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John Mak, Other/Just Looking in West Main HIll, Kala...

How do I find out how much my vacant property is worth your question...?

Asked by John Mak, West Main HIll, Kalamazoo, MI Thu Jun 5, 2008

I have a 2 acre lot in the country. I want to sell it but have no idea how to value it. There isn't much vacant prop up for sale in my area.

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Hi John, Your best bet is to contact a local Real Estate Agent who can preform a Comperative Market Analysis. This report is usually free of charge, and provdies you with information from your local multiple listing service on properties which have sold that are similiar to yours. Miclelle is correct in saying that properties currently on the market are not good comparables. A property can be listed for any amount, but what it sells for tells the real story.

Janet Tucker
Door to Door Realty Email
1 vote Thank Flag Link Thu Jun 5, 2008
Hi John,
Market value is generally determined by similiar properties that have sold recently rather than those currently for sale. Your area realtor who specializes in vacant lots can give you a market value of that land.
Michelle Hall
Keller Williams Preferred Realty
1 vote Thank Flag Link Thu Jun 5, 2008

I would agree, contact a local professional (preferrably 3) and have them provide a Comparable Market Analysis. You will get a range of value from each. The property will vary in value depending upon location, amount of wetlands, utilities, water/sewer, road, etc. There are many variables.

The first place to start, would be your property assessment notice. Double that figure and you will have the amount Conklin area government has valued the land.
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0 votes Thank Flag Link Fri Jun 6, 2008
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