Farm Transfer Patterns in Panhandle Bulletin Released
March 21, 2008
Turnover of agricultural holdings in the Nebraska Panhandle averages less than two percent a year, according to a new research bulletin by four UNL Agricultural Economics faculty and students.
RB 349, Farm Real Estate Ownership Transfer Patterns in Nebraska's Panhandle Region, analyzes transfers in ownership of agricultural real estate in the 11-county Panhandle, based on a widely held perception that absentee owners were responsible for a considerable number of acquisitions in recent years. The study found no evidence to suggest a major shift in land tenure toward out-of-state owners.
The research bulletin was written by UNL agricultural economists Bruce B. Johnson and Dennis M. Conley, agricultural economics graduate student Gibson Nene, and agricultural economics undergraduate student Patrick L. Krepel. The study was funded by the University of Nebraska Rural Initiative.
The study found:
- Out-of-state buyers have a strong presence in the agricultural land market of the region, acquiring more than half of the transferred agricultural land.
- Out-of-state participants were also active sellers. For every 10 acres purchased by this group, nearly 13 acres were sold, leading to a net decrease in this group's holdings.
- Out-of-state buyers named investment as the primary reason for purchase.
- Local buyers credited expansion as their primary motive.