—Lancaster Farming, Saturday. August 5,1978
24
Realtors claim steady
WASHINGTON, D.C. - and governmental policies tinusm about investment in
Despite high costs, the un- and regulations, there still is raw land, says the National
certainty of profit prospects a general attitude of op- Association of Realtors,
Dauphin Co. pig roast held
0
KS J
Members of the Upper Dauphin County Beef and Pork Club held a pig roast
last Sunday, cooking a 100 lb animal for the event Don Sunday, here seen on
the right, supervised the roast, getting some help from host Jim Fair on the left,
and Merrill Crone, from the York Co Extension Service. The pig was donated by
the Sweigard’s, of Halifax R 3 Over 50 people attended the event
WAYNE FEEDS
WHITE OAK MILL
Cr TOM GOOD
Member of the Manheim Central FFA Chapter on
having the Grand Champion Flog at the 16th
Annual Lancaster County FFA Market Hog Show
and Sale.
AND
RD #5, MANHEIM, PA
r
rsJS
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iasra
LSIIiS
demand for raw land
The association’s
Department of Economics
and Research reports in its
annual Spring market
survey that the demand for
finished lots and acreage
with utilities available is
strong, and is expected to
contmue strong with land
prices outstripping the rate
of inflation.
Complex zoning or
dinances, slow- or no-growth
policies, and environmental
regulations have not
lessened the demand for
land, the report indicates
The survey is based upon
responses from a panel of
realtors across the nation
who specialize in the sale of
non-farm land.
Risks involved in invest
ment in raw land for some
time have led traditional
lenders to be wary of
financing these purchases
And, in today’s tight mor
tgage credit market, lenders
are even less willing to make
land loans Forty-five per
cent of the respondents
described land investment
credit as “tight” and 14 per
cent said it was not
available
In view of the reluctance of
conventional sources for
credit, the report says,
financing by the seller is
often the answer to land
purchase funding
Although the seller has to
settle for a mortgage rather
than cash, he can offer a
greater flexibility in con
ditions of the transaction A
higher loan-to-value ratio
may be presented, and lower
interest rates and longer
mortgage terms may be
WAYNE
ANIMAL
HEALTH
AIDS
o*® BAI %
* KERRY BOYD
Member of the Cloisters FFA Chapter, Ephrata,
Pa. on having the Reserve Champion Hog at the
16th Annual Lancaster County FFA Market Hog
Show And Sale.
negotiated than with an
institutional lender
Additionally, the realtor
economists point out, the
seller can minimize his tax
liability by qualifying the
transaction as an in
stallment contract
Despite mortgage credit
obstacles to land sales, the
demand for residential
development land is strong,
although it vanes with
location and zoning
requirements, the report
says. Eight-one per cent of
the respondents reported a
substantial or moderate in
crease in the demand for
such land from a year ago
An increase in demand for
commercial sites was
claimed by 70 per cent Land
destined for industrial
development, recreational
use or held for speculation
showed a lesser increase in
demand, with from 41 to 48
per cent of the areas sur
veyed indicating an in
crease
The volume of land
transactions this Spring in
all categories was holding up
well, the report notes, with
nearly three-quarters of the
respondents reporting that
residential site sales were up
either moderately or sub
stantially
Nearly two-thirds said the
same for commercial sites,
and more than 40 per cent
indicated increases in land
transfers for industrial,
speculative and recreational
sites In none of the
categories did more than 11
per cent report a decline in
sales
Price increases reflected a
WAYNE FEEDS
DUTCHMAN FEED
MILL INC.
RD#l, STEVENS, PA
similar pattern, the report
says, with residential land
prices up about 12 per cent,
commercial sites up 9 per
cent and the other categories
showing about a 6 per cent
increase.
Bergland will visit
Communist China
WASHINGTON, DC. -
Secretary of Agriculture
Robert Bergland has ac
cepted an invitation to visit
Communist China in Oc
tober, and said he would
discuss export possibilities
with Chinese leaders
SCENIC ROAD
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