cash buyers

Stable land prices
3:21 pm
Mon February 6, 2012

Expert Says Farm Land Prices Should Remain Stable

Consultant David Johnston

The sale of prime farm land in west-central Illinois usually brings more than $10,000 per acre.

A consultant and former WIU faculty member said that trend is likely to continue.

David Johnston said the prices for farm land are not a “bubble.” He said the prices are based on solid fundamentals.

He said low interest rates are having a limited effect.

Johnston said, “The buyers in this market are primarily cash buyers. So interest rates are irrelevant to a totally cash buyer as far as borrowing funds whatsoever.”

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