Episode 10: Rural Properties
The Appraisal Institute, the leading association of real estate appraisers, releases the 10th episode in season three of its popular “Face Value” podcast, hosted by Tonia Vailas, MAI, AI-GRS and Warren Boizot, SRA, AI-RRS.
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.
Appraiser-centric - in line with all the Appraisal Institute’s communications - the new Face Value podcast is targeting audiences across the wider real estate industry. Member input and podcast ideas are welcome and encouraged, please send them to facevalue@appraisalinstitute.org.
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