- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- North Carolina
I'm working on a lot appraisal refi and the subject property sold just last year. The lot adjacent is now under contract but doesn't close until the end of this month. I have one comparable lot sale just a block away that sold last month for $70K less than my subject! The third best sale that I have is a mile away with same zoning, but is not in a subdivision and is 3 times the size of my subject lot. The big range in values is causing me to consider if it might be a good idea to throw in the subject prior year sale, just to give some direction to this situation. Oh, and tax value was set in January 2016 at less than half of what the borrower paid for it. Crazy.