20D - AA VACANT LAND PURCHASE - Laserfiche WebLink

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VALUATION ANALYSIS (Continued) SALES COMPARISON APPROACH: (Continued) Land Value. (Continued) Elements of Comparability: (Continued) to housing, schools, employment centers, transportation facilities, as well as quality of public services, proximity to freeway corridors, enforcement of codes, and median income levels. Immediate Environmental Influences: Considered with respect to the density and quality of existing developments within the immediate proximity to a specific property. By contrast, immediate environmental influences represent a myopic consideration of location as opposed to more generalized characteristics considered with respect to general location. Vehicular Accessibillty: Multiple family residential properties rely heavily on the ease of vehicular accessibility. Generally, corner locations with multiple access points command higher values than interior parcels having single point ingress/egress. Developable Density. The overall developable density of a particular property has a significant impact on the underlying land value of residentially zoned parcel. A direct relationship exists between density and the purchase price per square foot of land area, i.e. higher densities typically reflect higher rates on a per square foot basis. Conversely, there is an inverse relationship with respect to the purchase price per developable unit. Higher densities typically result in a lower per unit value. The purchase price per square foot of land area has been utilized as the primary unit of analysis due to the wide range of developable densities among the sale properties employed herein. Developable density has been assigned particular consideration. Site conditions. This factor is considered with respect to the condition of the property at the time of the sale. While certain properties are acquired based on the underlying land value, often times LIDGARD AND ASSOCIATE S APPRAISE" -CONSULTANTS 9 20D-47