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SUMMARY OF THE BASIS FOR JUST COMPENSATION (Continued) <br />Value of Parent Property, Before Taking: (Continued) <br />Sales Comparison Approach: (Continued) <br />Land Value: (Continued) <br />After viewing all of the sale properties, and obtaining certain information pertinent to land value, <br />the appraiser analyzed the various elements of comparability for each sale property (as compared <br />to the subject property) which, among others, include the following: <br />General location <br />Immediate environmental influences <br />Accessibility <br />Public utilities and sanitary sewer <br />Zoning, entitlements, if any <br />Size, shape, and plottage <br />Topographical characteristics <br />Site prominence /exposure <br />A Relative Comparison Analysis (RCA) has been conducted between the individual <br />comparable properties and the subject property. The RCA is a qualitative technique for <br />analyzing comparable sales, and is a valuable tool employed to illustrate whether the <br />characteristics of a comparable property are inferior, superior, or similar to those of the <br />property under appraisement. <br />The Relative Comparison Analysis is similar to paired data analysis. This technique <br />acknowledges the imperfect nature of the subject real estate market. The primary objective is <br />to bracket the subject property between the comparable sales with respect to the similarity, <br />superiority, and inferiority thereof. Superior elements of comparability of an individual sale <br />property would reflect a downward adjustment to the value indication thereof. Conversely, <br />inferior elements suggest an upward adjustment. <br />Additionally, it is important to note that the above elements of comparability were not assigned <br />equal weight in malting the analysis of each property. The general location, immediate <br />environmental influences, development density, vehicular accessibility, site conditions, site <br />prominence /exposure, and land plottage were considered the most important factors in the <br />subject case. <br />All of the sale transactions employed herein were considered helpful in the land valuation <br />analysis of the subject property. The purchase price per square foot of land area has been <br />utilized herein as the primary indication of value inasmuch as it is most commonly utilized by <br />market participants. The properties have been compared to the subject property with respect to <br />the various elements of comparability. <br />Following is a summary relating the overall comparability of the individual sale properties <br />employed in the subject land value analysis. <br />Continued .. . <br />75B -12 <br />