The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-08-26
UPWARD TREND Of LATAH
FARM VALUES WILL CONTINUE

So much interest has been recently
manifested in the present and future
of land values in Latah county that
the Star Mirror has endeavored to OBJ
tain a symposium of views in regard
! to developments here These opinions
are those of men prominently identifi-
ed with land matters for number of
years, most of them leading real
estate dealers in this city.
The wonderful record which the
farm land in this region has made in
producing crops above the average
in spite of the long dry season, has
had the effect of stimulating rather
than depressing land values. 1t is
generally conceded that altho the
sales slowed up appreciably during
the month of July, the threshing re-
ports of the past few days have over
come any retardation in activity.
If any resident doubts that he lives
in an extremely favored region, he
should ponder the following state
ments.
Fred Veatch, who has been estab-
lished in the real estate business here
for the past thirty years and who is
famous for his conservative opinions
has this to say about the future:
"Altho land has been moving rather
slowly this midsummer, | have not
observed any depression whatever in
the market price. / look for the wild
time in the real estate movement to
come next spring. This fall the farm
ers who sold out for $400 and better
an acre in Iowa and other middle
western states, will be too busy to
look for a new location. But next
spring they will be in here in great
| predict. | believe we will
see tremendous rate of sales at good
prices, and the purchasers will be ex-
perienced farmers anxious to secure
cheaper lands than they had back
home. When l came here land was
selling at $40 an acre, good improved |
farm land, too Now the average |
price is $100 an acre, and | think the |
best land easily reaches $3.50 an |
acre. In addition to that, the farmers
in this vicinity may increase their
holdings for they will surely have a
oarrel of money to invest in something
this fall. In the next two years, |
believe our best farm land will go to
5000 an acre. l consider that land is
an admirable investment right now"
E. E. Ostroot, who has had an office
1ere for the past fourteen years, stat
I'd that the average price of excellent
'arm land when he came here ranged
rom $40 to $45 an acre. "The figures
1T which we sell now run all the way
rom $1O0 to $40. Before the snow
lies, I believe that land will advance
rom ten to fifteen dollars per acre !
more. 5000 will be cheap for Palouse
and in the very near future. | be-
ieve that our buyers will come mostly
rom near home. The drouth has not
lurt US, because the people who live
lere realize what the remarkably
leavy soil here can endure in the way
# punishment and still bring forth a
,ery profitable crop. do not think
hat any reduction in the price of
arm products will have any effect in
owering the prices of lands here
bouts. For the crops and prices to-
ay represent profitable investment
n land that sells for $400 an acre.
he lands sold now are not being. sold
n the strength of So wheat. They
re being sold on the strength of the
that they will produce fine
aturns when bought at $3.50 an acre,
VCll WllSll PllSCo dlO&FSiy wv. i'e'tiN
an exceedingly good investment,
nd there will be no slump at all un
ss there should be brief one in
ase industrial conditions get to the
point"
Mayor j. G. Gibson, retired farm
:, comments as follows: II have been
lmiliar with this country for 40 q
ears. Land at that time sold up to y
ZOO an acre. The average price of =
nd would be about $110 an acre at I
resent. l think it will go some high .
;, but not much. | think it will easel 4
f little inside of five years. Farm .
'oducts will decrease in a few a
onths. think land will increase
lring the next few months. I think j,
w buyers will come from all over &
e country, especially the East" h
c. E. Lewis, comparative new
mer in Moscow said: 81 have been
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