The Company provides agricultural real estate and rural housing mortgage loans to increase the availability of long-term credit at stable interest rates to American farmers, ranchers and rural homeowners.
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1. AGM primarily involved with lending and financing to small family owned agriculture farms/ranches. This real estate has been "fairly valued" and not subject to the same over valuations of residential and commercial concerns. There is a fixed amount of agricultural use land which keeps the values more in line with valuations. In other words there should not be a disrupting amount of land coming up for sale at any time during the normal course of economic events.
2. The repeal of the federal estate tax for 2010 offers a temprary relief which could become permanent. The capital gains tax is not a concern until a sale occurs. Without an estate tax there will be one less potential problem for the farm or ranch owner. Going to a value added or consumption tax will the situation even better for lenders and borrowers because farmers and ranchers produce much of what others will be taxes on. This leads to economic stability.
3. Performing loans, low interest rates and proper valuations continue to make this a top pick.