Objectives and methods of land market

 

Dothan, Alabama, has experienced urbanization pressures during the past 20 years, developing from a primarily agricultural economy to one of the fastest industrializing cities of its size in the Southeast. This developing economic centre for the Wiregrass area has attracted an influx of individuals and industry which has resulted in substantial population growth, from 36733 in 1980 to 53589 in 2003. Migration of commercial and industrial organizations into this area has also created a stronger economy and has promoted higher incomes for residents. Increases in population and incomes have influenced the value of agricultural land surrounding the city.

An analysis of agricultural land markets and values in a transitional area can contribute to an enhanced understanding of the development process for small to mid-sized municipalities. Shifting patterns of land use and the relative importance of factors affecting land values can be evaluated and compared in the transitional area.

The primary objective of this study was to analyze the transitional nature of the agricultural land market in a rural-urban fringe and estimate the impact of selected factors affecting the price for agricultural land contiguous to a moderately sized city such as Dothan. Various demand-related factors were expected to be the primary determinants of agricultural land value in the rural-urban fringe, with development/urbanization factors being a component of this set. Contributing factors were grouped into locational, physical, and sales characteristics associated with specific properties in the study area.

Attempts were made to include only "bona fide" sales (market transactions in which the price is derived in free and open negotiations between a well-informed seller who is able, willing, and under no compulsion to dispose of the property and a well-informed buyer who is also able, willing, and under no compulsion to buy the property in question) of agricultural land. Other transactions, such as foreclosure sales, tax sales, and sales between relatives, were excluded from the data base.

The size of the tract and its location and primary uses were other key considerations for determining eligibility for the data base. The primary focus of this study centered around the conversion of agricultural land in transitional areas. Thus, the land already used for non-agricultural purposes at the time of the sale was considered ineligible and, therefore, was not included in the sample. Tracts which were less than 4 acres in size were omitted because there is relatively no agricultural demand for such a small acreage in this area. The 4-acre size limit was based on the smallest tract purchased for agricultural uses, as verified from responses provided in returned questionnaires.

Undeveloped property located in a residential subdivision or industrial park at the time of sale was also considered ineligible for inclusion because there would be little rational demand from the agricultural sector for such property. The rationale for this specific criterion is based on the fact that once these undeveloped tracts are classified as predominately residential or commercial, they are technically no longer considered feasible for agricultural production due to high values initiated by the urban demand.

Analyses were conducted for the Dothan fringe land market and the rural and urban components of this area. The rural market, which included 101 observations located more than 8 miles from the central business district, was highly agriculturally oriented. This area is not included in the Dothan city limits and has undergone the same degree of urbanization.

 

Lesson 14. LEGAL REGULATION OF REAL ESTATE MARKET.

 

1. Прочтите следующие слова:

Participation, background, majorants, contravention, scarcity, patterns, unique, existence, irretrievability, regulation, encumbrances, improvement, stipulate, restrict, disproportionate, injury, assigning, uninhabited.

 

2. Прочтите и переведите следующие группы слов:

To overcome the contravention; historical background; the relations of landownership; mankind's existence; property agreements; acting encumbrances; a part of the income; by virtue of; plants of investments; without disproportionate injury; usual business turnover; legislative determinacy; installation of rules; civil rights.

 

3. Запомните следующие слова и словосочетания:

 

abusive usage – варварское использование

accrue (v.) – нарастать, увеличивать

acquire (v.) – приобретать

acting encumbrances – действующие затруднения

aggravating contravention – отягчающее, усугубляющее разногласие, несоответствие

background (n.) – фон, обоснование

basic compound – основная составляющая

bitter confrontation – ожесточенная конфронтация

by virtue of (adv.) – посредством

civil rights – гражданские права

contravention (n.) – несоответствие, противоречивость, нарушение

deduct (v.) – отнимать, удерживать, вычитать

desire (n.) – желание

disposal (n.) – возможность распорядиться

effectiveness (n.) – целесообразность

encumbrance (n.) – (зд.) закладная (на имущество, землю)

ensure (v.) – гарантировать

free-hand – свобода действий

i.e. - that is – то есть

in all cases – во всех случаях

indirectly (adv.) – косвенно

inhibitory action – запрет

injury (n.) – вред, порча, ущерб

In searching paths of maximizing – в поисках путей максимизации

Installation of rules - установление правил

interposition (n.) – вмешательство, посредничество

irretrievability (n.) – невосполнимость

majorant of economic type – наиболее важный экономический аспект

money-goods parameters – экономические параметры (товар - деньги)

mutual relations – взаимоотношения

perturbation (n.) – волнение, возмущение

plant (n.) – (зд.) объект

restrain (v.) – сдерживать, изолировать

residual principle – остаточный принцип

scarcity (n.) – недостаток, нехватка, дефицит

selection (n.) – выбор

suffice (v.) – быть достаточным, удовлетворять

suppose (v.) – предполагать

target usage – целевое использование

termless possession – бессрочное владение

turnover of land – товарооборот земли

undergo (v.) – подвергать

uninhabited premises – необитаемые помещения

unique factor of creation - уникальный фактор создан

unpredictedness (n.) – непредсказуемость

warranty (n.) - ручательство, гарантия

without injury to their assigning - без нанесения вреда назначению

 

 

4. Прочтите и переведите следующий текст:

 

Text 14A