Appraisals of land are typically done on a land specific form in which the appraiser compares the subject lot against other parcels that have been determined to be the most similar to the subject in terms of site size, zoning, location and view. These comparable sales are typically chosen from a list of all lots that have sold within the past six months.
If there are not any vacant land sales available within the subject’s immediate market area, then the appraiser must search outside of the immediate market area to locate other comparable sites or use abstraction methodology to determine the value of the land. The abstraction method is calculating the estimated value of other homes in the subject’s immediate market area and then deducting the cost to build the house, less depreciation. Once this is done, you are left with the land value.
Our appraisal assignments over the years have included some very unique land uses and property types. Our knowledge and experience in our market area, give us an edge that allows our firm to understand the clients needs and taylor the appraisal assignment specifically to the clients use. Whether the use is for litigation, financing, partnership dissolution, estate planning, acquisition and sale, eminent domain, asset management and proposed construction, or feasibility analysis, we can provide the appropriate valuation.
From our Livermore and Discovery Bay locations, RAI serves a diverse client directed market accepting valuation assignments throughout Northern and Central California from attorneys, CPA's, government agencies, lenders, individuals and corporations.
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Providing Real Estate Appraisal and Valuation Services since 1967