profile picture

Gaut Appraisal Blog

Real Estate Growth and Appraisal - Hale County - Carson County - Potter County
February 11th, 2014 4:29 PM

By John Dudley

Growth in The Texas Panhandle, especially in Hale County, Carson County, Potter County Creates Property Appraisal Issues

Historically, a land of spectacular scenery, vast unpopulated plains and sagebrush, the Texas Panhandle has recently enjoyed the most rapid growth in the country. But what’s driven this unprecedented population growth to an area that was almost abandoned some fifty years ago? Much of the reason is a combination of quality of life needs; access to milder climates, outdoor areas, the increase in agriculture and organic farming, low housing prices and strong economic foundations.

hale county real estate appraiserThe Growing Economy

Local governments have seen tremendous growth in Hale, Carson and Potter County. In fact, the population of the entire Texas Panhandle in general has increased substantially. Consequently, local economies are also being lifted, primarily by the agriculture and energy related industries.

Small Glitches

This substantial growth to communities that haven’t seen economic stability in decades is great news. However, as with all types of growth, a few hiccups appear along the way. One such problem is the lack of qualified real estate appraisers to help complete a home purchase or sale.

Why is An Appraiser so Important?

When buying or selling a home, a real estate appraisal helps establish the property’s market value for this area. Mortgage lenders always require an appraisal before making a loan, as they want to make sure the property can be sold for the amount they are lending.

The Problem

The issue in the Panhandle area lies in the fact that there just aren’t enough good appraisers to handle the increase in popularity of these counties. Consequently, lenders are calling in the Appraisal Management Companies (AMC). These are companies from larger metropolitan areas that offer quick and inexpensive appraisals.

The problem is that the appraisers contracted by AMC companies are less experienced, don’t know the Panhandle area and often make mistakes when appraising a property. These mishaps can result in money loss for the seller, or even in mismanagement of the purchase for the buyer. AMC pays a low contract fee to inexperienced appraisers, and then they offer an overload of work which causes even more issues.

The Solution

AS a buyer or seller, whenever possible (when setting a sales price or being cautious about investing in a property), it works out best to find your own local, independent appraiser. Although a good local appraiser may take a day or so longer to get to the property, and he may charge slightly more than the AMC, he also knows the local area, the economy and the future growth of this area.

A local company will have appraisers that have grown up in or served mainly in this area for many years. They understand that the low economy of the past is now changing, and as a result, so are the home and property values for the Texas-Oklahoma Panhandle area. The result is an appraisal that lets you make good decisions, that you own, that is not tied to a use other than your primary interest.

For a local real estate appraisal company that covers all counties in the Amarillo TX area, contact us right away.

Amarillo TX Appraisal CompanyJohn B. Dudley, SRA is an SRA-designated commercial and residential appraiser, with 35 years experience. serving the Texas pandhandle, including Amarillo TX Canyon TX Hereford TX Pampa TX Dumas TX Panhandle TX Borger TX Claude TX Dalhart TX Friona TX.
Panhandle Real Estate Appraiser Search Subscribe Dumas TX Appraisal Pampa TX Appraiser RSS Share Share Search Commercial Appraiser - FHA - Estate Trust Legal Divorce Litigation Dispute Facebook Panhandle Appraisal Tax Appeal Assessment Challenge PMI Removal FSBO Mortgage Twitter


Posted in:General
Posted by John Dudley on February 11th, 2014 4:29 PMPost a Comment

Subscribe to this blog

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog: