One of the common misconceptions about farm real estate appraisers is that our valuations are strictly concerned with real estate: acreage, location, buildings, soil types, and so forth. This conception is true in most cases.
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Having recently appraised two different types of grain facilities, I was reminded of how appraisers may need to follow different methods even when appraising the same kind of property.
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I recently completed an appraisal on a marginal farm property, about 77% open tillable/pasture ground, in rural Adams County, Illinois. Another appraiser in our office had completed an appraisal on the same farm in 2015.
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