2017 North Dakota. Agricultural Land Price & Cash Rent Survey. Presented by the

Transcription

1 2017 North Dakota Agricultural Land Price & Cash Rent Survey Presented by the

2 Table of Contents About the ASFMRA. 3 ND Chapter Officers / Message from President..4 Survey Details. 5 Survey Contributors...6 Market Conditions North Dakota Land Regions..8 Region 1 - Red River Valley 9 Region 2 - Northeast Region 3 - Northwest/ North Central Region 4 - Southwest.. 18 Region 5 - Southeast Regional Cropland Index/Trends State Cropland Index/Trend ND Chapter ASFMRA 2017 Directory

3 About the ASFMRA The American Society of Farm Managers and Rural Appraisers (ASFMRA) is recognized as the premier professional organization for property economic professionals who provide management, consultation, and valuation services, as well as real estate services on rural and agricultural assets. The land experts who hold membership in the ASFMRA work under a professional code of ethics, which includes continuing education requirements. You can rest assured that if you re working with someone who is an accredited member of the American Society of Farm Managers and Rural Appraisers, you are truly working with a competent land expert and agricultural professional who can assist you with all of the needs you have for your land asset. The ASFMRA, founded in 1929, provides members with the educational resources, information, and leadership that enable them to deliver valuable services to the agricultural community. The focus of the ASFMRA is providing education and networking opportunities for a professional group of members providing farm and ranch management, rural and real property appraising, review appraisal, and agricultural consulting services to the private and public sectors and to the governmental and lending communities. The North Dakota Chapter of the ASFMRA consists of approximately 40 members working as land professionals in the State of North Dakota. The North Dakota Chapter is a nonprofit, with a mission of supporting the ethical and professional standards established by our national organization, as well as promoting our professions through local educational opportunities and networking. For more information on the ASFMRA, please visit 3

4 Meet the 2017 ND Chapter Officers President..Kyle Nelson, ARA Vice President. Chad Wigestrand, ARA Director... Tim Terras, ARA Director...Ryan Haugen Director....James Ivers, AFM Past President.. Charles Peterson, AFM Secretary. Kaitlyn Timian Message from the President On behalf of the North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers (ASFMRA), it is my pleasure to present the 2017 North Dakota Agricultural Land Price & Cash Rent Survey. A special expression of gratitude goes out to the land professionals throughout our state that contributed the data to make this survey possible. Kyle Nelson, ARA The ASFMRA continues to be the preeminent professional organization for rural property experts, including farm managers, appraisers and consultants throughout the country. The North Dakota Chapter has been active since 1964, with the educational training provided to its members ensuring a high degree of ethical, professional, and competency standards when delivering services to their clients. Please feel free to direct any questions that you might have to an ASFMRA Member (see ND Chapter Directory, page 28). While the information provided herein offers a general overview of data and trends throughout the state, it cannot replace the in-depth and more specific knowledge that our members can provide. Our membership looks forward to serving any farm real estate needs that you may have. 4

5 Survey Details This is the 21st year the North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers (ASFMRA) has provided an Agricultural Land Price and Cash Rental Survey. This year, 34 professionals in the appraisal, farm management, and land sales disciplines contributed to the report. The report includes regionalized county level data for vacant dry cropland and pasture sales, as well as a range of cash rents on a per acre basis (for both cropland and pasture). Due to a limited number of pasture sales in some counties, the sales data was consolidated. Data includes January 1 st, 2017 to December 31 st, 2017 agricultural land sales and new or existing (multi-year) cash rent contracts. Land Professionals were asked to omit data from non-typical sources including, but not limited to irrigated (wet) cropland, transitional and/or development land, land under restrictive easements, etc. The low and high prices per crop or pasture acre are generally due to modifiers that may include locational and physical factors like market area, soil productivity, drainage, as well as any changing market conditions during the calendar year. Reported sales are likely to include duplicates (reported by multiple land professionals), and may not indicate the actual number of sales in that county. In statistics, it is the tendency of data to regress towards the mean as sample sizes increase. Because the statistical mean (or average) is the preferred method to report and measure our regional and statewide cropland index, no attempt was made to consolidate the sales data. Survey readers are asked to exercise discretion when using data from this report. This survey data should never be used as a substitute for a land professional. 5

6 Survey Contributors AgCountry Farm Credit Services Roger Durensky, ARA AJ Hammen Tim Kreft, ARA Karen McCann Tim Terras, ARA Kaitlyn Timian Chad Wigestrand, ARA Crown Appraisals, Inc. Jeff Berg, ARA, ASA, FRICS Brian Field, ARA Megan Klosterman Tyler Walsh, CPA Farm Credit Services of North Dakota Wade Iverson, MAI Brie Leier, ARA Nikki Mertz Farm Credit Services of Mandan Sheila Ressler Farmer s National Company Andrew Gudajtes, ARA Jim Ivers, AFM Kyle Nelson, ARA Eric Skolness, AFM, ALC Dale Weston, AFM Noel Johnson Minn-Dak Appraisals & Consulting Steve Webster Pifer s Land Management Paul Butenhoff Dwight Hofland, AFM, AAC Roos & Associates, Inc. Les Roos, ARA Ray Theilges Timian Appraisal Services Tim Timian, ARA Tinjum Appraisal Company, Inc. Taylor Bussman US Bank, Farm Management Group Charles P. Peterson, AFM Bryan S. Strom Weishaar Appraisal Services Shawn Weishaar, ARA Wells Fargo Real Estate Management David R. Camrud Dan DeKrey Allen Wood 6

7 Market Conditions The price levels of productive crop and pasture land in North Dakota regained some strength in This development in pricing likely has established a firm floor on land values. Investors and farmers with strong balance sheets continue to purchase land to add to their portfolios. This group of buyers is well positioned to provide market strength as we are starting to see land inventories tighten going into Dwight Hofland, AFM/AAC While we are seeing steady pricing and value in quality land, we are also seeing pasture land and marginal land strengthen due to the dry condition in the Western Dakotas. As ranchers look to add land to sustain their cattle herds and feed supply, they have expanded their trade regions adding additional pressure to local land markets and rental rates. There are multiple market influences on the horizon that may have a positive or negative impact on land values. These include, but are not limited to; continued drought conditions in the upper Midwest, increasing interest rates, tight profit margins in the agricultural industry, increasing global demand, and trade relationships. As we have seen land values rise and fall the past few years, so have the rental rates. Most rental rates are a lagging indicator and often are behind the land real estate markets. As commodity inventory continues to hold strong, commodity markets are anemic and were depressed most of Those producers who are astute in marketing their commodities took advantage of the uptick in the markets this summer prior to harvest. Farmers continue to be aware of their fixed costs and targeting variable costs to cut overhead. What we experienced in 2017 are rental rates that continue to be volatile. We are seeing high demand for quality land, in turn holding rental rates strong. We are also seeing a tightening of available rentable acres which in turn holds rental rates at arbitrarily high levels. We expect to see these trends continue into 2018 even with depressed commodity markets. Mr. Hofland is a Sr. Land Manager with Pifer s Auction & Realty, and a member of the ND Chapter ASFMRA. Views and opinions expressed are those of Mr. Hofland. 7

8 Land Regions Of North Dakota 1. Red River Valley 2. Northeast 3. Northwest / North Central 4. Southwest 5. Southeast 8

9 Region 1 - Red River Valley The Red River Valley of North Dakota includes the counties of Cass, Grand Forks, Pembina, Richland, Traill, and Walsh. This geographic region extends from the Canadian border to the South Dakota line, and approximately 30 to 40 miles west of the Red River through most of the state. This former Lake Agassiz Basin has nearly level topography with drainage provided by shallow channeled streams and rivers. The lake plain soils are primarily rich and fertile clays and silty-clays derived from glacial erosion, and considered to be the most productive soils in North Dakota. The western, or outer areas of the lake basin, include delta and beach areas with fine-textured (sandy) sediments. 9

10 Red River Valley (Dry) Cropland Prices All Prices are Per Crop Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Cass (East) 49 $3,112 $5,549 $4,634 $4,516 Grand Forks (East) 23 $1,864 $5,675 $3,408 $3,200 Pembina 37 $1,577 $8,688 $3,791 $3,425 Richland 18 $2,027 $5,333 $3,810 $3,794 Traill 87 $1,299 $6,510 $4,038 $4,167 Walsh (East) 32 $1,562 $6,553 $3,027 $2,689 Pasture Prices All Prices are Per Pasture Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median All RRV Counties 9 $513 $1,750 $1,147 $1,101 *May include duplicates. Not a measure of pure market activity. Cash Rent Range All Rental Amounts are Per Acre Cropland Pasture County Low High Low High Cass (East) $75 $225 $20 $45 Grand Forks (East) $70 $210 $10 $30 Pembina $60 $200 $10 $40 Richland $75 $210 $15 $40 Traill $60 $200 $18 $25 Walsh (East) $60 $200 $10 $30 10

11 Region 2 Northeast Northeastern North Dakota includes the counties of Benson, Cavalier, Eddy, Foster, Griggs, Nelson, Ramsey, Steele, Towner, and Wells, along with the western part of both Walsh and Grand Forks County. The counties are located within the glaciated plains, or drift prairie, with mostly undulating topography, numerous closed depressions, and a few widely spaced streams. The land forms result from glacial thrusting resulting in large depressions marking plains and existing lakes, and from collapsed glacial topography resulting in washboard ridges and a large number of small eskers. This geographic region includes the Devil s Lake Basin. With rising water and no natural outlet, to date over 160,000 acres of agricultural land within the basin have been inundated. 11

12 Northeast (Dry) Cropland Prices All Prices are Per Crop Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Benson 12 $1,025 $1,987 $1,464 $1,535 Cavalier 32 $1,030 $6,076 $2,561 $2,265 Eddy 5 $960 $2,910 $1,528 $1,403 Foster 12 $1,233 $3,077 $1,888 $1,737 Grand Forks (W) 71 $912 $4,562 $2,688 $2,700 Griggs 28 $900 $3,139 $2,139 $2,195 Nelson 48 $750 $2,735 $1,512 $1,392 Ramsey 23 $1,151 $2,368 $1,662 $1,586 Steele 45 $1,607 $6,148 $3,575 $3,668 Towner 7 $1,075 $2,811 $1,708 $1,350 Walsh (West) 5 $750 $2,596 $1,926 $2,409 Wells 16 $955 $3,321 $2,247 $2,521 Pasture Prices All Prices are Per Pasture Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median All NE Counties 39 $371 $1,000 $657 $647 *May include duplicates. Not a measure of pure market activity. 12

13 Northeast Cash Rent Range All Rental Amounts are Per Acre Cropland Pasture County Low High Low High Benson $35 $80 $20 $40 Cavalier $50 $100 $20 $40 Eddy $50 $90 $18 $30 Foster $60 $120 $15 $30 Grand Forks (W) $35 $135 $20 $25 Griggs $30 $135 $15 $35 Nelson $35 $90 $15 $25 Ramsey $45 $100 $20 $30 Steele $65 $180 $15 $30 Towner $35 $130 $10 $25 Walsh (West) $50 $120 $20 $30 Wells $60 $105 $20 $45 13

14 Region 3 Northwest / North Central Northwestern and North Central North Dakota includes thirteen counties; Bottineau, Burke, Divide, McHenry, McKenzie, McLean, Mountrail, Pierce, Renville, Rolette, Sheridan, Ward, and Williams. This territory is physically described as the Drift Prairie, the Missouri Coteau, and the Missouri Slopes. The Drift Prairie extends diagonally from Northwestern to Southeastern North Dakota. The Drift Prairie is glaciated, appearing generally flat with washboard like undulations. The Missouri Coteau extends east from the Missouri River to the Continental Divide, or western edge of the glaciated land. The Missouri Slope's sandstone and shale layers were largely unaffected by glaciers. The area has an irregular topography with the occasional butte rising above the prairie landscape. 14

15 Northwest / North Central (Dry) Cropland Prices All Prices are Per Crop Acre Reported 2017 Range 2017 Statistics County Sales * Low High Mean Median Bottineau 11 $504 $2,000 $1,114 $1,075 Burke 8 $1,174 $1,431 $1,291 $1,293 Divide 8 $616 $1,921 $1,105 $1,072 McHenry 10 $1,495 $2,866 $2,095 $1,853 McKenzie 2 $525 $1,650 $1,088 $1,088 McLean 19 $1,300 $5,572 $3,099 $2,900 Mountrail 14 $748 $2,074 $1,320 $1,241 Pierce 7 $1,144 $1,894 $1,593 $1,637 Renville 9 $1,075 $2,255 $1,778 $1,763 Rolette 10 $1,650 $2,321 $2,071 $2,035 Sheridan 15 $1,150 $2,100 $1,637 $1,684 Ward 28 $932 $2,726 $2,115 $2,258 Williams 5 $1,429 $1,600 $1,491 $1,469 *May include duplicates. Not a measure of pure market activity. 15

16 Northwest / North Central Pasture Prices All Prices are Per Pasture Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Bottineau 2 $533 $750 $642 $642 Burke 1 $485 $485 $485 $485 Divide 1 $1,000 $1,000 $1,000 $1,000 McHenry 1 $948 $948 $948 $948 McKenzie 2 $525 $938 $732 $732 McLean 2 $581 $1,238 $910 $910 Mountrail 5 $407 $750 $585 $600 Pierce 2 $550 $750 $650 $650 Renville 1 $388 $388 $388 $388 Rolette 1 $506 $506 $506 $506 Sheridan 4 $708 $850 $786 $792 Ward 0 No Sales Reported No Sales Reported Williams 2 $483 $501 $492 $492 All Counties 24 $388 $1,238 $677 $600 *May include duplicates. Not a measure of pure market activity. 16

17 Northwest / North Central Cash Rent Range All Rental Amounts are Per Acre Cropland Pasture County Low High Low High Bottineau $20 $80 $10 $30 Burke $30 $52 $15 $30 Divide $38 $44 $10 $25 McHenry $35 $90 $20 $45 McKenzie $25 $50 $10 $25 McLean $22 $150 $10 $30 Mountrail $35 $75 $10 $30 Pierce $50 $90 $10 $30 Renville $35 $65 $15 $35 Rolette $30 $80 $10 $40 Sheridan $40 $65 $15 $30 Ward $30 $90 $20 $30 Williams $30 $50 $10 $25 17

18 Region 4 - Southwest Southwestern North Dakota includes the counties of Adams, Billings, Bowman, Dunn, Golden Valley, Grant, Hettinger, Mercer, Morton, Oliver, Sioux, Slope, and Stark. The southwest region of North Dakota extends from the Montana and South Dakota borders north and east to the Missouri River. This non-glaciated portion of ND is dominated by the Missouri Plateau and the Little Missouri Badlands. Topography varies from rolling to hilly plains to rugged, deeply eroded, hilly areas along the Little Missouri River. Agriculture is diversified between beef and small grain operations, with corn production increasing in recent years. Oil production is generally confined to Bowman, Slope, Golden Valley, Billings, Stark, and Dunn Counties. Lignite coal production occurs in Mercer and Oliver Counties. Wind energy developments are located in Oliver and Bowman Counties. 18

19 Southwest (Dry) Cropland Prices All Prices are Per Crop Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Adams 12 $876 $1,400 $1,159 $1,187 Billings/Golden Valley 5 $879 $1,700 $1,397 $1,394 Bowman 12 $625 $2,205 $1,203 $1,200 Dunn 14 $1,200 $2,533 $1,667 $1,665 Grant 16 $763 $2,526 $1,595 $1,584 Hettinger 5 $600 $1,576 $1,118 $1,082 Mercer 2 $1,309 $3,783 $2,546 $2,546 Morton 11 $1,229 $2,961 $1,947 $1,923 Oliver 5 $1,072 $2,849 $1,798 $1,609 Sioux 4 $1,002 $2,007 $1,496 $1,488 Slope 3 $1,007 $1,438 $1,290 $1,425 Stark 11 $1,136 $2,272 $1,738 $1,654 *May include duplicates. Not a measure of pure market activity. 19

20 Southwest Pasture Prices All Prices are Per Pasture Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Adams 6 $585 $800 $709 $702 Billings/Golden Valley 10 $491 $1,082 $670 $576 Bowman 12 $500 $913 $655 $631 Dunn 8 $517 $1,776 $981 $1,000 Grant 12 $763 $1,438 $1,008 $1,000 Hettinger 4 $800 $1,258 $940 $850 Mercer 6 $955 $1,584 $1,342 $1,484 Morton 9 $1,000 $2,000 $1,372 $1,300 Oliver 7 $772 $1,822 $1,108 $1,100 Sioux 2 $1,002 $1,100 $1,051 $1,051 Slope 3 $873 $1,281 $1,111 $1,179 Stark 5 $883 $1,136 $974 $900 All Counties 84 $491 $2,000 $964 $902 *May include duplicates. Not a measure of pure market activity. 20

21 Southwest Cash Rent Range All Rental Amounts are Per Acre Cropland Pasture County Low High Low High Adams $30 $65 $12 $30 Billings $25 $65 $10 $30 Bowman $23 $65 $15 $35 Dunn $29 $65 $20 $35 Golden Valley $25 $50 $15 $30 Grant $35 $65 $15 $35 Hettinger $35 $65 $15 $35 Mercer $25 $65 $15 $35 Morton $35 $75 $20 $45 Oliver $35 $75 $20 $45 Sioux $35 $65 $15 $35 Slope $30 $65 $15 $35 Stark $33 $75 $20 $40 21

22 Region 5 - Southeast Southeastern North Dakota includes the counties of Barnes, Burleigh, Dickey, Emmons, Kidder, LaMoure, Logan, McIntosh, Ransom, Sargent, and Stutsman, as well as Western Cass County. These counties include geographic regions described (from west to east) as the Missouri Slope, Missouri Coteau, and Drift Prairie. The Missouri Slope includes primarily glacial till soils, with a west boundary being sandy/gravely outwash. The Missouri Coteau is mostly rough and hilly with some outwash areas also present. The Drift Prairie includes primarily glacial till plains with most of the runoff draining into numerous closed depressions (also referred to as the Prairie Pothole Region). Irrigation is common, as this area includes some of North Dakota s largest aquifers. The majority of the pasture in this area is in the western counties. 22

23 Southeast (Dry) Cropland Prices All Prices are Per Crop Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Barnes 35 $2,000 $3,830 $3,006 $3,077 Burleigh 11 $1,095 $3,000 $1,878 $1,825 Cass (West) 41 $2,551 $5,276 $4,118 $4,107 Dickey 9 $2,031 $4,054 $3,193 $3,400 Emmons 8 $1,736 $3,612 $2,540 $2,381 Kidder 5 $1,100 $2,913 $1,713 $1,503 LaMoure 28 $1,785 $4,000 $3,141 $3,407 Logan 25 $800 $2,740 $1,745 $1,802 McIntosh 12 $1,952 $2,872 $2,312 $2,132 Ransom 15 $2,101 $4,190 $3,500 $3,491 Sargent 6 $3,000 $4,276 $3,700 $3,621 Stutsman 59 $1,100 $3,764 $2,417 $2,457 *May include duplicates. Not a measure of pure market activity. 23

24 Southeast Pasture Prices All Prices are Per Pasture Acre Reported 2017 Range 2017 Statistics County Sales* Low High Mean Median Barnes 5 $650 $1,000 $779 $762 Burleigh 7 $853 $1,700 $1,151 $1,102 Cass (West) 0 No Sales Reported No Sales Reported Dickey 2 $900 $1,000 $950 $950 Emmons 2 $1,000 $1,300 $1,150 $1,150 Kidder 11 $736 $1,500 $936 $874 LaMoure 1 $1,000 $1,000 $1,000 $1,000 Logan 21 $650 $1,447 $981 $950 McIntosh 2 $800 $1,000 $900 $900 Ransom 0 No Sales Reported No Sales Reported Sargent 1 $1,398 $1,398 $1,398 $1,398 Stutsman 10 $491 $1,111 $732 $775 All Counties 62 $491 $1,700 $945 $900 *May include duplicates. Not a measure of pure market activity. 24

25 Southeast Cash Rent Range All Rental Amounts are Per Acre Cropland Pasture County Low High Low High Barnes $50 $150 $15 $40 Burleigh $35 $75 $20 $45 Cass (West) $50 $176 $15 $30 Dickey $60 $165 $15 $65 Emmons $40 $125 $20 $45 Kidder $28 $70 $15 $30 LaMoure $50 $185 $15 $70 Logan $35 $90 $20 $45 McIntosh $40 $125 $15 $60 Ransom $65 $175 $15 $35 Sargent $70 $175 $15 $35 Stutsman $50 $135 $14 $40 25

26 Regional Cropland Trends (Regional Price Index per Acre) Regional Index* Red River Valley $3,785 $4,139 $4,500 $4,935 $5,211 $4,694 % Change -9% -8% -9% -5% 11% 42% Northeast $2,075 $2,019 $2,279 $2,539 $2,763 $2,221 % Change 3% -11% -10% -8% 24% 32% Northwest/Central $1,676 $1,710 $1,823 $1,854 $1,865 $1,583 % Change -2% -6% -2% -1% 18% 45% Southwest $1,579 $1,586 $1,739 $2,009 $1,715 $1,416 % Change 0% -9% -13% 17% 21% 37% Southeast $2,772 $2,841 $2,967 $3,313 $3,211 $2,737 % Change -2% -4% -10% 3% 17% 37% *The Regional Index gives equal weight to each reporting market area within the designated region 26

27 North Dakota Cropland Trend (State Price Index per Acre) State Index* $2,377 $2,459 $2,661 $2,930 $2,953 $2,530 % Change -3% -8% -9% -1% 17% 39% *The State Index gives equal weight to all 55 reporting market areas in ND 27

28 ND Chapter Directory 2017 Jeff Berg, ARA, ASA (218) Crown Appraisals, Inc. Appraisal 602 Front St. N Barnesville, MN jeffberg@crownappraisalsinc.com John Botsford, ARA-Retired Red River Land Company, LLC 3100 South Columbia Road Grand Forks, ND john@redriverlandco.com Roger Durensky, ARA (701) AgCountry FCS Appraisal PO Box 6020 Fargo, ND roger.durensky@agcountry.com Brian Field, ARA (218) Crown Appraisals Inc. Appraisal 602 Front Street North Barnesville, MN brianfield@crownappraisalsinc.com Andrew Gudajtes, ARA (701) Farmers National Company Appraisal PO Box 5088 Real Estate Sales Grand Forks, ND Ag Stock agudajtes@farmersnational.com David Hagert (701) AgriData Inc. PO Box 8372 Grand Forks, ND david@agridatainc.com A.J. Hammen (701) AgCountry FCS Appraisal nd Ave S Grand Forks, ND aj.hammen@agcountry.com Brad Haugen, ARA (701) Haugen Farm Realty, Inc. Real Estate Sales 3108 S Broadway, Suite 1 Appraisal Minot, ND brad@haugenfarmrealty.com Ryan Haugen (701) Haugen Farm Realty, Inc. Appraisal 3108 S Broadway, Suite 1 Real Estate Sales Minot, ND ryan@haugenfarmrealty.com Dwight Hofland, AFM/AAC (701) Pifer s Auction and Realty Farm Management th Ave South Ag Consulting Moorhead, MN dhofland@pifers.com Scott Huether (701) Farmers National Company Farm Management 6607 Highway 32 Real Estate Sales Lisbon, ND shuether@farmersnational.com Joe Ibach, MAI (701) Dakota Appraisal, Inc. Appraisal PO Box 1235 Bismarck, ND joe@dakotaappraisal.net James Ivers, AFM (701) Farmers National Company Farm Management PO Box 6001 Real Estate Sales Grand Forks, ND jivers@farmersnational.com Wade Iverson, MAI (701) Farm Credit Services of ND Appraisal PO Box 70 Minot, ND wade.iverson@farmcredit.com Megan Klosterman (218) Crown Appraisals Inc. Appraisal 602 Front Street North Barnesville, MN megank@crownappraisalsinc.com Tim Kreft, ARA (701) AgCountry FCS Appraisal PO Box 6020 Fargo, ND tim.kreft@agcountry.com Brie Leier, ARA (701) Farm Credit Services of ND Appraisal PO Box 70 Minot, ND brie.leier@farmcredit.com Terry Longtin, AFM (701) Farmers National Company Farm Management PO Box 5088 Grand Forks, ND tlongtin@farmersnational.com 28

29 Jayson Menke (701) Farmers National Company Farm Management PO Box 5088 Grand Forks, ND Guy Miller (218) Miller Realty, Inc. Real Estate Sales 522 Minnesota Ave Breckenridge, MN Jared Miller (218) Miller Realty, Inc. Real Estate Sales 522 Minnesota Ave Breckenridge, MN Kyle Nelson, ARA (701) Farmers National Company Appraisal st Ave S, Suite 101 Real Estate Sales Fargo, ND Farm Management Michael Norgaard, AFM (507) Northwestern Farm Management Co. 301 S O Connell St Farm Management Marshall, MN Real Estate Sales mike@nfmco.com Steve Olson (701) Olson Appraisals Appraisal 440 Olson Drive Mayville, ND solson440@gmail.com Charles Peterson, AFM (701) US Bank Farm Management 505 2nd Ave. N Fargo, ND charles.peterson3@usbank.com Brent Qualey, ARA (701) Farmers National Company Real Estate Sales PO Box Appraisal Fargo, ND Farm Management bqualey@farmersnational.com Sheila Ressler (701) Farm Credit Services of Mandan, ACA 1600 Old Red Trail Appraisal PO Box 649 Mandan, ND sheila.ressler@farmcredit.com Les Roos, ARA (701) Roos & Associates, Inc. Appraisal 1397 Library Circle, Suite 102 Real Estate Sales Grand Forks, ND lproos@roosusa.net Eric Skolness, AFM ALC (218) Farmers National Company Farm Management PO Box 234 Real Estate Sales Glyndon, MN eskolness@farmersnational.com Max Steffes (701) Steffes Group, Inc. Real Estate Sales 2000 Main Ave E Farm Management West Fargo, ND max.steffes@steffesgroup.com Rodney Steffes (701) Steffes Group, Inc. Farm Management 2000 Main Ave E Real Estate Sales West Fargo, ND rodney.steffes@steffesgroup.com Tim Terras, ARA (701) AgCountry FCS Appraisal PO Box 6020 Fargo, ND tim.terras@agcountry.com Kaitlyn Timian (701) AgCountry FCS Appraisal PO Box 6020 Fargo, ND kaitlyn.timian@agcountry.com Tim Timian, ARA (701) Timian Appraisal Service Appraisal AgriValley Insurance Crop Insurance PO Box 127 Arthur, ND ttimian@agvly.com Rodger Tinjum, ARA (218) Tinjum Appraisal Company Appraisal PO Box 1368 Detroit Lakes, MN rtinjum@arvig.net Steve Tomac, ARA-Retired th St St. Anthony, ND stevetomac@westriv.com Paul Vorachek, ARA (701) Vorachek Farm Appraisal Appraisal 214 Hill Avenue North Park River, ND paulv4445@yahoo.com Tyler J. Walsh, CPA (320) Crown Appraisals Inc. Appraisal 602 Front St N Barnesville, MN tylerw@crownappraisalsinc.com 29

30 Roy Wasche (701) Farmers National Company Farm Management PO Box 1623 Real Estate Sales Fargo, ND Nicholas Watson (701) Farmers National Company Farm Management PO Box 5088 Ag Stock Grand Forks, ND Shawn Weishaar, ARA (710) Weishaar Appraisal Services Appraisal st St NE Lemmon, SD Dale Weston, AFM (701) Farmers National Company Appraisal st Ave S, Suite 101 Real Estate Sales Fargo, ND Farm Management Chad Wigestrand, ARA (701) AgCountry FCS Appraisal nd Ave. S. Grand Forks, ND Chapter Sponsors AgCountry Farm Credit Services AgriData, Inc. American Federal Bank Bell State Bank Bremer Bank DuPont Pioneer Farm Credit Services of Mandan Farm Credit Services of ND Farmers National Company Haugen Farm Realty For a complete ASFMRA Member Directory, find a land expert at Professional Designation Guide AAC Accredited Agricultural Consultant ALC Accredited Land Consultant ARA Accredited Rural Appraiser AFM Accredited Farm Manager RPRA Real Property Review Appraiser MAI Member Appraisal Institute ASA = Accredited Senior Appraiser FRICS = Fellow Royal Institute of Chartered Surveyors J.R. Simplot Company Pifer s Auction and Realty Steffes Group United Valley Bank US Bank Wells Fargo Bank 30