Rural Appraisals
Go High Tech Apps, maps, phones and drones help appraisers arrive at accurate property values faster than ever.
R
ural appraisers will go a country mile to figure out what your property is worth.
They’ll drive across state to measure buildings, estimate crop values, and count livestock and equipment. They’ll brave snakes and all kinds of weather to inventory trees in a timber stand.
Photos by Debra Ferguson/Southern Images
And they’ll figure out property value based on various factors — type of agriculture, nearest city, ducks flying overhead or oil flowing underneath. While rural appraisers have done that for decades, they can do it faster and more accurately today thanks to technology. As a result, borrowers and lenders now have a better idea of their property’s market value — including the collateral backing their loans. “Appraisals help protect the association, our district and the entire Farm Credit System,” says Tyler Mullins, vice president and appraiser for Mississippi Land Bank in Senatobia. “We can look at how well secured the collateral portfolio is, which helps insulate us during economic cycles.”
Seeing Things in a New Way
With today’s detailed aerial photos, appraisers can see what makes property more or less desirMississippi Land Bank appraiser Garrett Dismukes able before they even get there. uses a time-saving mobile app for forest inventories. Things like water, tree cover, The more uniform the timber stand, the fewer topography and configuration samples the app needs to calculate its value. make a difference. Multilayered maps show property boundaries, flood zones, easements, soil types, school districts and more. What appraisers can’t inspect on the ground, they can see from a drone.
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