AI Brings Transparency to Farmland Values?

ASFMRA Ag News

December 5, 2023

Sometimes the answer to a question is right in front of you, but you can’t see it. Like where is the box of tissues in the storage closet? My husband insists we are out of tissues. I insist there is a box in there, he just needs to keep looking. We bicker about it some more, shouting from opposite sides of the house, until I finally join him at the closet and find it myself…in seconds.

Artificial intelligence (AI) is on its way to helping humans efficiently sort through the “storage closet” of farmland data to answer complex questions, such as how much a field is worth and who is likely to buy it. Yet, some say it has a long way to go.

Read More Here

Agricultural Legislation Update

Regulators Update Appraisal Threshold Exemption; Updated GAO Crop Insurance Report; Limited Progress on Appropriations; & More.

Read the Full Report

MORE NEWS

Producer Sentiment Improves

Purdue's Ag Economy Barometer reports rising sentiment for second consecutive month.

Producers Credit Stronger Financial Conditions

Foreign Buyers Pay a Premium

An analysis of land sales found foreign investors paid 13.7% more for comparable tracts.

2.9% of U.S. Ag Lands Owned by Foreign Entities

Farm Tax Credit Bill Targets Solar

Bill would pull farmland tax credits from farmers who host solar power installations on their land.

Lawmakers Argue Over Proposal Targeting Solar

'Dallas' Star Auctions Ranch

Patrick Duffy set to auction his 330-acre Oregon ranch featuring a mile of Rogue River frontage.

Property Includes Two Homes & Two Guest Cabins

SOCIETY NEWS

Upcoming Chapter Events

With Chapter winter meetings right around the corner, the ASFMRA's Education Calendar is currently filled with local education and networking opportunities that are perfect for rural property professionals. Click on the links below to learn more about the continuing education available through these events:

Northeast Chapter 7-Hour USPAP Update

January 11 | Livestream

Washington Chapter Winter Meeting 2024

January 17-18 | Richland, Washington

Ohio Chapter Winter Meeting

January 17-18 | Lewis Center, Ohio

Idaho-Utah Winter Meeting 2024

January 24-25 | Logan, Utah

Missouri Chapter 2024 Winter Meeting

February 5-6 | Lake Ozark, Missouri

2024 Montana Chapter Meeting

February 6 | Bozeman, Montana

New Mexico Chapter 7-Hour National USPAP

February 9 | Ruidoso, New Mexico

Wisconsin Chapter 7-Hour USPAP & Discounted Cash Flow Application

February 27-28 | Fond du Lac, Wisconsin

Arizona Chapter 28th Annual Spring AG Forum

Feb. 29 - March 1 | Phoenix, Arizona

Chapter Event Calendar

Resource Reminder: NCREIF Quarterly Reports

ASFMRA members enjoy access to the NCREIF Farmland Property Index, a quarterly report on the investment performance of farmland properties acquired in the private market for investment purposes only.

The quarter three report for 2023 was recently released - click here to view.

From The Scoop:

2024 Land Value Influencers in Your Region Read More Here

American Gothic: Farm Couple Nailed in Massive $9M Crop Insurance Fraud Read More Here

New Members & Referrals

Welcome new members to the ASFMRA, and thank you to our referring members for spreading the word!

Member Resource - NCREIF

View the latest NCREIF Farmland Property Index, available for ASFMRA members only.

ADDITIONAL INFORMATION

Reminder: be aware of emails from ASFMRA members or staff asking for odd requests or requesting odd purchases. A good way to validate these requests is to check the actual email address, and not just the name you receive emails from.

Texas ACE Provider #: 7

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