Land Value without Closed sales data

[Tiffany Gibbons]

Have you searched thru public records. With our MLS the public records search can be for vacant ground. Now this may not tell you much except for the sale price and lot size. But with earth google you can view it from the street, if you can find it.
With low land values, there can be land sales that don't go thru the MLS system.

Yes, our Assessor GIS will highlight recent sales, and then I look at the records and see if there was a trailer or an old house (drive by sometimes) that was removed. Ag land under 10 acres may have new homes and a subdivision on file now you just do research. That's what they pay us the big bucks for.

 

[Terrel L. Shields]

Ah, heck. Just guess. In Oklahoma, probably half the complaints will have issues with how they developed the land value, which is key to developing the cost approach. In either case, the land value should be supported with actual sales and those sales be identified.