As you hunt for land in the country, don't forget the rural appraiser. Realtors may swat the profession aside, but appraisers do today what they've always done—give buyers detailed insight into the value of land.

If you're going to buy land in Florida's Manatee County, you'll certainly need to hire a private appraiser, says Jim Strickland, the county's agricultural appraiser. "That's because what we're seeing now is 20 to 30% appreciation per year over the past two years," he says. "Our records are fairly accurate, but keeping up with the market you need a private appraisal."

E X T R A: What Catches an Appraiser's Eye?

Certainly not every area of the U.S. has this kind of demand for land. But hiring an appraiser—even if an appraisal is not required by the lender—is worth considering. An appraiser can be especially helpful if you're looking to buy a piece of raw land. Land with a home on it has some level of established value. However, it is more difficult to judge the value of property if it is currently cropland but widely viewed as an excellent site for a country residence.

Others question the need for an appraisal if the lender doesn't require one.

"I think sometimes appraisers miss a few of the nuances in the market," says John Bates, Coldwell Banker realtor and one of the top realtors in the country.

Adds Greg Sackos, a buyer-broker with Intermountain Realty in Baker City, Ore., "I'm very familiar with my territory. Appraisers can be too conservative, a bit behind the market. I just sold a property appraised at $375,000 for $550,000."

Here are ways to find an appraiser:

The best way to find an appraiser is by word of mouth. Title companies especially keep their ear to the market.

Realtor.org, the web site for the National Association of Realtors, offers help in finding appraisers. You can also go to the Appraisal Foundation (appraisalfoundation.org).

The American Society of Farm Managers and Rural Appraisers (asfmra.org) has 2,300 members who specialize in rural properties. Search their web site by state.

STEP 4: CHECKLIST FOR BUYING LAND >>


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