Perception impacts price

DENVER – Paul Bierschwale, accredited rural appraiser and owner of Bierschwale Appraisals in Junction, Texas, believes the personal desire to own a piece of rural America is driving land prices to new levels.
In his home state, where large volumes of rangeland host fewer cattle grazing operations, Bierschwale said this type of land is rapidly transitioning into recreational sites for private owners who want a refuge for personal enjoyment.
Looking for recreational retreat. “Recreational aspects of the land like wild game hunting, fishing, water activities and wildlife and bird watching is now dominating southern and western land markets,” he said.
Rapid urbanization has eliminated much of the region’s premier wildlife habitats in rural areas once surrounding big cities.
“And with surging growth in outdoor recreational sports, those who can afford to buy land to fulfill their interests are doing it in rapid fashion. Recreation is definitely driving today’s market.”
Money no object. “For many buyers, price is not the most important factor in determining value of ownership,” he said.
“What someone is willing to pay depends greatly on the land’s perceived value as it relates to location, emotional appeal and future intended use, as well as anticipated appreciation in value.”