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John A. Weeks III wrote:
> In article <1146325724.854361.121400@y43g2000cwc.googlegroups.com>,
> "John Mianowski" <spamfree@skytex.net> wrote:
>
> > > > I am looking for any information on how to correctly determine the value
of
> > > > the empty lot, so I can bid accordingly.
>
> > County tax records might be a place to start.
>
> That is the last place you want to look. Accessed value and
> market value have no relationship to each other. The value
> of an empty lot is mostly how badly someone wants it or how
> badly someone needs to sell it.
>
The value of anything is what somebody else is willing to pay for it.
Anything else is speculation, at best.
Around here, the tax districts generally get it pretty close. Some are
better than others, but where they're off it's usually by a consistent
proportion. It is not that hard to correlate the market value
determined by the tax appraiser to what might be realistic to expect at
a sale. "Assessed" (not "accessed") value from the tax district can be
compared to actual sales for a number of similar properties, to see how
far off they are. Apply the deviation in reverse to the subject
property & at least you have something.
Like I said, it's someplace to start (not necessarily finish).
JM
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Re: Relative land value?
