A friend and I have been having an ongoing discussion about land values. It seems that there are many folks in Otsego County that are concerned about plummeting property values once natural gas development activities start. She was extremely concerned about not being able to get a 2nd mortgage on her home as a result of her neighbor’s potential gas lease (her neighbor has significant property and it can be assumed that in the event of a well pad on his property, the odds are that she will be integrated into a unit). I am not a realtor nor am I an appraiser. However, from my meager understanding of the topic, I gather that the hold up on appraisals on oil and gas leased properties has to do with not having the gas in place valuated. This appraisal from Bradford County that was forwarded to me gives me an idea of what an appraisal of a property with Oil and Gas assets might look like.