Thu Sep 24, 2009 12:53 PM CDT -COUNCIL BLUFFS, Iowa (DTN) -- Iowa farmland values lost another 1.9 percent from March 2009 to September 2009, according to a recently released survey by the Realtors Land Institute (RLI), pushing the state's land values down a total of 9.5 percent compared to a year ago.
Considerably lower commodity prices for both grain and livestock are the main reason for the steep year-over-year adjustment, said RLI spokesman Troy Louwagie, accredited land consultant with Hertz Real Estate Services, Mt. Vernon, Iowa. Other factors include volatility in the stock market and declining confidence in the world economy. The RLI surveys realtors and rural appraisers.
