You may be familiar with the home appraisal process. You know the appraiser will review the property and determine its value based on age, upgrades, condition and comparable properties sold in your market. But what about land? There are no numbers of bedrooms or types of countertops to compare to other properties. What exactly does a real estate appraiser in Napa County, CA consider during land appraisals?
Since each piece of land is unique, it takes specialized skills to determine the value of each property. The appraiser will look at several characteristics of the land to provide an accurate reporting of its value:
- Property access: How easily can the property be accessed for use? Land that is difficult to access is less valuable. The real estate appraiser in Napa County, CA will consider whether the property has legal access, whether the access is public or private, paved or graded, and landlocked or roadside.
- Natural amenities: Some natural features add aesthetic appeal to properties. An inviting waterfront or other beautiful view adds value. Natural features, such as rivers or ponds, can also prove valuable. However, depending on the desired use for the land, these features may also reduce the property’s land-use potential.
- Layout: How is the property configured? An irregular shape or narrow parcel may limit the land’s possible uses and reduce its value. The appraiser considers how the property’s configuration will affect development and future use.
- Location: As with any appraisal, the location of the land greatly affects its value. The appraiser will consider what is nearby, where in the state and country it is located and the value of other land in the vicinity.
- Acreage: How big is the property? The amount of land involved obviously affects its value. Keep in mind, high acreage often values at less per acre than smaller parcels of land.
- Land improvements: The real estate appraiser in Napa County, CA will review any improvements made to the property. For example, does the land include any structures? If it’s hunting land, has the owner built a lodge that could add to the value? Are fencing, driveways or other improvements present? All of these additions, big and small, affect the property value.
- Flood issues: If the property is located in a flood plain, this greatly affects the value. The appraiser will determine if the land is prone to flooding and investigate further if it is. The appraiser will want to know how often the property floods, where the land floods and what impact the flooding has on the property use.
Do you need to determine the value of your land? To discover what your property is worth, contact your local real estate appraiser in Napa County, CA. The land experts at County Appraisals Inc. are ready to assist you with all your appraisal needs. We offer expertise in agricultural-related properties as well as multi-acre estates. Contact us today to assist with your lending appraisal, estate tax valuation, estate planning or purchase price negotiation. Our certified appraisers will make a thorough assessment of your land to determine a fair market value.
Categorised in: Real Estate Appraisals
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