PROPERTY EVALUATION (RESTRICTED REPORT)
RECONCILIATION
LAND VALUECONCLUSION
Cost
Market*
Income
Effective Date Approach
Approach
Approach
Final Land Value:
Not Applicable
$32,965 Not Applicable
Rounded Land Value
5/3/2019
$30,000
*Also called Direct Comparison Approach
The Cost Approach has not been used in the final value estimate. The Cost Approach is rarely used by investors or buyers as a purchase criterion in the subject market except when analyzing whether the listing/selling price is below that of the current cost. The Direct Comparison Approach is usually a strong indicator of the market value in stable or growing economies. Our sales analysis resulted in a value which provided support to our final conclusion of market value. Primary emphasis was placed on this approach. The Income Approach was omitted within this appraisal given that residential land is rarely leased within the subject’s market. We have concluded on an "as is" market value of $30,000 (rounded).
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