The traditional way to value land is through the use of comparable sales. But what do you do when there are no comparable sales, an inability to secure financing and even fewer buyers? Many banks are requiring appraisals and requesting “Broker Price Opinions”. A BPO is what the broker believes is a reasonable price the property will sell for based on several factors related to the current market. The true market value is what a ready, willing and able buyer will pay that a seller not under duress is willing to accept. As a land broker, we try to evaluate the property based on the assets on the property, recent comparable sales of similar … [Read more...]
Green Hill Land and Timber Blog
Are You Paying The Right Amount of Rural Property Taxes?
Rural landowners have options to reduce their tax liability. Review your information at the tax assessor office to be certain what you pay taxes on is correct. Things to look for are correct acreage, structures, improvements and tax covenants. The tax assessor’s office does a remarkable job managing a huge amount of data. However, there are errors that go undetected and it is the landowner’s responsibility to verify their information. I worked on one property about 100 acres short and another 100 acres over what the tax assessor was using for acreage. Some of the older plats are incredibly accurate but sometimes there are inaccuracies. I … [Read more...]
Country Living – How does your garden grow?
There are many reasons to own property. We see a growing interest in people getting back to basics. Organic farming, big gardens, no herbicides, organic fertilizer, fresh eggs and range chickens are some of the reasons people are inquiring about land. One of our clients has some of the last remaining genes of the Piney Woods Cattle and goats brought over by the Spanish settlers. … [Read more...]
A Bright Spot in the Real Estate Market
The hot spot we have been following is agriculture and farmland. We keep in touch with our friends in the Realtors Land Institute (a National Network of Land Specialist) around the country staying current with trends and developments. A recent article published by one of our friends in the mid west states farmland prices have risen 20%! The top five earnings years for the farming industry in the last three decades have occurred since 2004 according to our friends at Martin, Goodrich & Waddell. … [Read more...]
Summer Scouting for Big Bucks
Do You Have Trophy Whitetail Bucks on Your Land This Season? I asked an old hunter if he was excited about deer season coming in. He said he did most of his hunting during the summer and did not hunt much in the winter. Now there is a whole load of issues with that statement. What he meant was he did his scouting in the summer when the bucks were all packed up together. In the summer there is little activity or “pressure” in the woods and the bucks are lounging around looking for food. By mid to late June, horns are pretty far along in there development and you can have an excellent opportunity to see what bucks you have for the … [Read more...]
Whats Up with Your Timber and the Timber Market
Just about every industry is affected by the current state of the US and Global economy. The timber industry is certainly affected as well. We see local and global trends dictating supply and demand causing fluctuation in the price we get for our timber products. Landowners need to ask a few questions about their timber investment before making an investment strategy or cashing in on their timber investment. … [Read more...]
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