Equestrian Real Estate Appraisal Services

Tracy Theran is an expert in appraising equestrian properties of all sizes. Cross Country Appraisal's experience includes income-producing boarding facilities with 20+ stalls, indoor riding arenas, outdoor riding arenas, multiple outbuildings and sheds, cottages or apartments, and single-family homes on large parcels of land. We routinely value smaller horse farms for private enjoyment or hobby farms for various purposes, including decision-making, estate management, or private sales.

A barn at sunset in North Carolina
Indoor equestrian arena

As a Certified General Real Estate Appraiser, Tracy understands horse farms' unique features and intricacies. Over the last 20+ years, she has assisted financial institutions, buyers, attorneys, real estate brokers, and investors by providing them with accurate, detailed equestrian appraisals. As an avid rider, her commitment stems from professional proficiency and a deep personal connection to the equestrian discipline. Tracy was a competitive 3-day event rider for many years, currently rides a New Zealand sport horse, and is building a five-acre private horse farm in Waxhaw, NC.

We understand and are current on the equestrian real estate markets in North Carolina and South Carolina. Every appraisal is different, so fees are quoted on a per-job basis. Generally, prices depend on the complexity of the assignment. We have completed many appraisal assignments for financial institutions that are partnered with the U.S. Small Business Association (SBA).

Outdoor Dressage Arena

Sample Appraisals

Tracy is knowledgeable about the unique characteristics of horse farms, such as fencing, indoor and outdoor arenas, barns, and essential infrastructure.  She understands and is up to date on the equestrian real estate markets in North Carolina, South Carolina, and Massachusetts.

  • Boarding facility with 44 stalls, an indoor arena, an indoor round pen, hay barn, equipment building, six apartments, two outdoor riding arenas, multiple paddocks, and a separate barn on 250+ acres
  • Private farm with a 3,500+ square foot executive home, 8-stall barn, and 9 turnout paddocks on 20+ acres
  • Racehorse farm with an estate home, a guest home, a 2-unit apartment building, two barns, turnout sheds, and numerous paddocks set on 40+ acres
  • Private horse farm on 20 acres that included a 4-stall barn, 3-car garage with an apartment above, pool, 100 foot x 200-foot outdoor arena, and two abutting buildable single-family home lots
  • Private equestrian estate with a lakefront hunt box (residence and barn attached) located on 48+ acres, pool, two barns with 20 stalls, hay barn, multiple pastures, two outdoor riding arenas, indoor riding arena, cross country jumping course and extensive infrastructure
  • Barndominium – Dual-purpose structures that include living quarters and an area dedicated to hobby space such as a garage or horse stalls.