• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Rural town question

Status
Not open for further replies.

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
Can a property be considered suburban to a small rural town. The town has most community amenities minus mass transit, immediate access to interstates, large scale shopping and hospitals. The subdivision is within a 5 minute drive to the center of town. The roads in the subdivision are typically unpaved natural surfaces platted in typical suburban fashion. Site sizes are typically .25 acres.

I've had this discussion with others in my office. The subject is convenient to the center of town and it's amenities. But the town is considered to be rural as it is 20 minutes from a city to its north with all of the amenities one would expect.

So, can a property be suburban in a rural town? Or am I missing the point. Can there be a suburban environment when there is no urban environment. Are the centers of small towns considered urban?
 
Last edited:

Wendy

Senior Member
Joined
Feb 23, 2004
Professional Status
Certified Residential Appraiser
State
Florida
.25 AC sites would not suggest rural to me.
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Sure. Dade City is one of those towns that built up over the surrounding rural uses, as is Plant City. These may be "Mulberry" type locations (and strangely enough "Mulberry, FL" is another one of these rural based towns) but if you have a development that feeds off them that development can be considered suburban.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
For property like that I use the term "Rural Subdivision". Then tell the story about it: location, distance and soforth.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
It would seem suburban, to me. 5 minutes to a "rural" town? Who is calling it a "rural town?" If that town is only 20 minutes to a major metropolitan area I would call it suburban. It may have some rural characteristics such as farm supply stores. So, that makes the subject 25 minutes from a major metro city.

Suburban, in my part of the world.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I had an appraiser tell me once that is you can drive to a Wal-Mart in less than 20 minutes, it is suburban. I had another tell me if you see the smoke from the chemney of another house, it is suburban. I don't think either of these definitions meet the Fannie Mae definition of suburban. How close are the comps that you are using. I'd call it rural if they are more than 1 mile.
 

Joker

Elite Member
Joined
May 28, 2002
Professional Status
Certified General Appraiser
State
Ohio
Compared to my area, that is URBAN!

Seriously, I would consider it suburban, as the town is apparently a suburb of the larger city.
 

Pa'akai

Junior Member
Joined
Jan 7, 2004
Professional Status
Certified Residential Appraiser
State
Tennessee
I was always told that if the property is located within 5 miles of a city or town that had most needed services (schools, shopping, banks, etc.) it can be considered suburban.

But there are so many different opinions on this and has been hashed out in the forum before with no real consensus if I remember correctly.

To an underwriter everything is suburban no matter where its located.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Does Fannie or Freddie have a definition of rural, RSW?
If a community has a hospital, schools, shopping and employment, police and fire protection and is within commuting distance (less than an hour) from a major metro area, I consider it to be suburban. Small town populations may mean comps are more than a mile away. If that/those comps are in the same competing market area, I do not consider distance relevant.

This issue has been with us for at least 25 years. Maybe it's one of those appraisal mysteries that will never be solved. LOL
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
Compared to my area, that is URBAN!

An intersection of two county roads with a bar, gas station and a church is urban to you.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks