How do you treat this situation

[WadeKoutnik]

he message you have entered is too short. Please lengthen your message to at least 10 characters.

OK here is the original message. They deleted the wrong one...

Subject is in a high dollar golf community. I have plenty of sales from 10-12 months ago. However, the only ones within 6 months are not in public records. There are 4 of them where the buyers bought the land 2-3 years ago and then made a second transaction to build the home on the property that closed within the last 3-4 months.

Obviously, I would rather use the most recent sales, however, can I? and How do I determine the sales price or adjustment for land owned?

The sales office in the neighborhood is where I got my info from.

 

[Mike Boyd]

add numerous dots...............

 

[WadeKoutnik]

add numerous dots...............

LOL. read again.......

 

[Michigan CG]

Here is the original post:

Subject is in a high dollar golf community. I have plenty of sales from 10-12 months ago. However, the only ones within 6 months are not in public records. There are 4 of them where the buyers bought the land 2-3 years ago and then made a second transaction to build the home on the property that closed within the last 3-4 months.

Obviously, I would rather use the most recent sales, however, can I? and How do I determine the sales price or adjustment for land owned?

The sales office in the neighborhood is where I got my info from.

Sorry, I messed it up.....

 

[Mike Boyd]

Perhaps you started your response prior to the complete END of the message. I've had that happen and found (quote) below where I have typed my message.

However, the comps you say you would rather use are not arm's length transactions. They involve a land sale at some point several years ago and then a contract to build a house. That is not a market transaction.

 

[Elliott]

1234567890

 

[RSW]

Perhaps you started your response prior to the complete END of the message. I've had that happen and found (quote) below where I have typed my message.

However, the comps you say you would rather use are not arm's length transactions. They involve a land sale at some point several years ago and then a contract to build a house. That is not a market transaction.

Correct! I agree with Mike.

 

[Terrel L. Shields]

I'd make sure to point that out too in the report. The resales would be the real "market value" indicators. Don't let some reviewer play 'gotcha' and say you didn't find more recent sales.

 

[Mark K]

....then made a second transaction to build the home on the property that closed within the last 3-4 months.

Obviously, I would rather use the most recent sales, however, can I? and How do I determine the sales price or adjustment for land owned?

The sales office in the neighborhood is where I got my info from.

A transaction is not always a sale.

You should not consider the recent "transactions" as market sales/comparables. Use the "sales", not the assembled comps, i.e., the builders contract on a vacant lot.

 

[Pamela Crowley (Florida)]

What can you currently purchase a property there for? What are the current and expired listings?

No, you cannot create 'sales' from combined lots and building contracts.