Featured News 2012 Farm State Drought and Real Estate

Farm State Drought and Real Estate

At the moment, key farm states are undergoing a serious drought. According to the Southeast Missourian, the excessive drought conditions have facilitated the hottest month on recording the continental U.S., and caused many fields to dry up because of a lack of water. The current drought in farm states are currently declared wither extreme or exceptional drought, the two worst classifications. The growers in Iowa sat their conditions deteriorate with a 69.14 extremity. In Nebraska, the extremity has shot up to 91.2 percent, and in Kansas it has risen to 38.58 percent. Missouri is in a state of “exceptional” drought at present, and many of the crops were not harvested because they died in the stifling heat. About 95 percent of Missouri’s farmland has been hit by the drought and failed to produce the goods needed.

According to the U.S. Agriculture Department, at the moment nearly half of the nation’s corn crop is rated poor to very poor. 39 percent of all soybeans being produced in the U.S. are also poor to very poor, and three-fifths of the nation’s range land for cattle is poor or dead. The deteriorating conditions of farm land may affect real estate sales. If you are planning on selling your farm, land that is dry and barren will probably not sell well. If you decide to mask the way that the drought has affected your property, you could be sued for masking the home’s condition later on.

According to AG Professional, homes and farms are still selling, even in the drought. A 79-acre farm in an area hit hard by the drought recently sold for $13,189 because some buyers are looking at the long-term value of the properties. They assume that the drought will eventually subside, and the land will be valuable once again. One real estate agent says that they are marketing to investors who want to purchase the properties now and turn it into a profitable business later. Still, some farmers aren’t able to make it through the drought, and their lack of crops is turning them towards debt and potential foreclosure if their revenue doesn’t come in.

Ranchers are currently being forced to sell their cattle as they watch the animals grow thin from the lack of range to graze. The ranchers also are struggling to purchase corn feed for their animals because America corn crop has fallen drastically. The lack of corn has caused a rise in prices which in turn has sent many ranchers and farmers struggling to afford the food for their animals. These expenses are all changing the real estate market in these locations, and are also affecting the way that people do business. If you are involved in a farm or ranch lawsuit at this time that is related to the drought, then you may need a real estate attorney on your side. Times are tough at the moment and many wrongs are being neglected because of the stress that farmers are under at present.

When times get tough, a lot of people are looking for someone to blame. If you recently purchased farm property, or you believe that there has been damage done to your property, then you may want to investigate for litigation. Also, in this economy those that are succeeding may cause their neighbors to grow jealous. In the past, famers have sprayed poisons or set fire to their neighbor’s crops so that someone would not succeed beyond them. Whatever your farm or ranch lawsuit entails, a real estate attorney can help you to legally work through your issues.

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