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Kentucky Land Brings $17.5 Million at Auction Reflecting Strong Demand for Farmland
Source: Daily Finance, by Market Wire
Approximately 4,574 acres of farmland, hunting land and home sites sold for $17.5 million Wednesday in a Westchester-Schrader auction that attracted a strong field of buyers not only from the local area but from out of state as well. October 08, 2010 "We had a number of factors that came together to create a strong market, and that led to an excellent outcome. Commodity prices -- especially for corn -- had a strong summer, which means the land produces higher returns. Plus, high quality tillable land has continued to show strength," said Gene Klingaman, executive vice president of Schrader Real Estate and Auction Company.
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