Our company philosophy focuses on relationships in real estate and centers around customer service honoring the client’s appraisal and real property needs. We also strive to respect confidentiality and our client’s parameters and time constraints.
We honor the land and those who live and work on it. Montana and Wyoming are two of the last frontiers in America. The area holds prestige and is considered to be some of the most beautiful land in the nation. Many areas have been discovered as recreational and scenic havens and the area is greatly influenced by the fact that much of it is in the Greater Yellowstone Ecosystem. People come here from around the nation, and the world, to visit and recreate. Many come back and purchase land here. Upwards of 90% of the land transactions in the past ten years, over 1,000 acres, have sold to out-of-state interests and many smaller tracts have also been acquired by out-of-area buyers. The fascination with the west and the Rocky Mountains continues, and while tourism and recreation are a large part of the economy, family farms and ranches still strive to maintain a livelihood and hope to leave their operations to up and coming family members. We at Terra Western Associates believe in a mindful approach to the land that honors all aspects of ownership in these beautiful and productive places.
Providing high quality appraisals and information is of the utmost importance to us. Our clients rely on our work to give them the information they need to make decisions regarding one of the most precious assets one can own, their land. In this regard we let the market tell us what land is worth, and that market includes buyers and sellers of rural real estate of all kinds. The values are reflected in the motivations of buyers and sellers, and these can often be transitional as an area becomes known for its recreational, hunting, and scenic beauty. Over the decades, we have seen a gradual shift in highest and best use of rural lands from agriculture to rural recreational investment, and even development near larger population centers. Keeping a finger on the pulse of the market is essential to our business.
Because Montana and Wyoming are nondisclosure states, sales values are not generally reported and there is no public record regarding such information. The Appraisers make a diligent effort to ascertain and confirm the circumstances and values of each sale used. Within our service area developing relationships with other real estate professionals is imperative to gathering sufficient data to complete assignments. We strive to continue to develop these types of information sources by exchanging information and developing long-standing dialogue with appraisers, real estate brokers, and many other financial professionals throughout both states.
Our appraisers adhere to the highest standards of education, certification, and accreditation. In order to maintain a certification or license an appraiser must take continuing education every two years to comply. Our appraisers often go above and beyond the education requirements in order to keep current on trends in the industry.
Kim C. Bennett, Ph.D., is an Accredited Rural Appraiser (ARA) Member of the American Society of Farm Managers and Rural Appraisers (ASFMRA). The ASFMRA has been a successful appraisal organization providing high quality education and accreditation since 1929. They are headquartered in Denver, CO and have chapter members in every state in the nation, as well as, Canada and Mexico. Becoming accredited adds one more level of professionalism to the background of our associates.