Mike Browning

Tag: Land Pricing

  • The World As It Is

    The World As It Is

    Things work a lot better when you align yourself with reality, instead of expecting it to conform to you.

    Some people spend a lot of energy being offended by things that were never about them.

    Someone says something careless. Or acts a certain way in public, or online, or at work. And someone else sees it and decides it was aimed at them personally. Now there’s a problem to solve. A wrong to correct. A wound that needs acknowledging.

    A lot of times the other person wasn’t thinking about them at all.

    People are self-absorbed, although usually in ordinary, harmless ways. They’re worried about their own day, their own bills, their own kid’s homework. The comment that landed wrong, the look that seemed pointed, the rule that felt unfair. Most of it is just noise other people are making while they live their own lives. It only becomes about you if you decide it is.

    Obviously I’m not saying bad behavior doesn’t exist. People are rude and small and unfair plenty. As the saying goes, some people are just jerks.

    But there’s a difference between noticing things and letting those things ruin your day, or organizing your life around the idea that the world should have treated you a certain way and now owes you something for not doing it.

    That’s exhausting. And it doesn’t change anything. Whatever happened still happened. All that’s changed is you’ve spent the afternoon carrying it around.

    The people who do best are the ones who deal with the world as it actually behaves instead of how they wish it did. And move forward accordingly. That doesn’t mean you can’t be disappointed at times, but it happens to everyone.

    This is one of those concepts you see everywhere once you notice it for the first time.

    A seller looks at their property and decides what they want it to be worth. Based on what they put into it, what they need out of it, what the neighbor claimed his sold for at the mailbox. None of that is the market. The market doesn’t know what you need and doesn’t owe you a number.

    You can list at an unrealistic number you wish were true, but I don’t recommend it. Buyers will simply ignore you, politely or not, and the property sits.

    You can price it at what the market will actually pay, today, with the buyers who actually exist, and move forward. Or you can wait. And maybe later things will be more to your liking.

    Both are real choices. Waiting for the market to come around to your number may be the right call. Nobody knows the future, but in north Texas land has tended to rise over time. If you’re not in a hurry, or don’t need to sell, it might be the best choice.

    But the market isn’t being unfair to you for not acting like you wish it would. It isn’t being anything. It’s just being a market.

    PS-Most landowners aren’t trying to figure out a number today.

    But when the time comes, the ones who already understand what the market is actually doing make better decisions than the ones still arguing with it.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get It Here

    PPS- If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

  • You’re Better Off Knowing, Even If It Hurts At First

    You’re Better Off Knowing, Even If It Hurts At First

    Tax value is not the same as real value.

    Last week I put together an MBR Land Reality Check for a Collin County acreage owner.

    I went through the comparable sales, looked at the utility situation, and worked through it the same way I would if it were coming to market, whether it actually ends up happening or not.

    The projected value range came in meaningfully below what the county currently has it assessed at.

    That’s something I’m seeing more often lately.

    For a long time, if you saw a rural tract priced at or below tax value, it at least got your attention. It didn’t always mean it was a deal, but it was usually worth a closer look.

    That’s not as reliable as it used to be.

    In a number of cases now, especially with more rural acreage, tax values appear to have caught up to, or in some cases moved ahead of, where the market would actually transact.

    It’s likely a function of the way values moved over the last several years.

    At the same time, most of these properties carry an agricultural exemption. So while the assessed value may be high on paper, the owner isn’t being taxed on that number.

    Which means there’s very little incentive to challenge it.

    If anything, it tends to have the opposite effect. A higher assessed value feels like a positive signal, even if it doesn’t reflect what a buyer would actually pay.

    That can create a disconnect.

    And in some cases, it matters more than people realize.

    If an agricultural exemption is removed, rollback taxes are calculated based on the assessed value. If that number is higher than it should be, the exposure is higher as well.

    I’m not going to get into the mechanics of that here.

    And to be clear, I’m not an appraiser. The MBR Land Reality Check isn’t designed for use in a property tax protest. If that’s the objective, a tax consultant or appraiser is better equipped for it.

    But that doesn’t mean you shouldn’t allow yourself to understand what your property might realistically be worth today.

    If nothing else, it gives you context.

    You don’t have to sell. You don’t have to even consider selling.

    But things change.

    And it’s a lot easier to make a good decision when you already understand what you have than when you’re trying to figure it out under pressure.

    So the question isn’t whether you’re planning to sell.

    It’s whether it makes sense to know where things stand.

    PS – Most landowners aren’t planning to sell right now.

    But when something changes, the ones who already understand what they’re dealing with tend to handle it better than the ones figuring it out on the fly.

    That’s what the MBR Land Reality Check is for. It looks at actual sales, what’s competing, and the things that quietly push value one way or the other.

    Is it a bad idea to know where things stand?

    Get yours here.

    PPS – If you’d rather just keep an eye on how this works, you can sign up below and get these posts in your inbox.

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  • The Only “Market Update” That Matters

    The Only “Market Update” That Matters

    You don’t need charts to know the truth.

    Everyone loves to talk about the market.
    What it’s doing.
    Where it’s going.
    Whether we’re at the top or bottom or just stuck.

    The problem is, most of that talk isn’t useful.

    I don’t say that as someone who ignores the data.
    I look at comps daily. I track sales activity. I live in this stuff.

    But if you’re an actual property owner, here’s the real market update:

    If your property hasn’t sold, the market is telling you something.
    And if someone else’s has, that’s telling you something too.

    Everything else is background noise.

    If your lot’s been sitting for six months with no real interest, I don’t care what direction the arrow is pointing on a graph, your market isn’t “hot.”

    And if three similar tracts sold while yours didn’t, you’ve got a pricing or positioning issue. Not a timing one.

    That’s the only update that matters.

    PS – If you’ve got land or acreage and want to know what it’s actually worth in today’s market, not just a guess or a Zillow estimate, I offer a free, no-obligation valuation.

    It’s based on real comps, local market knowledge, and actual experience in non-residential deals.
    Land is different than residential. Not rocket science, but most residential agents don’t know what they don’t know.

    The report is concise and practical. You’ll walk away with a clear picture of where you stand and what your next move could look like.

    Even if you’re not ready to sell yet, the time to start preparing is before you’re under any pressure should something change.

    Is it a bad idea to know where you stand?

    PPS – You can request yours here:

    Get Started

    And if this was useful, feel free to forward it to someone who might need it.