Factors affecting selling prices of land in the Eleventh Federal Farm Loan District

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Introduction

Farm land valuation is a subject which is of interest to farmers; to other buyers and sellers of land; to the accountant who would apportion costs and income among the factors of production; to the mortgage holder; to the tax assessor; to the economist studying problems of land utilization, farm organization or agricultural relief; to the congressman who would improve our public land policies; to the chamber of commerce interested in regional planning; and to the farm real estate broker whose living depends upon his knowledge of values. “At the outset let it be understood that the subject of land valuation is little explored. Economists and real estate appraisers are still feeling their way toward guiding principles.”3 Before it is possible to place reliable principles and methods of appraisal in the hands of practical minded appraisers, farmers and real estate dealers, it is necessary to develop fundamental truths regarding land valuation. To make possible the proper interpretation of the great unorganized mass of knowledge pertaining to the subject, it is necessary to use methods which have been developed by economists and statisticians.