Equestrian Appraisals

Equestrian Property Appraisals

by Administrator on Dec 13, 2017 • Equestrian Appraisals • 1184 Views

In Las Vegas one of the first issues an appraiser has to deal with when approached to value an equestrian property is, “what is its highest and best use?” Many equestrian properties include 2 to 5 Acres of land, and the question for an appraiser is, “is the property worth more vacant or is it worth more improved?” To answer the question an appraiser basically has to complete two appraisals, one of the land, the other of the improved property including the land. It seems like common sense that the improvements would add value, and in many cases they do, but there are situations that occur when the land “as vacant” becomes more valuable for an alternate use than for an existing residential use.

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