A long time ago, an appraiser told me in a typical subdivision, in Nashville TN, that you could do a sales comparison approach, on a typical home, and take 20% of that, and you would be close on your site value. Almost a decade later, I find that this is often the case, in a well balanced real estate situation. I study this fairly closely, and keep a close watch on site sales, in my area. It seems to be a good sound economic reality. Occasionally I see a site value at 10% of the total, and this is where things might be OK, or could become very hairy. Today, I just got off the phone from an unpleasant conversation. The lady kept on and on about her Tax Card appraisal was $220,000 and she wanted to add a $50,000 detached garage. I gave her my theory if you are less than 10% on your site value, you have an overimprovment. The tax value of the site was $10,000. I figure it is really worth some $16,000. Needless to say, I hit the garage w' functional depreciation, and the entire property with external depreciation. I told the lady about an area where folks are paying $60,000 for sites, and spending a millions, and they too, have over improved their site. She seemed smart enough to understand, but finally told me to "Keep my opinion out of it :blink: :" Site value is the first thing I look closely at, to when I suspect there external or functional depreciation. Anybody want to discuss Site Values in your area, as a terms of percentage of the entire value?