- Dec 9, 2003
- Professional Status
- Certified Residential Appraiser
Both are the same then...dict of RE says properties have a HBU and a value in use- we use HBU for the MV opinion , is a HBU of the beach strip lot to sell with the dwelling ? Most of them can be severed and sold separately, but almost none of them are, even though an owner might get more $ for it... the people in Palm Beach Island have so much wealth a million more or less means nothing to them, they'd rather preserve the tradition and exclusivity of the beach strips convey with the house rather than selling it to an outsider.That's not a value in use. That is the HBU for those parcels.
that is one of the flaws in HBU as written - it assumes max productive/proift is the goal of ever owner or buyer and in some cases it is not.