There are generally accepted approaches or processes appraisers use to estimate market value. These may include reviews of actual similar transactions that have occurred in the market, or assessments of the income-producing potential of the property. The most appropriate approach depends on the nature of the property and its market. Also, the availability of complete and accurate information on the property will determine the reliability of a value estimate. In most cases, a good forest inventory is a must.
Many landowners erroneously believe the county’s tax value is a reliable estimate. A review of asking prices for available properties for sale may give some insight. Depending on your reasons or intended use of the value estimate, some of these general opinions and sources may provide adequate ballpark numbers. The fact of the matter is that even professionals are not always 100% confident in determining the value of some properties, particularly unique properties that are not often traded in the marketplace.
However, FRC’s certified appraisal staff performs numerous appraisals every year on behalf of clients with various types of timberland ownerships and rural properties. In addition, we are continuously in the marketplace representing or consulting with buyers and sellers of timberland. With adequate information about your property, FRC can provide a value estimate that can be relied upon with a high degree of certainty. Depending on the reasons for needing a valuation, we can determine the most cost-effective way to meet your needs.
Contact us today to talk with one of our timberland appraisal experts. We welcome the opportunity to help you determine what your land is really worth.
Instead of guessing what the value of your property may be, a thorough and accurate appraisal will allow you to manage your forest assets or buy, sell, or transfer property with confidence.