The people's voice., 1941-08-13
Market
FOR FARMS
IMPROVING

The farm real estate market has
shown such an Improvement during
the past year that for the first time
since 1884 the federal land banks are
holding less than one hundred million
dollars worth of farms-most of
which they have had to take over
during the last seven years, the o. s.
department of agriculture reported to-
day.
approximately one-fourth of all
properties the banks had for sale dur
ing the first half of this year We're
sold, compared with 81 per cent for
the corresponding period in 1910. Real
estate sales have shown particularly
marked increases in those areas
where the holding have been largest
for the past several years This"
said A. G. Black, governor of the
farm credit administration, reflects
the Improvement which has taken
place in general agricultural condi-
tions in many parts of the Great
Plains. Increases in business are
notable in the Baltimore, Louisville,
st. Paul, Omaha, Wichita Barkeley
and Spokane farm credit districts"
An increase in farm sales also was
reported by the Federal Farm Mort
gage Corporation for which the fed
eral land banks have handled first
and second mortgages during the past
eight years.
Farms held by the federal land
banks either outright or subject to
redemption at mid-year totalled 49,,
799, or 19 per cent less than holdings
a year ago. The number of farms
now held is less than at any time
since 1882. All banks, with the ex-
ception of Columbia, Is. CO., now
hold fewer properties than they did
year ago, and reductions exceeding
one-third are reported from Louis
vile, ST. Louis, Houston, Barkeley,
and Spokane
"Sales by the federal land banks |
and the Federal Farm Mortgage Cor
poration," commented vernon
Black, do not reflect price boom |
but do show an active demand in |
iidhJ Pdilo VI lHC OAlttQ oldlt0 uC |
and banks try to sell properties to
onest-to-goodness farmers, and in re-
cent years they have paid particular
attention to sales to farm tenants,
with the result that last year about |
half the farms sold were to such
a considerable increase over
he two preceding years. About 16
per cent of the sales in 1910 were
o tenants who had been placed on
he farms awaiting sale.
Perhaps the most striking increase
n farm sales was in the eighth farm
,ank and Federal Farm Mortgage
sales the first half of this
rear were 1859 compared to GAG for
he similar period year earlier. Rec
,rds of sales in June in this terri
ory-which includes Iowa, South Da-
lota, Nebraska, and Wyoming, just
'eceived-were about five times as
great as those of June 1910.
Another indication of an improved
arm real estate market is found in
he appraised value of farms upon
which loans have recently been made,
with the so-called normal"
agricultural values. The record shows
hat during the past year the ap-
praised market value is only about
of the properties appraised
vas less than their so-called normal
agricultural value change Of
lbout per cent compared with the
year previous.
Governor Black pointed to another
of improved agricultural
namely, the decrease in
he number of foreclosures completed
)y the federal land banks. During
he year closed June 80, 1941, they
otalled 3,044, a decrease of 40 per
,ent from year earlier.