Market Value of Horse Property.

[J Grant]

"Progress"....I remember such beautiful land and horse farms where I grew up, inevitably as land became more valuable they were sold off and turned into developments and shopping centers...more sprawl, less nature, less anything of beauty.

Horse people may be crazy but their efforts at land preservation in certain areas including right of way trails or being willing to preserve land for grazing/breeding etc contributes to the landscape and character of a region.

Glad I made Denis laugh!

 

[Ken B]

It's such a niche market especially when you throw in an indoor riding arena. The market within the market is very, very small. Again brings up the issue of market value. This small market is a world onto itself and certainly isn't representative of the Market as a whole. 90% of the whole market doesn't want and won't pay for a 40,000sf riding arena. What you do with that is whatever the heads of state in here deem is appropriate.

Perspective is everything. The population of Ludington, MI is around 8,000. That is about the number of students enrolled in the two largest high schools in my hometown when I attended one of those schools late 70's. The population in that area is even higher now.

Might I say that the market in Ludington is so small that any transaction that occurs in that town can not represent a market transaction?

Wise up, already.

 

[J Grant]

WORSE than a horse property...I just accepted an order in an airplane community, light planes, hanger, private runway etc....lol, talk about niche market and crazy people...why do you have to land a PLANE in your FREAKING YARD? (actually, I've done a couple of these...a couple of similar comps with ugly airplane hanger larger than house in the back and good to go

 

[Peter LeQuire]

There are a few small acreage properties with horse facilities that were annexed in our town. These properties are pretty desirable, as they benefit from the superior city school system and can accommodate the family that has an interest in horses - they also avoid having to buy in the county and pay tuition to private schools.

 

[KYLECODY]

...I'm not sure its even possible.

The FNMA definition of market value requires that buyers and sellers be "acting prudently", "knowledgable", "not affected by undue stimulus", "typically motivated", and "well informed or well advised".

As far as I can tell, people that center their lifestyles around horses are batS#it crazy and largely not capable of acting prudently or any of that other stuff.

I'm thinking of taking horse properties off of the list of assignments I'll accept. m2:

A few coverd, watered stalls, small fenced areas and riding circles here outside Phoenix on acre tracts really don't add much value to a property based on the market approach. I'm talking $5-10k tops in the under 200k price range. People get very upset with that when they spend over that alone on the pipe fencing.

City realtors here are also so brilliant that many acre properties out in the desert are marketed as "horse properties" just because there is an acre..Maybe I'll market my typical suburban tract home as a horse property. Supposedly a horse could fit in my backyard, he just wouldn't like it and the HOA would fine me.

 

[Tim The Enchanter]

WORSE than a horse property...I just accepted an order in an airplane community, light planes, hanger, private runway etc....lol, talk about niche market and crazy people...why do you have to land a PLANE in your FREAKING YARD? (actually, I've done a couple of these...a couple of similar comps with ugly airplane hanger larger than house in the back and good to go

I think if you had your own small plane that would be awesome!

Maybe you can check out that BBB event for me Terrel. From what my daughter said when they lived there it was a pretty big crowd with a lot of "inappropriately dressed" middle aged women. :icon_lol: