George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
"As Improved" refers to properties with existing improvements. "As Vacant" refers to sites with no significant improvements.
If you had a site with small house located in a neighborhood that would economically support larger houses, the "as Improved" HBU would probably be that existing use so long as those improvements still have contributory value. Conversely, the "as vacant" HBU would probably be one of the larger houses.
There would be completely different buyers for the property depending on whether those improvements still do or don't have contributory value. If they do, then your typical buyer would be an owner-user of that existing house. It the existing improvements have no value then your typical buyer might be a developer or a owner-contractor.
If you had a site with small house located in a neighborhood that would economically support larger houses, the "as Improved" HBU would probably be that existing use so long as those improvements still have contributory value. Conversely, the "as vacant" HBU would probably be one of the larger houses.
There would be completely different buyers for the property depending on whether those improvements still do or don't have contributory value. If they do, then your typical buyer would be an owner-user of that existing house. It the existing improvements have no value then your typical buyer might be a developer or a owner-contractor.