ASFMRA RPRA case studies
ASFMRA RPRA · Put your knowledge to work in context.
The Real Property Review Appraiser (RPRA) is one of the professional accreditations listed by the American Society of Farm Managers and Rural Appraisers (ASFMRA), alongside the Accredited Farm Manager, Accredited Rural Appraiser, and Accredited Agricultural Consultant designations. ASFMRA describes its accreditation and continuing education programs as built around the special understanding, insight, and appreciation required for rural property and agricultural assets, and states that its land experts work under a professional code of ethics. The ASFMRA RPRA case studies are 5 cases and about 2,579 words.
1The 40-Acre Comparable That Isn't Quite Comparable
You are reviewing a 160-acre irrigated corn/soybean farm appraisal in a strong central Nebraska county. The appraiser used five sales.
562 words, about 3 min2Reconciling a Wide Range on a Dryland Wheat Ranch
You are reviewing a 2,400-acre dryland wheat/fallow ranch appraisal in eastern Washington. The three approaches produced: Cost Approach 1,950,000 (land value from a county assessor schedule plus depreciated improvements); Sales Comparison 2,610,000; Income Approach 2,180,000 (based on a 4.5% cap rate and net operating income derived from a 3-year average of the owner's actual crop receipts).
503 words, about 3 min3The Reviewer Who Signed Off Without Visiting
You are performing a field review (Standard 3) of an appraisal of a 320-acre irrigated farm with a 1970s machine shed and a grain bin complex. The review assignment required an exterior inspection of the subject and at least a drive-by of the comparables.
524 words, about 3 min4Pressure to 'Make the Number Work' for a Lender
You are an accredited rural appraiser engaged by a community bank to appraise a 480-acre irrigated farm securing a loan. The loan officer calls after you deliver a draft indicating 2.95M.
480 words, about 2 min5The 103-Acre 'Farm' That Is Mostly Homesite
You are reviewing an appraisal of a 103-acre property in a transitioning rural county. The tract contains a 2,800 sq ft house, a shop, and 96 tillable acres currently rented to a neighbor for 185/acre.
510 words, about 3 min