The term Lot is usually defined by various real estate
dictionaries as a distinct small portion of a larger tract of land or in some
cases of a city block. It is important to focus on the term “distinct”, because
that is usually what differentiates one Lot from another very similar Lot in
terms of their monetary value. It is
likely true that that there will be a wide range of Lot values occurring within
the same subdivision. Subtle differences, such as road frontage and size,
typically account for the differences in Lot values when they are in very
similar locations. In cases where Lots have special attributes such as water
frontage and breathtaking views, values can vary widely to the extent that some
Lots within the same subdivision will have values double and triple that of
their nearby siblings.
Our firm is experienced in appraising Lots anywhere in the
country. We are attuned to the subtle difference in Lots, which can make a
material difference in their values, even in the same
subdivision. Give us a call to discuss your needs.