Over the past few years, farm prices for tillable farmland have increased substantially. However, in 2014, the farm frenzy seemed to fizzle out. Throughout the year, many speculated that farm prices had leveled off or even declined.
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Appraising duck hunting farm properties is a fairly difficult undertaking due to the many different variations of farm property characteristics. However, every good duck hunting farm property needs the same basic features, and these features are the greatest factors in valuing the property.
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At the end of December 2018, I completed two farm appraisals on properties in Brown County, Illinois, that I had appraised previously in 2016. One of the farm properties was over 80% tillable while the other property was more of a recreational tract, less than 40% open.
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