Rural Properties

Face Value

The episode focuses on appraising rural markets. Despite rural America making up 97% of the country’s land mass and being home to 1 in 5 Americans, there are few appraisers that work in this market. And it requires a special set of knowledge, which Vailas and Boizot tap from guest Ben Davidson, an MAI, SRA, AI_GRS, AI_RRS designated appraiser.

Davidson discusses rural geography and what constitutes a rural property - it's not just how close the houses are together! Warren recalls being told that checking the box for ‘rural’ might ‘kill a deal’, an idea Davidson dismisses as a problem from the past. They discuss the impacts of water rights and utilities on value, the ‘barndominium’ craze, and opportunities for the next generation of appraisers.