Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 2 · column 3 of 9 · from the scan, no model involved
Farm Real Estate
StiD Going Up Sales of farm property - and the cost of that property - are still going up in Virginia. Agricultural economists at Virginia Polytechnic’ Institute report that voluntary sales of farm property in the state rose about' 11 percent during the past year. Partly as a result of this increased activity, the average value of land and buildings rose $11 per acre. These trends are expected to continue during the next year, with both sales and value increasing 3 to 5 percent. The average value of farm land and buildings stands at around $15$ per acre, the highest on record and double the value reported in 1947-49. On March 1, the average value of land and buildings per farm was $23,565 - $13,458 in land and $10,107 in buildings. Since 1959, the average investment per farm in real estate has increased $4,930. An increase in the average size of farms accountsfor part of the rise. Several factors have contributed to the rise in farm land values. Throughout most of the state, farmers have bid strongly for land in order to expand their existing holdings. The proportion of farm land sales bought to enlarge farms has doubled since 1950.
79.5%