Michigan CG
Elite Member
- Joined
- Nov 1, 2006
- Professional Status
- Certified General Appraiser
- State
- Michigan
I am appraising 8 acres of vacant land in BFE.
I have one comparable that is in the same township that sold less than a month ago which is 9 acres. I have to use it.
The problem with the comp is that you have to build a 20 foot bridge over a drain to access the land.
So, driving down the road I see a newer house with a bridge. I stop and interview that owner and he built his own bridge with a cost of materials and equipment rental at $28,000; he did the labor himself.
BUT, his bridge is an overimprovement and can carry 100,000 lbs.
I think I am going to check for building permits for bridges but I would guess those would be few and far between.
I simple little land appraisal takes a turn.
I have one comparable that is in the same township that sold less than a month ago which is 9 acres. I have to use it.
The problem with the comp is that you have to build a 20 foot bridge over a drain to access the land.
So, driving down the road I see a newer house with a bridge. I stop and interview that owner and he built his own bridge with a cost of materials and equipment rental at $28,000; he did the labor himself.
BUT, his bridge is an overimprovement and can carry 100,000 lbs.
I think I am going to check for building permits for bridges but I would guess those would be few and far between.
I simple little land appraisal takes a turn.
