Land or Site Valuation

Under which condition is the land residual technique most applicable?

What is the appraiser's obligation when a site's legal description does not match its apparent physical boundaries?

Why can the same physical parcel carry different values in two assignments?

A site differs from land in that a site is best described as which of the following?

In a built-up area where no vacant land has sold for years, which approach to site value is the usual fallback?

How is entrepreneurial profit treated in the subdivision development method?

A land comparable sold 18 months ago in a market rising about 4 percent a year. What adjustment direction applies?

Why does a developer's required profit rise for a longer subdivision project?

How does holding cost enter the valuation of land bought for future development?

Excess land is best described as land that has which characteristic?

Plottage value arises in which of the following situations?

Which of the following is an off-site improvement rather than a site improvement?

Vacant lots in a subdivision sell for about $80,000 while finished homes there sell for about $400,000. Applying that relationship to a subject home that sold for $525,000, what site value does allocation indicate?

In adjusting land comparables, which adjustment is normally applied before the others?

A site could support three legally permissible and physically possible uses, all financially feasible. What decides among them?

Mineral rights have been severed from a parcel and sold to a third party. What must the appraiser establish?

A downtown parcel's air rights are sold to an adjoining developer. What has been conveyed?

The allocation method estimates site value by:

A building cost $800,000 new and has accrued depreciation of $200,000. The land value is $150,000. Using the extraction method, if the property sold for $720,000, what is the indicated land value?

A deep backyard that cannot be subdivided under local zoning is:

A 12-acre tract loses 20 percent of its area to streets and drainage, and zoning permits four lots per net acre. How many lots can be platted?

How does the availability of public sewer generally affect a residential site's value compared with requiring a septic system?

A site sits in a designated flood hazard area. What is the most likely valuation consequence?

A corner lot in a retail district often sells for more per square foot. What most commonly explains this?

A site's zoning permits a use that the market does not currently demand. What follows?

A tract will yield 40 lots selling at $80,000 each. Development costs are $1,200,000, sales and marketing run 8 percent of gross, and the developer requires a 20 percent profit on gross. Ignoring discounting, what land value is indicated?

The subdivision development method is most appropriate for valuing which kind of holding?

Which unit of comparison best suits a lakefront residential lot?

Which site valuation method is generally the most reliable when sales of comparable vacant parcels are available?

When valuing a site, the appraiser must consider its highest and best use on what basis?

A property sold for $525,000. Improvements had a replacement cost new of $390,000 with 30 percent accrued depreciation. What land value does extraction indicate?

Why is extraction generally considered more reliable than allocation?

Net operating income is $240,000 and the building, worth $1,500,000, is capitalized at 9 percent. Using a 7 percent land rate, what does the land residual technique indicate?

A homesite includes an extra strip too narrow to build on but useful as a buffer. How is that strip best characterized?

In a neighborhood where land typically represents 22 percent of total property value, a house sells for $425,000. What does the allocation method indicate for the site?

Why does extraction become unreliable when the improvements are new and substantial?

What is the principal limitation of the land residual technique?

A steeply sloping parcel has only half its area usable for building. How is this best reflected?

In a ground lease, what interest does the landowner hold?

Two subdivisions have identical gross lot sales and identical costs, but one will sell out in three years and the other in six. What follows for their land values?

What is the purpose of a site analysis within an appraisal?

A proposed subdivision site has frontage on two non-parallel streets, resulting in irregular lot shapes and varying depths. When estimating lot values for the land residual calculation, the appraiser adjusts comparable lot sales using depth tables. Which principle most directly supports the use of such adjustments?

A ground lease was signed twenty years ago at rent well below today's market. What follows for the leased fee value?

A tract yields 25 lots at $95,000 each. Development costs are $900,000, marketing is 6 percent of gross and required profit is 18 percent of gross. Ignoring discounting, what land value is indicated?

A comparable land sale was purchased by an adjoining owner completing an assemblage. How should the appraiser treat it?

A height limit is reduced from six storeys to three in a downtown zone. What is the likely effect on land values there?

Why is the subdivision development method sometimes described as a test of feasibility rather than a valuation method?

In the land residual technique, income attributable to the land is found by:

What distinguishes the building residual technique from the land residual technique?

How should excess land be valued within an appraisal of the whole property?