimum bid of $117,500 and sold as single unit for $245,000. The buyer was a local owner operator. The second property was offered in 3 parcels with a minimum bid of $174,000 and sold in 3 parcels for a total of $187,500. The buyers were local owner operators.  80 auction attendees with 26 registered bidders. 71 days from signing of listing contract to closing.

 

THE RONNIE KURTZER LAND AUCTION - 2,486 ac +/- dryland located in Phillips & Yuma Counties.  This auction was held on May 31, 2006, at the Ramada Inn in Sterling, CO. The seller was estate.  The property was offered in 7 parcels, 1 combination, and as 2 dryland units with a minimum bid of $945,000 and sold in 7 parcels to 4 buyers for a total of $1,032,000. The buyers were 2 local owner operators and 2 investors who purchased with ties back to the area. 43 auction attendees with 13 registered bidders. 66 days from signing of listing contract to closing.

 

SIECK 160 ACRE LAND AUCTION - 160 ac +/- Upland hunting and pond, flood irrigated, pasture, & improvements located in Logan County. This auction was held on May 8, 2006, at the Ramada Inn in Sterling, CO.  The seller was an owner operator.  The property was offered as 1 parcel with a minimum bid of $135,000 and sold for $255,000. The buyer was an owner operator from the local area. 27 auction attendees with 15 registered bidders. 54 days from signing of listing contract to closing.

 

WENNINGER AUCTION - 6,216 ac +/- pasture, dryland, & rural acreage located in Morgan & Weld Counties. This auction was held on May 2, 2006, at the Country Steak-Out in Fort Morgan, CO.    The seller was an estate.  The property was offered in 21 parcels, 6 combinations, and as 2 units with a minimum bid of $1,500,000 and sold in 21 parcels for a total of $1,997,500 to 7 buyers. One buyer sold property and was completing a 1031 and would farm the property, one buyer was an investor purchasing to lease to a family member, and 6 buyers were local owner operators. 54 auction attendees with 32 registered bidders. 64 days from signing of listing contract to closing.

 

TUTTLE LAND AUCTION - 1,516 ac +/- pasture, dryland, & improvements located in Washington County.  This auction was held on April 18, 2006, at the Morgan County Fairground’s Event Center in Brush, CO.    The seller was a trust.  The property was offered in 5 parcels, 2 combinations, and as a single unit with a minimum bid of $420,000 and sold in 2 parcels for a total of $540,000. One buyer was from outside the area but was going to initially owner operate.  The other buyer owned the oil well on the property and was going to lease the property. 47 auction attendees with 16 registered bidders. 62 days from signing of listing contract to closing.

 

AL MILLER 88 ACRE AUCTION - 88 ac +/- flood irrigated, pasture and improvments located in Logan County.  This auction was held on May 8, 2006, at the Ramada Inn in Sterling, CO.    The seller was an estate.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $200,000 and sold in 3 parcels sold for a total of $301,000. The buyers were all local owner operators. 27 auction attendees with 13 registered bidders. 56 days from signing of listing contract to closing.

 

LOGAN COUNTY LAND AUCTION - 240 ac +/- pivot/flood irrigated, improvements, and rural acreage located in Logan County.  This auction was held on March 30, 2006, at the Ramada Inn in Sterling, CO.    The seller was a spouse who acquired property after a family partnership split.  The property was offered in 4 parcels and as a single unit with a minimum bid of $420,000 and sold in 3 parcels for a total of $632,000. The buyers were owner operators.  72 auction attendees with 34 registered bidders. 101 days from signing of listing contract to closing.

 

317 ACRE LAND AUCTION - 317 ac +/- dryland, CRP, & improvements located in Phillips County.  This auction was held on March 28, 2006, at the Peerless Center in Holyoke, CO. The seller had lived at the property and leased the farmland out and relocated to another area.  The property was offered in 2 parcels and as a single unit with a minimum bid of $265,000 and sold in 2 parcels for $297,000. One buyer was an investor with ties to the area and the other buyer purchased the improvements to live there.  27 auction attendees with 7 registered bidders. 56 days from signing of listing contract to closing.

 

1,600 ACRE LAND AUCTION - 1,600 ac +/- dryland located in Phillips County.  This auction was held on March 15, 2006, at the Peerless Center in Holyoke, CO.    The seller was the CSU Foundation who had received this property as a gift through estate planning.  The property was offered in 8 parcels with a minimum bid of $780,000 and sold in 8 parcels for $992,500. The buyers were 8 local owner operators.  52 auction attendees with 26 registered bidders. 64 days from signing of listing contract to closing.

 

GASP WATER RIGHTS ABSOLUTE AUCTION – The water rights owned by GASP were offered at Absolute Auction in 99 lots.  The auction was held on February 9, 2006, at the Island Grove Park Exhibition Building in Greeley, CO.  The seller was a owner operator.    The water rights sold for $6,396,500 in 99 lots to 24 buyers. 13 buyers were owner operators with a use of the water for augmentation and/or farming, 3 buyers were municipalities, 2 buyers were investors, and 6 buyers were ditch or reservoir companies.  451 auction attendees with 135 registered bidders. 70 days from signing of listing contract to closing.