Shop/Barn in appraisal?

Good Morning From Bellingham;

From your question it is not clear if you are referring to a Zestimate or a Market Appraisal...

If you are referring to a Zestimate, keep in mind that Zillow merely estimates based upon county tax records, which may or may not include the improvements your site enjoys.   Zestimates have a well deserved reputation for innacuracy, yet many folks rely upon them far more than they should.

A Market Appraisal, however, should be much more accurate.  You or at least someone with a connection to the property is paying good money for an accurate assessment of what you have on site.  Having been a broker in Whatcom County for many years, I am always amazed at the local appraisal processes that very often don't really take into account many of the factors those of us selling property to real people see on a very frequent basis.  The disparities increase when the appraiser is from Bellingham or worse yet, Seattle based.  Those of us in the county understand what those from an urban setting usually cannot comprehend.  Proximity to a busy highway.  Type of ground.  Soil.  Wetlands.  Flood zones.  Exposure.  Etc, etc, etc.  I have gone round' and round' with appraisers...since many of them simply compare apples to apples and oranges to oranges.  OK...3 beds/3 beds...2 baths/2 baths.  2 car garage/2 car garage...=...same value.  But what if this home on 5 acres is right on Grandview Rd while this home on 5 acres is way back off the road, and the road is seldom traveled.  Those of us selling rural homes understand that folks wanting to get away from the city don't necessarily want to be right on the road.

With your description one would think that your improvements as well as the pond and views should give you a much higher value than raw land without these features...

Good Luck!

Yes indeed the value of your property should be higher than raw acreage!  I'm assuming in addition to all the equestrian facility features you describe, you have a home on the property too?  The only reason barns, outbuildings, arenas etc would not be included in the appraised value is if they were constructed without permits.  My suggestion would be to contact the appraisal company and express your concerns and ask for another appraiser at no additional expense to you, assuming you are the one who requested the appraisal (which is the case if you authorized a lender to order one). 

When it comes to working with Realtors and appraisers, it is best to have people who are familiar with, who have some experience w/ equestrian properties. Asking questions along these lines would be the first step in determining if the man or woman selected is the right fit for the service you require. 

All the best,
Christine

The Zestimate uses the core facts of the house (size, lot size, room number, comps)  for calculations.  It works for traditional residences best, and falls apart with properties outside of average (as you describe)   The Zestimate does not include views, barns, shops etc.    These features certainly can add value, so you can call them out in the "my estimate" available on the property detail page.    An in person appraisal is the best for true market value, Zestimate is only a starting place.