As a commercial appraiser in the great State of Kentucky, part of my job is to analyze local economic trends. We’ve all seen the ghost towns in rural areas as the population migrates towards more urbanized areas of the state. Needless to say, this trend wreaks havoc on the value of the commercial real estate left behind. Conversely, some less populated areas are thriving with strong job and population growth.
As you saw in the map from a previous post, the strength of the local economy can be ranked and quantified to provide a snapshot of the economic health of an area. As a commercial real estate appraiser, noting these trends can help me formulate an opinion of value. And if I’ve done my job as an analyst, defending my opinion won’t take much convincing. I merely need to present the data in a meaningful way. You tell me, in which county would you rather own commercial real estate?
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