Polk County Enterprise (Livingston, Tex.), Vol. 112, No. 83, Ed. 1 Sunday, October 16, 1994 Page: 42 of 44
This newspaper is part of the collection entitled: Polk County Newspapers and was provided to The Portal to Texas History by the Livingston Municipal Library.
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4
Page 18 - The Lake Livingston Real Estate Guide - October If, 1»4
Let First State Bank help
with real estate needs
Rural market
From page 17
St, Livingston, Texas. The bank's lobby
hours arc Monday through Thursday 9 a.m. to 2 p.m.; Friday, 9 a.m. to 5:30 p.m.
Drive-in hours are Monday through Thursday 7:30 aan. to 5:30 p.m.; Friday 7:30 a.m.
to 6:00 p.m.; Saturday, 9 a.m. to 1 p.m. An automobile teller machine is also available
24 hours a day.
from $30 to $2,500 per acre. A typical sale is 400
acres. None of the 112 Texas observers see a decline
in native rangeland prices.
The further the experts look into the future, the
less optimistic they are. Most believe Texas rural
land markets face turblent times ahead, primarily be-
cause of agricultural policies at the federal level.
At the center of attention is the Conservation
Reserve Program (CRP), a $2-billion-per-year
program. As CRP contracts expire in coming months,
millions of acres of rural land could come on the
marker. Texas alone has some three million acres to
be retired from the CRP between 1995 and 1997.
"The big question is what will landowners do with
their released land?" says Gilliland. "Nearly half may
be returned to crop production. Even if only 3 percent
is sold, substantial acreage is involved."
As former CRP lands are sold, the increased supp-
ly could reduce prices. As other landowners bring
their CRP land back into production, prices for
products, such as grains and cotton, are likely to fall.
"As price support for agriculture erodes at the na-
tional level, more price instability can be expected,"
says Ronald Knutson, professor of agricultural
economics at Texas A&M. "Lower average prices
will result in the short run, but higher average prices
are the long-term prospect."
For a copy of the latest report on rural land values
in the Southwest, send $5 ($7.50 out of state) to the
Real Estate Center. Texas A&M University, College
Station, Texas 77843-2115. Ask for technical report
TREY-1020.
/C \First State Bank
I State ] of LIVINGSTON.
^ \ B ANKI 112 West Polk
LEI \ J Livingston, Texas 77351-1277
mmm Member FDIC
112 W. Polk 327-5211 Livingston, Texas
" LOOK TO US FOR YOUR HOME FINANCING"
•Mortgage Loans
•Home Improvement Loans
•Acreage Financing
•Equal Housing Lender
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White, Barbara. Polk County Enterprise (Livingston, Tex.), Vol. 112, No. 83, Ed. 1 Sunday, October 16, 1994, newspaper, October 16, 1994; Livingston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth781988/m1/42/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Livingston Municipal Library.