AN EXPERT OPINION
A Preeminent Real Estate Appraisal
by Tom Gilbertson
Tom’s knowledge of the Magic Valley real estate markets is extensive as he has reviewed appraisals and completed property evaluation reports in all parts of Idaho, but primarily in the counties of Gooding, Camas, Blaine, Lincoln, Jerome, Twin Falls, Cassia and Minidoka which make up the area known as Magic Valley. He was a member of the Appraisal Institute for many years and over the period of 36 years has taken many classes involving the appraisal of real estate. The Magic Valley today is a much different place than it was in 1978 when Tom started his career. Tom witnessed firsthand most of those changes including patterns of growth, development, and market trends of real estate during those exciting years of growth for this part of Idaho.
In the last four decades of valuing real estate and the study of markets in South Central Idaho, I believe that for the first time I have been asked to value a property that may be truly priceless. The geology of Devil’s Corral is evidence of the Bonneville Flood that formed much of the magnificent Snake River topography 14,500 years ago. An appraiser would be challenged to value incomparable land such as this. The land’s uniqueness is itself impossible to duplicate. An appraiser can only detail individual characteristics to arrive at a value for a one of a kind priceless treasure.
My involvement here is to express my professional opinion in evaluating this property as a banker and real estate expert for the purpose of giving an investor/ purchaser an honest and professional platform to establish value. The total area of the unique parcel, historically called “Devil’s Corral” in Twin Falls local lore is two hundred acres. Currently in its natural, virgin state, it is accessed through the Bureau of Land Management’s adjoining 8,000+ acre park. The Devil’s Corral has potential for development on 80 of the 200 acres. Residential home sites, commercial resort, equestrian use and other recreational can be considered.
The balance of the property, 120 acres, consists of a lake, beautiful cliffs, streams and breathtaking views adding to the overall effect of the natural, spectacular beauty surrounding the initial developable acreage. This value of this acreage after road costs, power, water, sewage are subtracted would add substantially to the overall project.
On the south side of the Snake River/Twin Falls side of the property, are a number of residential developments. Private homes on that side of the rim are priced in well over $1,000,000 range.
The above property map shows proposed one acre lots for a portion of the property but has not been approved yet.
May 11, 2021
Devil’s Corral Engineering Comments:
Recent modifications to the Jerome County Comprehensive Plan will allow Devil’s Corral to host a multitude of recreational and residential uses allowing for the full use of the many physical and geological resources on site. No other private property in Southern Idaho offers the splendor offered by the Devil’s Corral complex including not only the 200-acre private site but the thousands of public acres abutting the property and offering access to some of Idaho’s most breathtaking sites. Pristine free flowing water emanating from the property is capable of providing for the needs of over 290,000 people.
Only 5 miles from a community of 50,000 people but providing a sense of complete solitude, the Devil’s Corral site is unmatched in the northwest and, due to its proximity within publicly owned property will likely remain this way forever.
Chief Engineer for Devil’s Corral
For more info please
Contact Barrett Molter
at (208) 720-4051