This Friday September 29th, Coleman & Patterson will be offering 3 separate production farms at live multi-parcel auction. This is a unique event and a great way to bring buyers of farmland and rural land investors together to compete over several high quality tracts of land and arrive at a fair market value of the properties. The sellers, now in their mid 80's, have decided it's high time to turn their land holdings in to cash. With 3 farms to sell, the challenge must have been a little overwhelming, however, the Coleman & Patterson auction team was more than up for the task.
After meeting with the sellers and getting a better understanding of the situation and motivation to sell, Coleman & Patterson designed a custom marketing plan that would bring in buyers that are willing and able to purchase, not only from the communities surrounding the farms, but statewide and nationally. "Our goal is let the open market determine the price, with confidence that the buyers at the auction are a great representation of the marketplace", said Tom Patterson, Director of Marketing. After only 4 quick weeks of auction marketing, Coleman & Patterson has directed over 9300 auction detail page visits for this auction found at www.multiparauction.com. Bidders have requested more than 50 information packets, and dozens have actually previewed the farms prior to auction day.
"The sale is more than a business transaction, it's a great way to bring the community together and have some fun with a live auction event", said Bret Richards, Auctioneer & Director of Operations with Coleman & Patterson. The event, held at the Marak Parish Hall in Buckholts, TX is Friday Sept 19th, registration opens at 9am, auction begins at 10am. The order of sale will be 388 acre Falls County selling 1st, then the 615 acre farm next, and 280 acre farm north of Cameron will sell last. BBQ lunch plates will be offered to registered buyers and their families beginning at 11am.
Farmers in the area are feeling more optimistic this year with good crop yields. Corn on the Falls County farm yielded 127 bushels per acre while the Milam county farm yielded 120 bushels per acre. Early reports on cotton are estimating between 2-4 bales per acre on the Milam county farms, depending on the location. In recent years, there have been few marketed farmland sales in or near these farms. The bidding will open at around $1,000 per acre and go up from there. It will be interesting to see what the final outcome will be, join us and find out!
United Country Real Estate - Coleman & Patterson
Coleman & Patterson is a diversified real estate and auction marketing company (DREAM) with a niche in selling farm & ranch real estate, country homes, and recreational land for sale in Texas. We call it “Lifestyle Real Estate”, because owners care more about living the lifestyle they always dreamed about than other factors. Property types we excel in marketing for clients include luxury homes, golf course homes, new builder homes, premier country homes, small acreages, farms, ranches, recreational land, development land/lots and commercial property in Texas. With offices in College Station, Madisonville, Bastrop, and Ft. Worth, Coleman & Patterson is uniquely qualified to serve buyers and sellers of rural properties throughout the state.