The Several Techniques Used to Value the Land of a Property
Valuating land has a direct relationship to the highest and best use analysis. The comparison between highest and best use and land or land value will show whether an existing use is the highest and best use of the land. The valuation of land plays a huge part in the total valuation of property value or real estate. Appraisers will often create an estimate of land value separate from other features of real estate such as building improvements. Don Mcclain lives in Austin, Texas has been involved in commercial real estate finance for over 25 years, and is a solution provider. In his free time, Don Mcclain enjoys boating, training, journeying, and spending time with his three children. The land value and building value will change to different rates depending on the improvements and their corresponding depreciation factors. For many estimations of real estate valuation, a separate figure for land is the best way to evaluate the perceived value. Although total property estimation m...