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Farm land in Kern is down, but don’t fret

 •  by Lois Henry
This article is originally from The Bakersfield Californian.

Agricultural land values in the Central Valley, and Kern County, have slipped a bit but most analysts aren’t worried about a major drop.

Though water will become a larger question mark in coming years.

For now, analysts are looking at the recent dip in values as more of a “breather” from the meteoric rates at which ag land values shot up between 2010 and 2015.

Does that mean high values are a bubble?

No, said Roland Fumasi, an analyst with Rabobank’s Fresno-based RaboResearch Food & Agribusiness division.

“Because prices are supported by economic reasons,” he said.

Those economic reasons — high demand for Kern’s produce — are still in place, which is why Fumasi and others aren’t predicting a steep drop in land values through the end of 2017.

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