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Indiana, Illinois Land Sells For $6.57 Million In Auction
SULLIVAN, Ind., June 21, 2013 /PRNewswire/ — The auction of 1,035 acres of Indiana and Illinois farmland drew a standing-room-only crowd of approximately 250 people Tuesday, resulting in active bidding and strong prices. Most of the tillable cropland sold to investors at prices reaching $8,373 per acre in the auction, which was managed by Schrader Real Estate and Auction Company and Murray Wise Associates. “Farmers and investors alike were actively bidding, and during the past few months, farmers have been prevailing. But in this case, most of the cropland went to the investors,” said Gene Klingaman, executive vice president of Schrader. “This exceeded our expectations and demonstrates what we’ve been seeing for quite a while now — that demand for farmland remains high among investors and farmers alike,” he said. Joe Bubon, executive vice president of Murray Wise Associates, agreed. “There isn’t a lot of supply of available farmland, so a property like this one that is more than 80 percent tillable is very attractive. I think we’ll continue to see strong farmland prices, because there really aren’t a lot of alternatives that combine the return and stability, especially with the recent volatility in stocks and bonds.” The auction was held at the Sullivan County 4-H Fair Grounds Exhibit Building. Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a leading auctioneer of agricultural land throughout the United States. Individuals seeking additional information about the firm and its auctions may visit www.schraderauction.com or call 800-451-2709. Murray Wise Associates, based in Champaign, Ill., is a leading auctioneer of farms and ranches throughout the United States. Individuals seeking additional information may visit www.murraywiseassociates.com or call 800-607-6888. For more information: Carl Carter, 205-823-3273 SOURCE Schrader Real Estate and Auction Company /Web site: http://www.schraderauction.com Continue reading
Alchemy — Turning Plants Into Fuel
Sean Nealon, UC Riverside A new book focuses on aqueous processing of cellulosic biomass, which includes wood, grasses, and agricultural and forestry residues, for conversion into fuel A University of California, Riverside professor in the Chemical and Environmental Engineering Department edited a recently published book that provides in-depth information on aqueous processing of cellulosic biomass, which includes wood, grasses, and agricultural and forestry residues, for conversion into fuels. Charles Wyman, who also holds the Ford Motor Company Chair in Environmental Engineering in the Center for Environmental Research and Technology (CE-CERT) of the UC Riverside Bourns College of Engineering, led the development of the book “ Aqueous Pretreatment of Plant Biomass for Biological and Chemical Conversion to Fuels and Chemicals .” The book, published by John Wiley & Sons, contains 23 chapters written by experts from throughout the country. Charles Wyman’s passion for renewable energy was first expressed through a junior high school science fair project focused on solar energy storage. It grew as he earned a Ph.D. in chemical engineering at Princeton, became a leader in biomass conversion at the Solar Energy Research Institute, now known as the National Renewable Energy Laboratory, and as an endowed professor at Dartmouth College. In 1996, during his tenure at National Renewable Energy Laboratory, he edited the book Handbook on Bioethanol: Production and Utilization. He also co-founded Mascoma Corporation, a startup company focused on advanced technology for biomass conversion to ethanol, in 2005. The just-published book focuses on aqueous pretreatment of cellulosic biomass to promote sugar release for biological, catalytic, or thermochemical conversion into fuels and chemicals. Introductory chapters provide the rationale for converting biomass to fuels; its importance to national security, balance of trade, and the environment; and insights into biological and catalytic processing to fuels. Also included are in-depth information on the chemistry and biology of cellulosic biomass, leading pretreatments to facilitate its biological and chemical conversion to sugars, and methods important to assess the effectiveness of biomass conversion technologies. In recent decades, interest in converting cellulosic biomass to fuels has closely tracked the price of petroleum: support jumps when petroleum prices are high and wanes when prices drop. “That creates a big challenge,” Wyman said. “The volatility of oil prices and associated enthusiasm for alternatives results in a very unstable environment in which to build a business.” Yet, cellulosic biomass conversion has unique and powerful benefits. It has the potential to substantially reduce greenhouse gas emissions and imported petroleum dependence andis widely available and inexpensive. For example, cellulosic biomass costing $60 per dry ton has about the same cost per energy content as petroleum at about $20 per barrel. “The challenge is, and has always been, reducing the cost of breaking down cellulosic biomass into sugars and other fuel precursors that can be converted into products, and aqueous pretreatment plays a pivotal role for leading biological, catalytic, and thermochemical routes” Wyman said. Continue reading
US Property Prices Still Historically Low
Axis Property Investment, a firm located in the United Kingdom (U.K.), is telling clients that now is the time to invest in U.S. property provided the historically low interest rates and property bargains. The firm quotes rates as low as 3.6% for 30-year mortgages, which it says are even lower than what they were in the 1950s. Experts there warn, however, that buying property in the U.S. is different from buying in the U.K., particularly when it comes to pricing and the warranties that come with the home. Buyers are advised to do thorough research before jumping into any foreign market. For more on this continue reading the following article from Property Wire . A 30 year fixed mortgage currently costs as little as 3.6% in interest to service each year and this has made houses more affordable and driven a big rise both in mortgage applications and in refinancing to cheaper deals, experts claim. For those considering property investment in the US, the climate is favorable and hotting up. Low, but rising prices and increasing average rental rates make it possible to achieve much better yields than in the UK, says Axis Property Investment. It also points out that rental vacancies are now at their lowest levels in over a decade, while the homeowner vacancy rate is at its lowest point since March 2006. Selected regions in the US can easily give a rental yield of well above 5%. It points out that properties are often sold as seen and you can be taking on a property with associated problems either in terms of the fabric of the building or debts linked to the address which may be passed onto the new owner. It believes that more research needs to be done into prices before buying as property valuation in the US is different. Other issues worth checking if you are renting out the property is where there is a tenant before you buy. ‘A pre-tenanted property means there will be no initial void period and your income stream will start to flow into your account. Furthermore, there is also associated hassle and stress with an empty property such as the chance of vandalism, or the higher insurance premiums you may have to pay for an empty unit,’ the report says. The firm also recommends that overseas buyers commission an independent property inspection report and for investors to have a realistic exit strategy. ‘We are currently at the bottom of the US property cycle just at the point where prices are starting to rise. In order to derive the greatest overall returns, you should be looking to sell at the top of the cycle and this will take some time to arrive, maybe even a decade from now,’ it says. Continue reading
