The International Crop Expo featured a session covering land and equipment markets. Steffes Auction Director of Real Estate Max Steffes said real estate taxes have an impact on sale prices from state to state. “Minnesota is not bashful about taxes,” said Steffes. “I’ve typically seen about a $1,000 an acre difference between a comparable tract of land on the North Dakota side versus the Minnesota side.” Steffes also highlighted a shift in how used equipment is leveraged and sold in negotiating equipment upgrades. Less used equipment is going to dealerships on trade-ins with producers favoring auctions or private treaty sales and negotiating prices from a cash position. Hear the full interview with Max Steffes here.
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