Education Calendar

Next Date: 07/13/2016 at 09:00:00

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

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