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Land Valuation: Adjustment Procedures and Assignments
is a basic guidebook to help appraisers successfully complete new or difficult land valuation assignments. It provides benchmarks for property analysis and illustrates how various land valuation assignments can be performed, using both traditional techniques and appropriate alternative methods. It also offers readers a wide array of valuation-related data sources, formats, procedures, and references.
Land Valuation addresses the appraisal of sites in mature neighborhoods and prospective subdivisions as well as residential waterfront property, industrial and commercial land, farmland and timberland, historic and scenic land, resort lots, wetlands, contaminated sites, and rights of way. It demonstrates how to locate properties in the field, conduct site analysis, and determine highest and best use. A variety of adjustment techniques are explained, including adjusting for size differences, changing market conditions, accessibility, public utilities, and location. Also covered are ways to use property listings, improved property sales, and paired sales analysis to estimate land value and the selection of appropriate units of comparison.
This text can be used as a desk reference by all appraisers involved in the valuation of land, regardless of their level of experience. Illustrations and computations reinforce the discussion of various valuation methods and assignments. Numerous graphics, photographs, and charts are incorporated into the book to facilitate the reader’s understanding of the material presented.
About the Author
James H. Boykin, Ph.D., MAI, SREA, Professor Emeritus, works in Richmond, VA., as a real estate analyst and consultant. He specializes in pre-development analysis, conservation easement, partial takings, and waterfront land valuation and has qualified as a real estate expert in 14 different courts of law. Dr. Boykin has served in numerous capacities for the Appraisal Institute, including as vice president and as a member of the governing council.