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Published November 29, 2013, 04:19 PM

Investors and farmers paying high prices for land

Investors and farmers are paying a pretty penny for acres. Vince Bitz has been selling land since the 70s. He says he's never seen land at these prices. He says Bitz Realty recently sold some cropland for more than $3,000 an acre.

Investors and farmers are paying a pretty penny for acres. Vince Bitz has been selling land since the 70s. He says he's never seen land at these prices. He says Bitz Realty recently sold some cropland for more than $3,000 an acre.

An acre of pasture is bringing a thousand dollars or more.

Vince Bitz, of Bitz Realty said, "When you look from a producer's side I don't think it can go much higher. I think it probably has topped out. But, the investor who has a lot of money in his pocket, says ya know, I am going to diversify and own some land because it will always be there. We are seeing some really high cropland prices."

Last year National Farmers Company sold cropland in the Red River Valley for $10,000 an acre.

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