Appraisers' Free Forum

**Edd Gillespie** · Certified General Joined: 13 Aug 2007 Posts: 2282

Notice the absence of Ter. What is he doing, playing Santa Claus?
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Edd “In the real estate economy, there are no guarantees that reason will prevail in a market where emotions run high and the amount of misinformation runs deep.” Jonathan Miller in The Matrix. So what’s an appraiser to do?

**Goodpasture** · Posted: Mon Dec 24, 2007 11:32 am Post subject:

He's the expert. He knows better than to speculate without more information.
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You should wake up with a smile on your face.....that way you can get it over with early before you have to deal with the world

**Edd Gillespie** · Certified General Joined: 13 Aug 2007 Posts: 2282

Yeah. Neat to find an expert that knows when to shut up.
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Edd “In the real estate economy, there are no guarantees that reason will prevail in a market where emotions run high and the amount of misinformation runs deep.” Jonathan Miller in The Matrix. So what’s an appraiser to do?

**Annemieke Roell** · Posted: Mon Dec 24, 2007 2:09 pm Post subject:

**Ter Shields** · Posted: Wed Dec 26, 2007 9:56 pm Post subject:

**Edd Gillespie** · Certified General Joined: 13 Aug 2007 Posts: 2282

See there. A lesson in reserve. I thought he was refusing to surface and here he was toying with us under the ruse of being ill.

Reading between his lines, if the market doesn't value the surface fee differently from the fee simple then mineral rights are of no significance to the bottom line. Some clients may need to know unequivocally if the mineral rights are intact and who owns them. All due respects, but I still think that is a title problem rather than an appraiser problem, when the mineral rights have no market value, which is Annie's issue, I think.
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Edd “In the real estate economy, there are no guarantees that reason will prevail in a market where emotions run high and the amount of misinformation runs deep.” Jonathan Miller in The Matrix. So what’s an appraiser to do?

**Ter Shields** · Posted: Thu Dec 27, 2007 4:29 pm Post subject:

In Salina, there might be someone who has been offered a lease and/or know of the interest not far away in Mayes Co. However, the geology is not conducive to significant production. There is a small gas field that was drilled in the 40's on the south side of Choteau which isn't all that far from Salina. A tiny field near Pryor Creek, shallow fields all over west of there and even southwest of Choteau.

Persons in that area might think their mineral rights are great plus but they probably are not. On the other hand, the absence of the mineral would not be a great negative because that generally is a problem only when an uninvited oil company plants a rig on the property then all hades breaks loose.

**Edd Gillespie** · Certified General Joined: 13 Aug 2007 Posts: 2282

**Ter Shields** · Posted: Sat Jan 05, 2008 1:30 pm Post subject:

Insignificant, but not absent. If you express the opinion they are insignificant and there is no income or lease to support a conclusion to the contrary...that beats not mentioning them then have to 'fight the fight' over whether you forgot to add the value.
Sounds like the owners thought they did contribute value..
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The Chinese never ask about Price. They only ask about supply. - Prince Saud, minister SABIC

**Edd Gillespie** · Certified General Joined: 13 Aug 2007 Posts: 2282

I have no idea. Annemieke brought it up.
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Edd “In the real estate economy, there are no guarantees that reason will prevail in a market where emotions run high and the amount of misinformation runs deep.” Jonathan Miller in The Matrix. So what’s an appraiser to do?