Archive for Wednesday, March 8, 2000

Property values increase

Construction, home sales fuel higher appraisals

March 8, 2000

A robust real estate market in Leavenworth County has fueled an increase in property valuations.

According to Donna Graf, county appraiser, new construction and increases in selling prices account for much of the 7.13 percent increase from last year. In 1999, she said, the county's property was appraised at $3,221,126,575. This year, that amount is $3,450,730,558.

That includes residential, which increased about 7 percent; commercial, which increased about 9 percent; and farm property, which increased about 11 percent.

New construction played a large role in the commercial increase, Graf said. But more was at work concerning residential property.

"The new construction is one thing," Graf said. "And it's the sale value. I know people are going to be shocked at what their values are. We have an influx coming in from Johnson and Wyandotte counties. When I put my property up for sale for $100,000, and I get $100,000, it's a seller's market. Used to be, you'd say $100,000 to get $93,000 or $94,000. There is no negotiating right now."

The construction of the NASCAR track has driven land prices up, along with city dwellers seeking rural housing sites.

Graf said she's watched the trend for several years and believes it's not just a fluke.

"It just keeps going," she said. "You can see it. You know it. You have so many things happening. You have NASCAR. We're seeing so many changes that we're trying to be careful to make sure it's a trend that lasts."

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