Article: How to analyze land values in the luxury market.

If the first rule in appraising is to identify the subject property, then the second is to identify the variables impacting the subject property. The three most important factors impacting a site are environmental, physical, and governmental - primarily zoning. For the purpose of this article we will deal with zoning and assume we have a property with no environmental or physical problems.

Maximum Density May Not Mean Maximum Value

Zoning, as it translates to highest and best use, is the area where we often see some of the major errors made by appraisers. When you have a diminishing asset (i.e., the availability of direct oceanfront properties), having a ...

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