Mark K
Elite Member
- Joined
- Jan 27, 2004
- Professional Status
- Certified Residential Appraiser
- State
- Indiana
We see the same thing around here but its usually ag land with an old house.
80 ac. good ag land worth $640K.
80 ac. good ag land with old, livable farmhouse, worth $640K. The improvements, old house, old barn, etc., often contribute very little or nothing to the overall value.
If the house is somewhat newer I'll do a depreciated CA and include the improvements at their depr. value as a line item adjustment on a land form or brief narrative.
80 ac. good ag land worth $640K.
80 ac. good ag land with old, livable farmhouse, worth $640K. The improvements, old house, old barn, etc., often contribute very little or nothing to the overall value.
If the house is somewhat newer I'll do a depreciated CA and include the improvements at their depr. value as a line item adjustment on a land form or brief narrative.