We Sell Farm & Ranch Real Estate...Differently

2008 Case Studies

STERLING LAND INVESTMENTS LAND AUCTION - 805 ac +/- pivot, dryland, hunting, flood irrigated, and sub-irrigated pasture located in Logan County.  This auction was held on December 16, 2008, at the Ramada Inn in Sterling, CO.  The seller was investor.  The property was offered in 5 parcels, 2 combinations, and as a single unit with a minimum bid of $600,000.  The property sold for $775,000 as a single unit. The buyer was an absentee owner who owned land in the area and purchased to have his cousins farm the property.  Over 39 people attended the auction with 11 registered bidders. 98 days from signing of listing contract to closing. 

 

WILTERDINK CRP/PASTURE AUCTION - 400 ac +/- CRP & pasture located in Phillips County.  This auction was held on December 16, 2008, at the Ramada Inn in Sterling, CO.  The sellers were a brother & sister-in-law who owned the property together through inheritance and wanted to dissolve the relationship.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $155,000.  The property sold for $162,500 in 2 parcels. One buyer was a local farmer and the other buyer was an investor who with no ties to the area.  Over 20 people attended the auction with 7 registered bidders. 88 days from signing of listing contract to closing. 

 

STROH PIVOT IRRIGATED LAND AUCTION – 2,162 ac +/- pasture, pivots, residences, feedlots, and grain storage located in Yuma County.  This auction was held on November 21, 2008, at the Wray Elks Lodge in Wray, CO.  The seller was owner operator family owned partnership.  The property was offered in 14 parcels, 5 combinations, 3 units, and as a single unit with a minimum bid of $5,600,000.  The property sold for $5,895,000 as a single unit. The buyer was an investor who purchased the property by bidding via the internet.  Over 100 people attended the auction with 23 registered bidders. 91 days from signing of listing contract to closing. 

 

HAWKEN-SANKEY PREWITT HUNTING PROPERTY AUCTION – 589 ac +/- hunting property located in Logan & Washington Counties.  This auction was held on November 14, 2008, at the Ramada Inn in Sterling, CO.  The seller was 2 sisters who had inherited the property.  The property was offered as 1 parcel with a minimum bid of $640,000.  The property sold for $740,000 as 1 parcel. The buyer was a hunting group who owns property in Morgan County.  Over 39 people attended the auction with 5 registered bidders. 77 days from signing of listing contract to closing. 

 

PASTURE & CRP (Bundy) LAND AUCTION - 916 ac +/- pasture & CRP located in Yuma County.  This auction was held on November 12, 2008, at the Grassroots Community Building in Joes, CO.  The seller was brother and sister who had inherited the property and leased the pasture.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $275,000.  The property sold for $332,500 as a single unit. The buyer was a farmer from outside the area who exchanged the CRP to a neighbor and resold the pasture to a local rancher. Over 22 people attended the auction with 16 registered bidders. 84 days from signing of listing contract to closing. 

 

TOMPKINS (Busig) RANCH AUCTION – 2,157 ac +/- pasture, dryland, & improvements located in Logan County. This auction was held on October 7, 2008, at the Ramada Inn in Sterling, CO. The seller was mother and 2 daughters.  The majority of the property had been in the family for over 94 years. The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $810,000 and sold as a single unit for $1,130,000. The buyers were from the local area with 2 being owner operators and one being a local water conservancy district buying the property for potential flood control. 61 auction attendees with 17 registered bidders. 83 days from signing of listing contract to closing.

 

BLACKBURN CRP LAND AUCTION – 1,117 ac +/- CRP and pasture located in Washington County. This auction was held on September 30, 2008, at the Ramada Inn in Sterling, CO. The seller was the Arlene Blackburn Estatei.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $315,000 and sold as a single unit for $490,000. The buyer was an out of state investor. 29 auction attendees with 10 registered bidders. 88 days from signing of listing contract to closing.

 

KEOTA RANCH AUCTION – 3,284 +/- grassland & improvements located in Weld County. This auction was held on September 23, 2008, at the Regency Hotel in Greeley, CO. The seller was a lender who acquired the property through foreclosure.  The property was offered in 5 Parcels, 2 Combinations, and as a Single Ranch Unit with a minimum bid of $605,000 and sold to two local owner operators for $810,500.  50 auction attendees with 16 registered bidders. 81 days from signing of listing contract to closing.

 

STRYKER LAND AUCTION - 982 ac +/- dryland, CRP, pivot, pasture, & improvements located in Logan & Phillips Counties. This auction was held on June 10, 2008, at the Haxtun Community Center in Haxtun, CO. The seller was 4 siblings who had inherited the property.  The property was offered in 6 parcels, 2 combinations, and as a single unit with a minimum bid of $660,000 and sold as a single unit for $853,500. The buyers were 3 owner operators, 2 from the local community and one relocating. 55 auction attendees with 19 registered bidders. 53 days from signing of listing contract to closing.

 

CONSIGNMENT Pasture Auction - 3,878 ac +/- pasture with pivot irrigated and improvements located in Logan County. This auction was held on April 28, 2008, at the Ramada Inn in Sterling, CO.    This was a consignment auction whereby 5 sellers participated and offered their properties within the same auction.  Each property was offered separately for a a combined total minimum bid of $1,130,000 and sold for a combined total of $1,402,500. The 2 buyers were adjoining landowners and 3 were first time property buyers.  88 auction attendees with 37 registered bidders. 68 days from signing of listing contract to closing.

 

DEUEL CTY DRYLAND AUCTION – 1,055 ac +/- dryland located in Deuel County.  This auction was held on April 18, 2008, at the Chappell Fire Hall in Chappell, NE.  The seller was a lender.  The property was offered in 4 parcels and 1 combination with a minimum bid of $350,000 and sold to 2 buyers for a total of $527,500. One buyer was a owner operator from within the local area and one buyer was an investor.  25 auction attendees with 10 registered bidders.  60 days from signing of listing contract to closing. 

 

 

GRAUBERGER AUCTION - 1,578 ac +/- dryland & improvements located in Logan County. This auction was held on March 31, 2008, at the Ramada Inn in Sterling, CO.   The seller was family owned property who had leased the property for the last 7 years.  Several parcels of this property had been in the family for over 100 years. The property was offered in 8 parcels, 3 combinations, and as a single unit with a minimum bid of $770,000.  The dryland sold as single unit for $1,210,000 and the improvements sold for $65,000. Both buyers were local owner operators.  108 auction attendees with 31 registered bidders. 84 days from signing of listing contract to closing.

 

 

4 DIAMOND RANCH AUCTION - 280 ac +/- grassland & pivot irrigated located in Weld County. This auction was held on March 18, 2008, at the Island Grove Regional Park in Greeley, CO.  The seller was a owner operator.  The property was offered as 1 parcel with a minimum bid of $220,000 and sold for $240,000. The buyer was a owner operator. 19 auction attendees with 11 registered bidders. 51 days from signing of listing contract to closing.

 

 

 

X BAR 4 RANCH, INC. LAND AUCTION - 2,085 ac +/- deeded dryland & pivot irrigated, 640 ac State of Colorado lease dryland, & improvement site located in southern Washington County. The auction was held on February 12, 2008, at the Washington County Fairgrounds in Akron, CO. The seller was a family corporation owned by 3 – third generation siblings who were absentee owners, who leased the farm to a tenant, and no interest in farming themselves.  The property was offered in 9 parcels, 2 combinations, and as a single unit with a minimum bid of $1,305,000 and sold for $2,325,000 in 7 parcels and 1 combination. The buyers were 6 local owner operators from within the local area, 1031 exchange with a absentee owner who owned property in the area, and an investor who purchased to lease to a friend.  110 auction attendees with 38 registered bidders.  104 days from signing of listing contract to closing.

 

480 AC DRYLAND AUCTION - 480 ac +/- dryland located in Logan & Phillips Counties. This auction was held on February 7, 2008, at the Haxtun Community Center in Haxtun, CO.    The seller was owner operator.  The property was offered in 2 parcels and as a single unit with a minimum bid of $222,500 and sold as a single unit for $290,000. The buyer was a local owner operator.  65 auction attendees with 18 registered bidders. 59 days from signing of listing contract to closing.

 

STEWART DRYLAND AUCTION - 795.6 ac +/- dryland located in Deuel County, NE. This auction was held on February 1, 2008, at the Chappell Fire Hall in Chappell, NE.    The seller was an heir recently had inherited the property. The property was offered in 3 parcels and 1 combination with a minimum bid of $360,000 and sold as 1 combination and 1 parcel for $657,500. Both buyers were owner operators.  75 auction attendees with 19 registered bidders. 87 days from signing of listing contract to closing.

 

 

LAMAR RIVERBOTTOM & HUNTING LAND AUCTION - 639 ac +/- Arkansas Riverbottom Hunting, pasture, & improvements located in Prowers, County. This auction was held on January 29, 2008, at the Cow Palace in Lamar, CO.    The seller was owner operator.  The property was offered in 6 parcels, 3 combinations, and as a single unit with a minimum bid of $575,000 and sold as a single unit for $700,000. The buyer was adjoining landowner.  45 auction attendees with 19 registered bidders. 98 days from signing of listing contract to closing.

 

 

WILLIAM LOCK ESTATE IRRIGATED LAND AUCTION - 217.3 ac +/- pivot/flood irrigated & improvements located in Logan County.  This auction was held on January 22, 2008, at the Ramada Inn in Sterling, CO.    The seller was an estate.  The property was offered in 2 parcels and as a single unit with a minimum bid of $530,000 and sold as a single unit for $620,000. The buyer was investor who leases to local tenants. 35 auction attendees with 4 registered bidders. 114 days from signing of listing contract to closing.