January 6, 2009
- Pasco, Washington
Farm Real Estate at Record High
By Rudabeh Shahbazi
KENNEWICK-- National farmland prices are at an all-time high, and the Tri-Cities area is no exception.
Prices locally have doubled in the last few years, up 15 percent since last year. Realtors say farmers switching out traditional crops for bio-fuels play a big role in the hike. "It's all about supply and demand," said Paul Roy, manager of Coldwell Banker, Tomlinson. "The supply for other commodities go down, the prices are going up, so farmers are getting really good pricing on their crops, which makes the land more valuable." The price of livestock affects the price of farmland, but experts say it's mostly the high prices of crops that make the land more expensive when it is sold. |
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