Page 8-B
Farming Tips Little Increase In Land Values
By Dr. J.W. Pou
Folks say land prices have
“gone out of sight” in recent
years. But a new study by an
extension economist at
North Carolina State
University shows that, with
the \ inflation factor
removed, land values in
creased very little over the
past 10 years.
Economist Leon E.
"Danielson said the nominal
value (that is, the value
expressed in current dollars
from year to year) of Tar
Heel farm land increased an
average of 14.8 per cent
annually between 1972 and
1981.
But after adjustment for
inflation as measured by the
Consumer Price Index
(CPD, Danielson said, the
real rate of increase
averaged only 5.2 per cent a
year.
In fact, in four of the past
10 years, the rate of increase
in the CPI exceeded the rate
of increase in North
Carolina land prices.
Nationally, in every year
except one (1980-81) during
the past decade, land values
increased more rapidly than
did inflation.
From $3% per acre in
1972, North Carolina land
prices rose by 1981 to $1,331
in nominal terms but only
$626 when adjusted for in
flation as measured by the
CPI.
During periods of inflation
when dollars are losing
value, people historically
have benefitted from
keeping their money in real
assets (land, precious
metals, antiques) rather
rmnn
I MACHINE I
I REPAIR I
■ Take Your Machine To B
■ JAY’S CLOTHING!
■ 1111 N. Oakum St. ■
■ Edenton I
I 482-3700 I
I Guy Toppin, past ■
I owner of ■
| Clip-N-Stitch I
FOR SALE
FOR SALE—I 979 Conner Mobile Home. 2 BR. Total electric,
partially furnished. Small downpayment and assume loan.
WATERFRONT Charmina story house on two
waterfront lot, Chowan with pier. Three
bedrooms, 2 full bath: kit., closed-in porch
overlooking water, work Tor handyman. House furnished
or unfurnished.
1978 DOUBLE WIDE — On large corner lot with 3 bedrooms,
living room, family room, kit., 2 fujl baths. Dining room.
Underpinned washer, dryer, living room furniture, furnished.
Financing available at 14 percent.
LOT ON WEST GALE STREET Close to downtown,
churches, hospital, and school. Perfect for building.
LOT CORNER OF PARK AVE. AND JOHNSON ST.
Priced fo r quick sale.
LOT ON MONTPELIER DRIVE Reduced for quick sale -
100x200 $3,900
COMMERCIAL BUILDING — Income producing downtown
Edenton. Good long-term investment, tax shelter.
COMMERCIAL PROPERTY ACROSS FROM SHOPPING
CENTER Excellent investment, income producing.
HOME SITES NEAR COUNTRY CLUB Wooded and
clear. Low downpayment - 5 yrs. to pay.
TRAILER LOTS 5O x 150.
FOR SALE 23.22 acres, 5 miles north of Edenton, In
tersection of U.S. 17 and N.C. 37. Ideal for commercial or in
dustrial use.
WATERFRONT LOT On Chowan Golf and Country Club.
Breathtaking view of Albemarle Sound.
•/
OVER 25 YEARS EXPERIENCE IN ALL KINDS OF IN
VESTMENTS. CALL US BEFORE YOU BUY. CONSULT
WITH US BEFORE YOU LIST FOR SALE.
Home Realty
482-2153 Days 482-2375 Nights
than currency, bank ac
counts and similar money
investments.
From 1940 to 1979, U.S.
price inflation averaged 4.S
per cent a year. During this
period, Danielson said,
investment in farmland was
generally a better hedge
against inflation than
stocks.
Returns to farmland have
exceeded inflation in all
decades since 1940, whereas
returns to common stocks
lagged behind inflation in
the 1970’5, the NCSU
economist said.
Danielson conducted a
mail survey of the North
Carolina rural real estate
market in 1980. Information
was obtained from several
hundred brokers, real estate
agents, appraisers, bankers
and others knowledgeable
about farmland sales.
The persons surveyed
were asked to estimate land
values in their areas and to
submit information on
actual farmland sales from
October 1979 through March
1980.
Respondents estimated
that 34 per cent of all farm
land sold statewide was
for nonfarm use.
Relative to most of the
United States, Danielson
said, rural North Carolina
contains a high density of
population, a high per
centage of nonfarm
residents and a large
amount of industry.
As a result, he said,
farmland values are heavily
influenced by nonfarm
potential in nearly every
county of the state.
In the survey, 51 per cent
of respondents indicated
that nonfarm uses of land
were the primary deter
minant of farmland values
in their county. The other 49
per cent felt agricultural
uses were the primary in
fluence.
Data from the survey
show that nonfarm in
fluences of farmland prices
are strongest in the pied
mont and mountain regions
of the state and agricultural
influences are dominant in
the coastal region, the
economist said.
The persons surveyed
were asked to indicate the
specific nonfarm use having
the greatest impact on land
value.
The factors cited moat
often were: rural
development - home sites,
by 41 per cent of respon
dents; and recreation or
vacation homes, by 18 per
cent of those replying.
Os the tracts sold for
nonfarm purposes, 49 per
cent was primarily forest, 20
per cent was idle, 12.9 per
cent was primarily cropland
and 8.3 per cent was
primarily in pasture.
Operating farmers pur
chased most of the land that
remained in farming.
Hometown
News
Weymount A. Drew, son of
Virginia L. Drew, of 106
Blades St., Edenton, has
been promoted in the U.S.
Air Force to the rank of staff
sergeant.
Drew is an administration
specialist with the 3rd
Combat Communications
Group at Tinker Air Force
Base, Okla.
Tech. Sgt. Rodney V.
Saunders, son of Eunice J.
Saunders, Route 1, Tyner,
has arrived for duty at Osan
Air Base, South Korea.
Saunders, an imagery
interpretation technician
with the 6th Tactical In
teligence Group, was I
previously assigned at Pope
Air Force Base.
His wife, Carolyn, is the
daughter of Essie Uzzell of
1032A Lincoln Drive,
Goldsboro.
Spec. 4 Larry N. Fain, son
of Charlie Fain, Jr., Route 1,
Tyner, has completed a
wire-guided missile system
repair course at the U.S.
Army Missile and Munitions
Center and School, Redstone
Arsenal, Ala.
Students learned to in
spect, test, and perform
maintenance and repair on
the TOW and DRAGON
weapons systems and
associated test equipment.
His wife, Jo Ann, is the
daughter of Mr. and Mrs,
Caroll S. Perry, Route i,
Tyner.
THE CHOWAN HERAT.n
Medical
Assistants
The Edenton Chapter of
Medical Assistants recently
met in the AHEC building of
Chowan Hospital. Annice
Peckham, E M,T ,
Perquimans County, taught
the review class, “one -
man" CPR. After in
structions, Chapter
members were allowed to
practice on “Annie”. This
course is one that North
Carolina State Society
recommended each year for
all members.
A drawing was held for
the SIOO cash award.
(Tickets has been sold
earlier). Norman “Shorty”
Bass was the recipient. All
proceeds made on these
tickets will be used for the
scholarship fund, which will
be given to a deserving
young person seeking a
career in the medical,
nursing, or allied health
field in June, 1983.
The State Division of
Community Assistance
estimates that by the year
2000 the Nationl Flood In
surance Program will save
the American taxpayers and
flood victims $1.7 billion a
year.
$ Yes No I
U Are you dissatisfied with your child’s school portraits? | || | I
Q Do you feel they cost too much? | 11 |
P Is your child’s younger brother or sister jealous? | 11 | I
r y Do you need a family portrait? Has it been over a year since
9 mother, father, sister, brother, grandmother or grandfather , 1 r , I
has had a portrait? I II I
’Do you want 1-BXIO, 2-sX7's &10 wallets for under $6.00? | | [ | I
Y If you answered YES to ANY of the above - I
S Be at Macks FrL. Sat. & Sun,? I
i :nL UJr ; Mil; HiiU - ffuj I
1 KEROSENE ; : W ■.JL j' j?|
HEATERS , DRAPERIES MEN'S SHIRTS
W"" Rated at S.OOO STli's °f heat Up to L — %£
14 hours of heat on 7 gallons o* , , ~ . ”,
fuel. Compact and weighs 21 lbs Thermal backed 63 and 84 Slinhrl m * S ’ V *“ B
Efficient and Economical Sl.gh.lv imperfect. Sl.ghdy .".perfect Si»s S. M.
No Age Limit Nunj ° u u ’* er Sta >« s up ., wend i I
mm Umm \j Delicious Coble I
Ice Cream I
|| 24 per dip |
% gallon I
2.00 Deposit Jk mmmm aa 2 - 5x7 J *1” I
1\ 4 ' 23 De'iiw 9 9 10 ' W# " etS JJ *»'«« • Helleri Hell, • Cempacta Holly |
FJffiJY-SATURDAY-SUNMY ■
BACK jft Garden Mums 11
0N PACKA “7 II
'{i assorle( ***Bi* nmit 5 II
Shirley N. Morgan
Promoted
ROCKY MOUNT
Franchise Enterprises, Inc.,
a major Hardee’s fran
chisee, has announced the
promotion of Shirley N.
Morgan, 111, to the position
of vice president of
marketing and manpower.
Morgan, a native of
Edenton, joined restaurant
operations for the Rocky
Mount based firm in 1980 as
Director of Marketing. In
his new position, Mdrg'an
will assume additional
responsibilities in personnel
and management training
along with marketing for the
Company’s 44 Hardee’s
restaurants.
Morgan and his wife, the
former Susan Bailey, live in
Rocky Mount.
Center HNI Homemakers Club
Center’ Hill Extension
Homemakers Club, met for
its regular monthly meeting
Tuesday at 2:30 with Mrs.
Olive Mathews, hostess.
Mrs. H.T. Hollo well,
President, called the
meeting to order. Reports
were heard and accepted,
thank you notes were read.
Plans for operating the
TffamtMA
MVKTII M. 4 THOMAS K. PRITCHARD 1 >
(IS E. MAIN STREET
P.0.80X 385 ELIZABETH CITY, N.C.27909 Xkrk
PHONE 834-2272 "
INOKUrS FAIN IS MJWIK TO AN END. MAKE YOUR RESERVATIONS SOON! I
HOMO'S FAIR- OCTOBER 11-21.
LIOHTFOOT SHOWING A WILLItMttUUB korkuy OCT
OCT. 1* X OCT. 30 ’
♦*ew YORK CITY "OCTOKr' WEIKIND SPECIAL OCTOBER 16—17
PENN DUTCH A READING, pA. OCTOBER 6-10
NASHVILLE GRAND Ol OPRY A OPRVLAND - OCTOKR 13-17
BURLINGTON, N.C OUTLETS OCTOKR 32-23 A NOVEMBER 6
SAVANNAH, GEORGIA, WALT DISNEY WORLD, EPCOT CENTER
CHARLESTON, S.C OCTOKR 23-31
LAS VEGAS HOLIDAY NOVEMKR 26-28
RADIO CITY MUSIC HAU "CHRISTMAS SPECTACULAR" SHOW A SHOPPING
IN NEW YORK CITY DECEMKR 4
Only flrtt clou transportation (Trallway* Bui) and atcommodatlonc
(In Knoivlllo, |uit 6/10 mil# from fair slta) twill ba utadl
COMPLETELY LICENSED, BONDED ( INSURED FOE YOUR PROTECTION
Center Hill concession stand
at the Chowan County Fair
were finalized. The Center
Hill Homemakers are busy
preparing for the weeks
work. Breakfast will be
served each day. Fried
chicken, ham plates, hot
dogs and hamburgers along
with a variety of home
baked goodies will be
Thursday, September 23, 1982
available for your eating
pleasure.
All of the Center Hill Club
members invite the fair
goer’s tostop by the Center
Hill Concession stand for
good food and fellowship.
"A work of art it a corner
of creation seen through a
temperament" Emile Zola