Granular, a company that provides leading farm management software and analytical tools, announced the launch of the new version of its farmland analysis site, AcreValue. This latest release includes a significantly expanded geographic coverage area and several new management and analytical features.
AcreValue is a free site used by farmers, landowners, investors, bankers, brokers and other industry professionals to analyze the value and productive capacity of farmland. Subscribers to Granular's farm management software will also have exclusive access to a number of power-user features.
The latest version of AcreValue expands coverage from its three original states (Iowa, Illinois and Indiana) to 46 states1. The site now includes soil maps, production history, and an experience optimized for mobile.
"Among professional farmers who use Granular, the talk is all about how to expand by finding the right land at the right price, said Tamar Tashjian, General Manager of AcreValue. "We will provide our farmers with the tools to see how adding land will affect the efficiency and profitability of their specific operation and therefore what they should pay to lease or purchase it. At the same time, we are providing the whole agriculture industry with a single convenient and free site to access all publicly available farmland data.
One of AcreValue's most important features is its Automated Valuation Model (AVM), the first AVM specifically built for the agriculture industry. AcreValue's AVM analyzes terabytes of data about soil, climate, crop rotation, taxes, interest rates, comparable land sales and crop prices to automatically estimate the value of each piece of farmland. AVM is common in commercial and residential real estate markets (for example, used in the home value estimates from Zillow).
"Models can never fully predict what a given parcel of land will trade for because they can't know supply and demand dynamics in advance, said Chris Seifert, lead Data Scientist on AcreValue. "However, professionals in the market can use the estimates from our AVM as an unbiased starting point for their own analysis and negotiations, and to easily compare the characteristics of different parcels of land.
In addition to valuation estimates, the latest version of AcreValue also includes:
- Soil data: Simply click on a field to view its average productivity rating (CSR2 in Iowa, PI in Illinois and NCCPI in all other states). Download a free soil report for a detailed map of soil composition by both type and productivity rating for that specific field.
- Production history: Instantly view the last five years of crop rotation on every field.
- Mobile: Quickly access farmland data on the go with a mobile-optimized site.
"As professional farmland investors, we spend a lot of time collecting and analyzing data from all the publicly available sources, said Eric O'Brien, Co-Founder and Managing Director at Fall Line Capital. "Prior to AcreValue, we would spend countless hours aggregating data from various sources. Now, AcreValue automatically generates that information and brings that data together in one place. AcreValue's Data Science team is changing the way we make decisions, and the analysis tools they are developing have the potential to help the whole market operate more efficiently.
For more information on AcreValue and farmland valuation, visit www.acrevalue.com.