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| I look at all M&E lists annually and adjust where needed. If farmer thinks the equipment is worth more I have him show me where. He always shows me what the local Dealer is asking for similar equipment. Then I show him what the most recent Auction sales price was. We then use a value closer to the auction price as that is a truer value. Asking price is just that an asking price. Actual sales price is many times much less. It was much different 5 years ago when you couldn't find a good used piece on the lot. No that way any more.
On RE we usually keep the values the same from year to year, unless we are doing a full restructure and need to get an appraisal to value the RE, then we will adjust RE values close to the appraisal to get a better LTV picture. | |
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Sat and bankers values
