| real.est. |
income, cost and market comparison (Land Valuation Methods Equitable land valuation frequently calls for the assessor to make optimum use of a very limited database. Of the three approaches to value (income, cost and market comparison) the cost approach is virtually without use in land appraisal. Land rents can be very helpful when using an income approach, but are often dated and generally limited to commercial and agricultural lands. In case of residential land, only the market comparison approach is directly applicable, and its use is often limited by a shortage of vacant land sales. Hence, land valuation often requires the appraiser to examine available land sales information very carefully. Perhaps more than any other aspect of property valuation, accurate land appraisal relies heavily upon the judgment of the appraiser. Alexander Demidov); income, cost and sale comparison (In real estate appraisal, the cost approach is one of three basic valuation methods. The others are market, or sale comparison, and income. WK Alexander Demidov) |
