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South Carolina farmland purchases on the rise for 1 partnership

As a land or homeowner in South Carolina, real estate matters to you. Knowing how the economy is changing and the fluctuation in prices can be a help, especially if you want to expand your business or land area.

If you're interested in South Carolinian real estate growth, then you might be interested in the fact that Farmland Partners has obtained a significant amount of property in South Carolina. The company announced that it had extra money for investing through 2015, and it wants to purchase land when possible.

The investment group, which is based in Colorado, has purchased seven row crop farms in South Carolina. The purchase totaled $27.5 million and 6,819 acres, bringing revenue into the economy. Additionally, the group has purchased a 1,300-acre farm in Arkansas to add to its portfolio, strengthening its assets.

If it seems like an odd time to buy due to generally recessive times in the United States, that may just be why it is better to buy now than later. In general, poor economies have meant that U.S. farmland prices have been lower than usual, and Iowa State University has shown that in its state alone, farm prices fell by 8.9 percent to just $7,943 per acre. That's a major drop; in fact, it's the largest drop in the last 28 years. This dip in prices means that companies can buy more land and expand their businesses, making them viable over larger areas.

Transactions like these are complicated legally, and as with any real estate transaction, legal advice is sometimes needed to help develop contracts or to negotiate a price. If you're interested in making a purchase, consider looking into assistance to help you do so and to make the right choice for your present and future.

Source: AgriMoney, "Farmland Partners secures firepower for 2015 land purchases" Dec. 23, 2014

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