Posted by CL2 on September 25, 2003 at 13:37:30:
It depends on the market. Look around the area and see if there are any recent developments in the area. See if the land is near any schools or across any subdivisions under construction.
vacant land - Posted by Diane
Posted by Diane on September 25, 2003 at 13:30:21:
I would like to know if anyone knows what would a vacant land noteholder may get for a 3 acre piece of wooded land (unimproved). This land is part of a 40 acre lot. It is zoned for residential property.
Re: vacant land - Posted by Kristine-CA
Posted by Kristine-CA on September 25, 2003 at 18:09:03:
Diane: call a title company in the area where the land is located and ask for customer service. Ask for a property profile that includes comps for the property. Also talk to a real estate agent in your area. There is no comparison between a buildable vacant lot in Santa Barbara and a buildable vacant lot in Bakersfield. Well, actually, there is a comparison: one’s 500K and one is 5K.
Happy comping. Sincerely, Kristine
Re: vacant land - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on September 25, 2003 at 15:49:09:
Diane----------------
No. The value is dependent upon local conditions and local market values. If the property were subdividable and buildable and very close to a city with very high housing prices it would be worth a lot. If it were forty miles from any city in the middle of the central plains states, it would be worth very little.
You need to get your value information from local sources, not a worldwide website such as this one.
Good InvestingRon Starr**