Sometimes the valuation of real estate has less to do with finding commonalities with prior transactions and more to do with recognizing when there is something unique at hand. To recognize the true value of a trophy property, an appraiser must have the appropriate perspective, whether the land sits atop mineral reserves, looks out on a breath-taking view, or simply provides true solitude. If this sort of property becomes the subject of a transaction, extra care must be taken.
Typically these issues of uniqueness surround high-amenity locations such as beachfront or island tracts, pristine wilderness, or the vast ranches found in the western states. A remote island property may lack mineral rights or significant commercial prospects, but the scarcity and high demand for the lifestyle attendant with such land must be weighed accordingly. Greenfield Advisors has spent years compiling a comprehensive database concerning transactions and assessments of trophy property of all kinds, putting us in excellent position to provide whatever valuation services might be needed. We have leveraged this data on projects throughout the United States and across the globe.
In the rarest of cases even that isn’t enough. What do you do when amenities truly are unique? Monuments, registered historic sites, and structures or manufactured landscapes that rise to the level of art provide further challenges that can only be overcome with the sort of holistic analysis in which Greenfield Advisors specializes. Our work has seen through the noise of selling at auction and the complications of public hearings to make accurate value determinations of one-of-a-kind properties.