Appraisals

Our Accredited Rural Appraiser leads the way in rural appraisals and are consistently recognized by both the farming and legal communities as men of high integrity and a source of expertise. We have the ability to provide attorneys and clients with fully documented appraisals that stand up under courtroom examination.

Dennis Reyman  is an Iowa Certified General Real Property Appraisers and has also earned the Accredited Rural Appraiser (ARA) designation from the American Society of Farm Managers and Rural Appraisers.

The ARA title is awarded to appraisers with a college degree, minimum of five years of experience, successfully completed sixteen schools, and passed a rigorous two day written and oral exam.

  • Dennis has years of practical appraisal and farm management experience and holds the title of AFM (Accredited Farm Manager). His farm management knowledge provides excellent background when determining the value of income-producing agricultural properties.
  • Travis Nissen is a Farm Real Estate Appraisal trainee who has completed the necessary education and experience requirements and is currently awaiting application for state certification.
  • In addition to our appraisers’ experience and education, we took the initiative in 2000 to acquire sophisticated GIS technology (Geographic Information System) to improve land feature analysis for appraisals.
  • GIS Analysis for appraisal purposes is the computerized process of combining soil maps, satellite photos, soil productivity ratings, and digital land measurement to produce accurate maps of a parcel’s inherent productivity.
  • Our GIS system allows us to verify acreage measurements, examine land features from satellite photos taken in various years, and become better acquainted with a parcel than is possible by ground observation.
  • An extensive database of real estate transactions is maintained on a weekly basis, ensuring the most up-to-date market analysis.

Appraisal Services

A Market Value appraisal provides the value of a farm property on a given date.  Three approaches to value are used to assure the client of a highly objective value:

  • Income Capitalization Approach – provides a value based on expected reasonable income and expenses, with net income divided by a capitalization rate derived from market data
  • Sales Comparison Approach – head to head comparisons of nearby sales
  • Cost Allocation Approach – allocation of value for each land type based on values of similar land types of nearby sales.

Market Value Appraisals may be used for the following reasons:

  • Buy, sell, trade, or transfer ownership
  • Establish the basis for depreciating various buildings and improvements
  • Estate planning and settlement
  • Financing
  • Liquidation

Estate Appraisals

Estate appraisals are used to obtain values for federal estate and Iowa inheritance taxes. Settlement of estates containing real estate requires that real estate valuations be included on the inheritance tax return.

We do many estate appraisals prior to filing of estate tax returns. A properly documented appraisal will withstand a challenge by the IRS. The best policy for those responsible for handling estates is to obtain a fully documented appraisal from an accredited appraiser to ensure that property values can be supported.

Partition Appraisals

Partition Appraisals are used to establish a division between multiple owners with individual owners receiving a specific piece of land. Each individual can sell, trade, or transfer ownership in a specific property rather than a percentage of interest in a larger parcel.