There are absentee owners all over the country with no simple way of researching land values or rental rates online
Clive, Iowa (PRWEB) January 28, 2016
Farmland values in Iowa and other states can now be easily estimated at WhatsMyFarmWorth.com, a map-based valuation tool powered by Peoples Company and AgSolver. The mobile-friendly website draws on public data while utilizing the latest innovations in digital technology to provide farmers and landowners with a baseline estimate for land values or rental income.
WhatsMyFarmWorth.com provides a unique and adaptive approach to determining land values. Commodity markets and operating margins have created an environment where market based and financially viable land values are not always connected.
WhatMyFarmWorth.com provides a cash flow based valuation that uses rich data resources and algorithms to determine land values based on actual historical productivity, market based revenue opportunities, and standard operating cost profiles.
WhatsMyFarmWorth.com takes into account location, soil types and other statistics from public sources while allowing users to zoom in on a farm, identify field boundaries and download reports within minutes to a computer, tablet or smartphone. The free service is now available in each of the 14 states that Peoples Company holds a real estate license.
“There are absentee owners all over the country with no simple way of researching land values or rental rates online,” said Steve Bruere, president of Peoples Company. “By taking farmland estimates digital, we are giving them another way to determine baseline values prior to considering a professional appraisal or the sale of their land.”
Bruere said that the online resource is intended not to replace, but rather reinforce a comprehensive line of brokerage, land management and appraisal services, including the generation of comparable sales data, as the Peoples Company team evaluates changing demographics, new technologies and alternative variables in a global land market.
Results of a recent survey by the USDA’s National Agricultural Statistics Service show that approximately 10 percent of all U.S. farmland is expected to have new ownership by late 2020. The Iowa market alone comprises approximately 30 million crop acres and a $230 billion asset class.
According to the USDA’s survey, an estimated nine percent of farmland in Iowa other parts of the Midwest could change hands within five years. The value of land rented out in the United States last year was $1.1 trillion, including buildings on the land.
“The technology is there for farmers and landowners from around the nation to hop on the Internet and find out what their farm is worth or what it will rent for,” Bruere said. “There is a huge demand for this service, and we are offering it free of charge. It’s about harnessing the power of public data and advancing technology, with our boots-on-the-ground while effectively collaborating to add value to our customers.”
About Peoples Company
Peoples Company is a leading agricultural real estate services provider specializing in land brokerage, land management and land appraisal throughout the Midwest and in key markets across the United States. The cornerstone of Peoples Company’s aggressive marketing efforts includes a 60-person team and the establishment of key relationships with major institutional investors in the land investment space. The Land Investment Expo, hosted annually since 2008, each January attracts more than more than 600 people to the heart of ag country. Clive-based Peoples Company is licensed to sell real estate in 14 states, including Iowa, Illinois, Minnesota, Missouri, Montana, Nebraska, North Dakota and South Dakota. For more information, visit http://www.PeoplesCompany.com or call 855-800-LAND (5263).
AgSolver is agronomic data and simulation company located in Ames, Iowa. AgSolver was founded by engineers and data scientists that live and breathe Midwest agriculture. The AgSolver team uses that combination of proven technical expertise and practical in-field management experience to deliver impactful decision services to land managers, land owners, retail agriculture, financial service providers, and conservation professionals. AgSolver focuses on a management process called Precision Business Planning. Precision Business Planning transitions land management decision making from the current exclusive focus on yield and revenue to business centered decision making that maximizes financial return on investment for each acre and each dollar of committed working capital. Precision Business Planning simultaneously delivers improved financial and environmental performance through our land management practices. To learn more visit http://www.AgSolver.com.