Finally we have really good news for the farm market in the Bluegrass- yeah!
Most of the figures you look at make it appear as if the local real estate market has hit bottom and may be attempting to gain strength. From a more anecdotal stand point, sellers have finally begun (and only just begun) to realize that prices have dropped 20% or more in some cases. As the last hold outs drop their prices the sales volume increases and we finally get a real idea of what prices the buyers will bear in the current market. It seems if most of the really great buys on paper are finally selling. Although I certainly do not have a crystal ball, I think now is a great time to buy and particularly if you are not a cash buyer. There is greater risks of higher interest rates, even if minimal, than there are of falling farm values. Cash buyers will be less affected by interest rates so you have less risks in waiting to see how strong the market continues to grow.
Hill Parker, Broker 859-608-8039
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