Value of undeveloped land?

We own 22.5 acres of land and would like a realistic asking price.
  • June 03 2014 - Town of Hillsborough
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Answers (4)

I would suggest an appraisal in addition to talking to local Realtors..... You could use this link to find one in your area. 

Land appraisals are fairly complex depending on many issues....22.5 acres near me would be valued in the millionis....

 
  • June 09 2014
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The value of land is not as easy as it is to determine on a home. You can value the lot as it sits, with no structures, no approvals, not subdivided and then if it is buildable or not. The availability of utilities can also affect value. How many lots you could subdivide may add to value as well. if the property is flat, wooded, rocky or wet also affects value. If you would like an opinion of value I can certainly assist you. Please feel free to contact me.

Scott Godzyk
Godzyk Real Estate Services
email:sctprop@aol.com
  • June 09 2014
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I echo the same sentiments as the agent below however, make sure that these Realtors have experience in dealing land contracts.  Let me know if you need help in searching for a Realtor in your area.  
  • June 03 2014
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Hi,

I would suggest asking 3 independent realtor companies to provide you with a CMA free of charge.  Land is especially tricky as there are not alot of comps usually.  If you call a few companies, often there is a Realtor who specializes in land that could assist you.  Land in some areas is recovering slower than homes.  The local Realtors will know best because every area varies so much.  Lenders often are not lending on land so if you can offer seller financing combined with a significant buyer down payment of at least 20% to 50%, that might help attract more buyers.
  • June 03 2014
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