Archive | Comparable Sales

THE MARKET DATA APPROACH, HOW COMPARABLE DO COMPARABLE SALES HAVE TO BE?

We recently filed a brief in an unusual case dealing with the valuation of a 10 acre parcel of land on the Long Island Sound in Eastern Long Island.  The valuation is premised on a filed subdivision map.  Certainly, this is a rare parcel of land to value.  Both appraisers used the market data approach to value the land.  Utilizing comparable sales is the most common approach to value vacant land.  If the property is income producing, the law in New York requires the income approach, or the capitalization of… read more

Posted in Comparable Sales, Market Data Approach, Valuation
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