Some folks get the easy ones.

[Rick Neighbors]

Times are rough.......or I wouldn't be attempting to do this one!

65+/- acres of vacant land. Rocky soil that will only grow cedar and mesquite, on a rural county road. A portion is in the flood plain, due to a creek that runs across a part of the place. Has 3 high voltage overhead transmission lines. 50' wide gas pipeline easement across part of it.

The only improvements are a large steel shop, and 2 deep water wells that help feed a 5 acre stock tank.

The bank wants to know how much it's worth.

To further complicate things, as you North Texas Appraisers know, the gas industry and the mineral rights issues have really screwed up this market. And this place is right in the middle of it.

Also, the owner is selling water to the gas companys for fracturing wells, out of the tank that is fed by the 2 wells......that the gas company drilled for him.

Survey doesn't show the width of the easements for the transmission lines, but I got that from the electric company. It uses up about 10 acres of land. The pipeline easement uses another 2 acres. Can't figure how much is unusable due to the creek and flood area. And there is no access to part of the land due to the creek, which is not deep with water, but has cut deep into the rocky land over the years. Would need a bridge.



So that's my sad story. Like I said, if business wasn't so slow in our industry, I wouldn't touch this one.

Rick

 

[Mike Boyd]

Neither would I. I would give it to Greg. LOL

 

[Workbox]

Feel your Pain Brother. Not real familiar with that area, but am with west Texas, Crazy stuff. I could not do it with at least a min of one month of research. And wind power generators in your area?

 

[Dontbethatguy]

Thank you I feel so much better about my day.

 

[Hamlet]

Neither would I. I would give it to Greg. LOL

 

[Michigan CG]

Looks like a fun assignment.....fee should cover a month of other fees.

 

[Rick Neighbors]

Fun one

Your idea of fun and mine differ.

Actually, I have had this one in the works for over a month. The bank sent it, I did the property inspection, and requested a survey.

I assumed that the survey, which took them a month to provide, would show all the easements. Well, the first survey just showed the perimeter boundaries of the property and the acreage.

I told them that I needed a survey that showed all the recorded easements. Took 2 more weeks, but finally got that one. It only showed the centerline of the high voltage towers where they crossed the property. I had to call the electric company.....and that guy was real helpful! Got all that data, and using an architect's ruler and the survey scale was able to roughly determine the acreage that was ate up by easements.

Now I am trying to determine how to proceed. The "utility" of this property sucks. Just got to figure out how to translate that to Appraiser "terminology". :new_smile-l:

Rick

 

[TEL2002]

Ask the LO how much he needs to make the deal work, then back into the number.

 

[Terrel L. Shields]

maybe you could get an oil witch to witch an oil well and add that value...

 

[Kevin Mc]

Tell you the truth Rick, these are the times where assignments like this are good. At the end of the day you will certainly be a better appraiser. Don't look at the down side (there is none). You will learn and hopefully earn at the same time. Good Luck.