Linkage for subdivision.

[Jim Bearden]

Bill you're right land does not depreciate but an external influence will diminish the value of the land compared to one that does not have that influence.

Two homes on a railroad track do not suffer EO because both have the same influence. If they are are in the same area one is either over built or underbuilt so that may be functional and that is functional.

I hate that definition as it is not well thought out.

Different example a developer buys two lots one next to a freeway the other 5 blocks away with no noise. He then builds two identical homes because the market changes he can only sell for cost. So if your theory is correct the affected home will sell for less than cost. But because he paid less for that lot he breaks even on both.

 

[incognito]

Jim, I would have to respectfully disagree with you on most points. However, it seems as if the original poster has solved his dilemma, so I hate to debate it in this thread. I would love to exchange ideas, though, if you wanted to bring it up in a new thread!

 

[Robert Hronek]

Thank you for the input, although I'm having trouble following some of the posts. I have concluded that I will make adjustments based on location and arrive upon my adjustment through research of competing neighborhood lot sales versus my subject neighborhood lot sales. This keeps all comps used on an even field and adjusts for the ext.obsc. under location with all supported very well through addenda. It actually comes out nice and makes good sense.
Thank you
--JW

Justin

If you neighborhood has not had any activity for 2+ years how are you going to compare site value. Has everyone quit by lots and building? It is possible you neighborhood has some problems. If you know any agents that work the area call them up and talk to them. Find out what is going on.

 

[Jim Bearden]

A miss post sorry