Land appraisal with extenuating circumstances

[ccpanel]

look for the value of 100 year lease sales. federal land is often transacted with existing or continuing 100 year leases on NF or BLM land

 

[mp2277]

I appraise a lot of land. I can almost guarantee there are other parcels in the area with similar or comparable zoning that have sold. Perhaps lacking the deed restriction, but even without the additional limitation or a different minimum lot size, another vacant parcel with no structural improvements is going to be more directly comparable than a property with an SFR + surplus.

No offense intended but it looks like this one might be a little bit beyond your grasp. If you want some help on it you could drop me a PM with the County and APN and I can take a look around for you. Just between us.

Thanks but you are wrong and I don't think I need assistance from someone who thinks "almost guarantee" is a valid concept. Kind of like being almost alive or almost pregnant. And no offense but I think you are confusing zoning with deed restrictions.

 

[George Hatch]

Similar utility is similar utility regardless of the mechanism. Not just for land parcels but for many other property types as well. "Legally permissible" is only one filter in an HBU analysis. There are others, such as floodway land or extreme topo or too distant from access or utilities.
And using SFRs with surplus land to support the value of a freestanding lot is going to be a last resort.

Lastly, what's acceptable for this assignment is what an appraiser who appraises properties like this would do. Not what someone would do who doesn't know how to do it. That broker you asked might not know how to value this property either.

 

[mp2277]

Similar utility is similar utility regardless of the mechanism. Not just for land parcels but for many other property types as well. "Legally permissible" is only one filter in an HBU analysis. There are others, such as floodway land or extreme topo or too distant from access or utilities.
And using SFRs with surplus land to support the value of a freestanding lot is going to be a last resort.

Lastly, what's acceptable for this assignment is what an appraiser who appraises properties like this would do. Not what someone would do who doesn't know how to do it. That broker you asked might not know how to value this property either.

The harder you try the more you fail. You act like you're getting paid by the word in this response. You said all of that to basically say nothing relative to the conversation. Also, where did I say "that broker" was asked or offered any opinion whatsoever concerning the value of the property?

 

[sputnam]

One of the things I see... more so with less experienced appraisers... is the attitude that 'comps' always means 'good comps'. I've been an appraiser for almost 40 years. I've never encountered a situation where there was really no data. There have been lots of times when the available data kinda sucked... or sometimes, really sucked.

 

[mp2277]

One of the things I see... more so with less experienced appraisers... is the attitude that 'comps' always means 'good comps'. I've been an appraiser for almost 40 years. I've never encountered a situation where there was really no data. There have been lots of times when the available data kinda sucked... or sometimes, really sucked.

Well good for you and your vast and all encompassing knowledge and experience. Go to Montgomery County VA GIS and put all of that experience to use and find 50 +/- acres with no road frontage, only accessible via easement, that cannot be developed in any way... no building, no public utilities, and no permitted use but hunting and fishing and find your data and then show this upstart inexperienced young'n how it's done!

 

[Terrel L. Shields]

Most rural tracts here are either not zoned or loosely zoned. I just finished a 3 lot sale (18k SF) and found 3 comps of 3 lots in the same town. The town does not have zoning. Similar lay was about all that mattered. My FV was 3% above the contract price.
The county next door does not have a town with zoning. But it only has 2 towns and a couple of small villages. Whatever.

The last zoned tract I looked at was a PITA, cut by a flood zone, and trying to rezone to a higher zoning class. Salles of flooded plains - zero comps. Before that I valued some tax sale tracts that were virtually unusable and worthless - one landlocked, one a dead village from the 19th century - a lot on a creek bank; and, an irregular parcel that was unbuildable. Less than $100 each.

 

[George Hatch]

I wasn't trying to antagonize you. I was just trying to help you out.

 

[JTip]

Using your Montgomery GIS, I found several large parcels along I-81 with limited/no access in less than a minute (first minute is free).

Go old school and fly down the interstates or new alignments/extensions constructed in the past decade looking along the road for remnants or landlocked parcels.

As George said, there are sales out there, and I agree.