Most appraisers agree that land is among the more difficult assets to appraise. It takes unusual abilities of perception to sort through the possibilities of highest and best use and to appraise land to its highest possible value. Valuation of contaminated property can be even more difficult.
Gustavson Associates’ view of land appraisal is unique in the nation. In addition to analyzing its utility and market of land, as any competent appraiser would, we look at land as the product of the underlying geology and climate, even if we’re only appraising the surface rights. Our geological background provides us with this unique perspective. That doesn’t mean that we make a land appraisal into a geological report (unless that’s what the client wants). But it means that we see aspects of land and comparable sales that few, if any real estate appraisers are capable of seeing. In addition, we have an alliance with the nation’s foremost appraiser of contaminated property.
Our experience in land appraisal ranges from commercial lots in urban areas to development land up to 23,000 acres. It includes most types of development land, whether for industrial, commercial or residential subdivision use.
Our Chief Appraiser, Robert B. Frahme, MAI, CPG, CMA, brings over 15 year of experience in commercial real estate appraisal to bear on all land appraisal assignments. Much of that experience has been in the area of eminent domain, involving partial and total takings. But it also includes appraisal of land for financing, estate planning, acquisition or divestiture, reporting and other uses.
All of our appraisal work and reports comply with the Uniform Standards of Professional Appraisal Practice (USPAP), as promulgated by the Appraisal Foundation. |