How can you determine an asking price for residential building lots in a subdivision?

Also, how would you determine what the entire acreage with approvals should be sold for?
In Selling Property - Asked by Rich G. - Mar 9, 2009
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Answer(s)

Julie C.
Listing Administrator
The Woodlands, TX

Ask a real estate agent to do a comparative market analysis (CMA).

Mar 9, 2009
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Juan G.
Broker/Agent
Ontario, CA

To give you a general idea; get the market value of what a home there would be worth then subtract the cost of building and an allowable profit (maybe 10% or whatever is normal in your area).
There are obvioulsy alot of factors you did not mention, are you as a builder bringing in all utilities? how much open space are you providing? will there be an HOA?
I specialize in retail but may be able to give you a general idea to help you out. Send me an email
leaseretail@gmail.com

Mar 9, 2009
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Gregory G.
Broker/Agent
San Francisco, CA

Sheila, where is it located?

Mar 9, 2009
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Mark S.
Broker/Agent
Brandon, FL

Estimating land value in today's climate is not easy, particularly for land with aprovals. I suggest you locate a qualified appraiser with the MAI designation and a good place to start is www.AppraisalInstitute.org. You can perform a search by city, zip code, etc.

Mar 10, 2009
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Steve R.
Broker/Agent
Danville, CA

It depends where the land is located, what houses in the area sell for, what the city/municipal fees will be and what the cost to develop the site into finished lots will cost.
Where is the property located?? You don't have to be specific, just a metro area??

Mar 19, 2009
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Billy G.
Broker/Agent
Beaufort, SC

20% of the current retail sale price of the homes... i.e on the same st, same features, in the community.. all the other answers are ridiculous..

May 7, 2009
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Billy G.
Broker/Agent
Beaufort, SC

Density..... and the cost of dev

May 7, 2009
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