A different spin on your basic "house and 5 acres".

[Couch Potato]

Please note. If you have a SUBDIVIDED parcel, legally done so, then there is not a single 40 acre parcel. There are 2 parcels. Appraise only an identifiable parcel and you are totally complying with Fannie mae. The fact the owner has adjacent property is not an issue, even if the adjacent parcel by its nature affects the value. So if you have 80 acres and legally subdivide it into 5 acres and 75 acres. The 75 being a poultry farm and the 5 acres being a dwelling, then appraise the 5 acre tract as a perfectly legal 5 acre parcel. The fact the chicken farm may affect the value only means you address that issue. You have no obligation to address even the ownership of the other parcel unless the two parcels are sharing a well or driveway.

I disagree with this part of your point. Not strongly disagree, but I do question the idea that a house next to a chicken farm that one owns is affected by the chicken farm in the same way as a house next to a chicken farm owned by someone else. I would go so far as to say ownership of adjacent land is always relevant to an appraisal and always should be reported.

 

[Terrel L. Shields]

I would go so far as to say ownership of adjacent land is always relevant to an appraisal and always should be reported.

So you live in town in the middle of a subdivision, all built in 2002. And you mention the ownership of the adjacent lots (all 9 of 'em)? And if you were appraising 203 N. Elm and the owner also held title to 204 N. Elm across the street...it is relevant to the value of 203 N. Elm how?
Any chicken farm may impact nearby residences....owned by the chicken farm owner or not. The title to the property is moot.

 

[Couch Potato]

So you live in town in the middle of a subdivision, all built in 2002. And you mention the ownership of the adjacent lots (all 9 of 'em)? And if you were appraising 203 N. Elm and the owner also held title to 204 N. Elm across the street...it is relevant to the value of 203 N. Elm how?
Any chicken farm may impact nearby residences....owned by the chicken farm owner or not. The title to the property is moot.

Yes, I mention it. When adjacent properties are owned the rights can change. For instance, in many subdivisions owning adjacent lots extinguishes the utility easement between the lots. In North Carolina, owning adjacent condo units gives the person ownership of the wall between the condo units. Being adjacent often makes a difference. Properties separated by a public road are not adjacent.

 

[Terrel L. Shields]

OK. make it 203 Elm and 205 Elm...adjacent....in my county having 2 lots requires 2 addresses.