The auction will be held at the Grand Falls Casino Resort in Larchwood, Iowa and attendance is expected to be in the thousands. The auction will be available online for live-real time bidding as well. Auctioneer and owner of MAC Auctions, Craig Olson, has been involved in auctioning real estate world-wide for over twenty-five years, but this is the first time he has brought an auction of this size to the area. The auction begins at 6:30, and is preceded by a social hour at 5:30. "It's a totally new marketing concept to this area, and we are honored to be a part of Midwest history," states Olson. "We are catching this area up with cities like LA, New York and Boston, and with the power of online bidding we're bringing the local auction industry into the 21st century. It's no longer about keeping up with the Joneses, but keeping up with the Jetsons."
Over the past few years, the price of Iowa farmland has more than doubled leading some to believe that Midwestern farmland is in a bubble; but according to Mr. Olson, the land boom is based on economic fundamentals and isn't a bubble. Low interest rates, high corn and oil prices all play a big part in the Iowa land boom, and even at the current prices, good farmland yields a return of about 4% a year. "With the current prices of farmland, we have had an overwhelming demand from our clientele that wants to sell property. I've successfully been a part of these types of auctions around the world and thought that it was time. The Midwest is ready for this type of sale."
Recently, national news was made when record prices were set for Iowa farmland. Will we see those types of prices on February 9th? "Absolutely,"
Craig Olson is the owner and Auctioneer of MAC Auctions, a premiere full-service auction company specializing in agricultural and construction equipment and real estate sales.
Contact:
Craig Olson
craig@bidmacauctions.com
1688 Highway 9 PO Box 158
Larchwood, Iowa
Ph: 605-951-1301
http://www.bidmacauctions.com
