Education Calendar

Date: 06/2/16

What Developers Know about Land that Appraisers and Real Estate Sales Agents Don’t

July 13, 2016
9:00 AMto5:00 PM

LAND FOR SALE! You Can Build Anything You Want On It! Really?!

What Developers Know about Land that Appraisers and Real Estate Sales Agents Don’t

 

Land and site valuations have a number of unique factors that the Appraiser/Agent must take into consideration during an evaluation. Can you build anything you want on any parcel of land? Not necessarily. Land development today involves a comprehensive set of evaluations and approvals involving multiple parties in both private and public sectors. This 7-hour CE course is designed to provide a general overview of how Highest and Best Use relates to evaluating site potential.

 

I.               Introduction

 

How to differentiate between Land and Site

·                  Land and Site Definitions

 

II.             Locating Properties in the Field

 

How to relate a tax map to a prominent structure, road, or natural feature to accurately locate a property

·               Tax Map

·               Aerial View/Computer Maps

·               Scaled Distances and Odometer/GPS/Compass

 

III.           Site Analysis

 

Site analysis involves identifying characteristics and determining the site’s usefulness

·               Legal Description

·               Determining Boundary Lines

·               Terrain

·               Soil Conditions

·               Identifying Rights

·               Private Restrictions

·               Easements

·               Taxes

  • Flood Hazards
  • Adjacent/Adjoining Land Uses
  • Zoning
  • Summary

IV.           Site/Government Constraints and Opportunities

Various physical, governmental and legal, economic, and social forces may impact the valuation of the site

 

·               Zoning

A.            Permitted Uses

B.             Non-Conforming Use

C.             Area vs. Use Variance

D.            Zoning Permit and Certificate of Compliance

E.             PUD Law

 

  • Soil Conditions
    1. Demolition
    2. Grading
    3. Environmental
    4. Archaeology
    5. Ground Water/Rock

 

  • Utilities/School Districts
  • Green Space
  • Wetlands
  • Tax Credit Funding

V.             Judging Highest and Best Use

The most probable use concept is rooted in the marketplace and reflects actual behavior patterns of active market participants

 

·               Available Use

·               Legal Uses

·               Probability of Rezoning

·               Physically Permitted Uses

·               Sufficiency of Demand

·               Duration and Intensity of Parcel Uses

·               Most Probable Site Value

·               Excess and Surplus Land

·               Most Probable Use

·               Summary

 

VI.           Case Study

 

An actual case discussion of evaluating a site’s usefulness and optimum use

·               What do you think the development potential is of a ~950 acre parcel in a desirable submarket

 

VII.         Resources

 

This course will provide you with:

  • A Land Description Template
  • Extensive List of Resources

Checklist for Land Develop