Land or Site Valuation

Under which condition is the land residual technique most applicable?

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

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?

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

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:

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?

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?

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

Which unit of comparison best suits a lakefront residential lot?

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?

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

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?

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

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

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 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?

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:

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

An appraiser is valuing land for a proposed townhouse subdivision using the subdivision development method. The site requires a $350,000 environmental remediation cost that will be incurred 6 months after project commencement. The developer’s required annual yield is 14%. What is the present value of the remediation cost to be deducted from gross lot sales?

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

A utility easement covers 20 percent of a site otherwise worth $300,000. The encumbered strip retains only 40 percent of its unencumbered value. What is the loss?

Two adjoining parcels are worth $200,000 and $150,000 separately. Combined they are worth $420,000. What is the plottage value?

A site contains 40,000 square feet and the building covers 10,000 square feet. What is the land-to-building ratio?

What is the principal weakness of the allocation method?

Which of the following is a legal rather than a physical characteristic of a site?

When applying extraction, which depreciation must be reflected in the improvement estimate?

In the subdivision development method, which cost category covers streets, drainage and utility mains?

Which characteristic would generally support the highest value per square foot for a site?

An improved sale closed at $600,000 with improvements contributing $420,000. What proportion of value does the site represent?

Site improvements cost $40,000 to install but add only $25,000 to what buyers will pay. What is the $25,000 called?

Agricultural land is being appraised where development pressure has begun to appear. What determines its value?