Recently Dr. Charles Gilliland and Dr. Erin Kiella made a visit to Paris, Texas, to conduct research on appraisal issues, property rights, rural land markets, property taxation, water marketing and other associated issues on rural and agricultural real estate in Lamar County.
Their host for the visit was Renee Harvey of Century 21 Harvey Properties. Dr. Gilliland currently holds an appointment as a Research Economist with the Real Estate Center in the Mays School and an appointment as Adjunct Associate Professor of Agricultural Economics at Texas A&M University. Dr. Gilliland has contributed expert testimony before the United States Senate, Texas Senate and the Texas House of Representatives.
Dr. Kiella is a real estate analyst and consultant for Real Property Analytics and an assistant research scientist with the Real Estate Center at Texas A&M University. Her research focuses on rural land market trends and valuation, lending and the stability of the agricultural market, and building
econometric models to better understand and predict changes in the market.
During their time in Lamar County, the group toured and focused on rural land, trends and market drivers.
“The goal was to visit Paris and the surrounding areas to see what’s going on, what’s changing as Paris is the hub for rural real estate in the area,” stated Dr. Erin Kiella.
As they toured the county, Renee Harvey pointed out, “oddly enough if you look at the population of the city of Paris, we have had some stagnant growth. However, if you look at a broader county scope, there is good growth and there is change.”
“The real take away from the tour was the PPF Gin & Warehouse,” said Kiella. “This unique cotton gin is working toward vertical integration to find better efficiencies and with that, it could lead to more jobs for the area.”
The group also visited the Lamar County Chamber of Commerce and the Paris Economic Development Corp.
The year-end data is still being compiled, however, if you look at the 3 rd quarter data, the real price per acre in 2017 was $655 as compared to the 2018 price of $723 per acre.