The Market Area Description page is a replacement option to the Classic "Area-Regional Description".  Valuing Rural America, American Society of Farm Managers and Rural Appraisers (ASFMRA), Denver, CO, 2019 Edition emphasized the term "competitive market area".  While seemingly a technicality, the point is the subject property type may dictate the competitive market is national or global.  Thus, the open, narrative style of the "Market Area Description" page for 2020 to allow the user that flexibility.


The top section has some of the same topics as the Classic "Area-Regional Description" page.  But, the bottom half of the check-box area can be customized to capture four items specific to the subject's competitive area types.  The approximate number of competitive sales (red box) is a new addition to the 2020 release.  In this example, those were cropland units, livestock units, recreational and rural residential tracts.



The bottom portion is narrative, again allowing the user to address those positive and negative elements of the social, economic, governmental, and environmental influences that directly impact the subject's value.  This space is not intended to be a repeat of the local Chamber of Commerce information, but sets the supply/demand basis for the highest and best use conclusions later in the report.



The comment at the bottom of the page more directly asks the question, "so what?", i.e., after viewing the presentation, a concluding statement could be made on how the information provided impacts the subject's supply/demand, highest and best use, valuation and the appraisal problem.