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SUMMARY OF THE BASIS FOR JUST COMPENSATION (Continued) <br />Value of Parent Property, Before Acquisition: (Continued) <br />Saes Comparlson Approaek: (Continued) <br />Land Value: (Continued) <br />After viewing all of the sale properties, and obtaining certain information pertinent to land value, the <br />appraiser analyzed the various elements of comparability for each sale property (as compared to the <br />subject property) which, among others, include the following: <br />General location. <br />Immediate environmental influences. <br />Zoning. <br />Vehicular and pedestrian access. <br />Vehicular and pedestrian traffic, <br />Land area. <br />Availability of public alley. <br />Overall developability, <br />Site frontage/depth ratio, <br />Site prominence and exposure, <br />Proximity to freeway, <br />Land configuration. <br />A Relative Comparison Analysis (RCA) has been conducted between the individual comparable <br />properties and the subject property. The RCA is a qualitative technique for analyzing comparable <br />sales, and is a valuable tool employed to illustrate whether the characteristics of a comparable property <br />are inferior, superior, or similar to those of the property under appraisement. <br />The Relative Comparison Analysis is similar to paired data analysis. This technique acknowledges the <br />imperfect nature of the subject real estate market. The primary objective is to bracket the subject <br />property between the comparable sales with respect to the similarity, superiority, and inferiority <br />thereof. Superior elements of comparability of an individual sale property would reflect a downward <br />adjustment to the value indication thereof. Conversely, inferior elements suggest an upward <br />adjustment. <br />Additionally, it is important to note that the above elements of comparability were not assigned equal <br />weight in malting the analysis of each property. The general location, vehicular accessibility, overall <br />developable density, site conditions, site prominence/exposure, and land size were considered the most <br />important factors in the subject case. <br />All of the sale transactions employed herein were considered helpful in the land valuation analysis of <br />the subject property. The purchase price per square foot of land area has been utilized herein as the <br />primary indication of value inasmuch as it is most commonly utilized by market participants. The <br />properties have been compared to the subject property with respect to the various elements of <br />comparability. <br />Following is a summary relating the overall comparability of the individual sale properties employed in <br />the subject land value analysis. <br />Continued .. . <br />75N-20 <br />