What is the value of 7 acres of agricultural land with a build-able site in 95695 zip code

power and water on site, septic has been put in for 3 bdrm home but no home has been built
In Leasing Property - Asked by denae w. - Sep 21, 2016
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Answer(s)

Previn S.
Property/Asset Manager
Farmington Hills, MI

The best way to get a value on any type of real estate would be by getting a sold comparable through the MLS. If you cannot find a sold comparable the next best option would be a pending or an active comparable. Also, if you cannot find anything comparable at 7 acres, you can create a ratio of price/acre and use that.
For example: 2 acres of agricultural land sold for $100,000, therefore each acre in that area looks to go for around $50,000. A good estimate would be that your land would be valued at $350,000. There is much more research you can do though, through the MLS.

Sep 21, 2016
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Jerry L.
Appraiser
Banning, CA

It is not unusual to find that the price-per-acre will decline as the number of acres increases. Use caution when assuming that a 2 acre parcel, which establishes a value of $50,000 per acre, will also apply to a 7 acre parcel. Furthermore, one sale is quite inadequate data from which to draw a meaningful conclusion. You need several sales in order to see a trend or grouping of values. (I am a state certified general appraiser with 40 years of appraisal experience, most of which is valuing vacant land).

Sep 24, 2016
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