n501man
Freshman Member
- Joined
- May 12, 2026
- Professional Status
- Real Estate Agent or Broker
- State
- North Carolina
Hi,
I wanted everyone’s opinion on what their method of valuation would be?
The subject property is 15 plus acres on the water with access from two roads, x flood zone and preliminary plans to make the whole property into a major subdivision(13 plus lots with water access)
Undisclosed easements were found with a neighbor property and now a diminution in value report is needed for the damages and loss of the use for the property.
The highest and best use is a residential development for this subject property because of the zoning and location. The easements directly affect and run through 6-8 lots that are to be developed, which make those parts of the property useless.
One report that was done for this property used comps of similar acreage size and used a price per acre style of methodology to determine the value of the lots. With that way the value of the lots are far below market value when comparing to sold comps of properties that are similar in size and undeveloped like the future lots would be.
Since those lots can’t be formed now wouldn’t finding a comp of similar size to the future lots be the most accurate way for valuation?
Any input in appreciated,
Thanks Nick
I wanted everyone’s opinion on what their method of valuation would be?
The subject property is 15 plus acres on the water with access from two roads, x flood zone and preliminary plans to make the whole property into a major subdivision(13 plus lots with water access)
Undisclosed easements were found with a neighbor property and now a diminution in value report is needed for the damages and loss of the use for the property.
The highest and best use is a residential development for this subject property because of the zoning and location. The easements directly affect and run through 6-8 lots that are to be developed, which make those parts of the property useless.
One report that was done for this property used comps of similar acreage size and used a price per acre style of methodology to determine the value of the lots. With that way the value of the lots are far below market value when comparing to sold comps of properties that are similar in size and undeveloped like the future lots would be.
Since those lots can’t be formed now wouldn’t finding a comp of similar size to the future lots be the most accurate way for valuation?
Any input in appreciated,
Thanks Nick
