Specific Site Adjustments Versus Adjustment Factors

[J Grant]

Thanks for all the input. Very helpful. Ended up running land sales around each sale and comparing aggregate site value to aggregate site value as prescribed. It's still an estimate no matter how much you dig, and that's what drives me nuts about this work. I want to be "right".

As far as being "right", you, me, or any of us have to develop a tolerance that we can only be as right as our best research and judgement allows. A key to being "right", in the sense your MVO $ amount is what a typically motivated buyer should pay after you've done all your adjustments, is where does your subject ranks? Is your subject a superior property, an inferior property, or a medium property ? Leading to where you would opine, at the top, mid point, or lower end of the value range of the comps. Look at both un adjusted prices and adjusted values for that.

If you the subject has a strong positive but then a strong negative that cancels the other out , that makes it a "medium" property...such as if your property is one of the largest sites ( positive) but is located further from town (negative,) ...is different than if your subject is one of the largest sites and close to town...always look to the intrinsic qualities of the subject to make the opinion as "right" as possible.