Home Selling in Crownsville>Question Details

Graciela Bla…, Home Buyer in Annapolis, MD

what would be the price per acre for 10 acres at 1820 hall brown road in crownsville, maryland?

Asked by Graciela Blackstone, Annapolis, MD Sun Nov 11, 2007

I'm the recent heiress owner of these 10 acres of 1820 hall brown road in crownsville. I'm intrested in an investor to help me build an upscale assisted living community. Even though The property is in the county, I'm close to the Eisenhouwer golf course, and to the shopping areas downtown Annapolis City.

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Real estate sales professionals should be careful not to appraise real estate without a license. Your responses should state that it is your opinion of what you would market the property for in the open market.
Just as an appraiser might not be the best person to market real estate, most real estate agents know very little about the basics of real estate valuation.

Land appraisal assignments can be especially difficult. It is not reasonable to assume that because one 5 acre site sells for $500K that a 10 acre site may be worth 1 million. I would suggest to the person who inherited this land to contact 2 or 3 certified appraisers (and not me). A complex property like this usually can't appraised using Zillow or some online chat room. Spend the money it may save you thousands!
Web Reference: http://dealeappraiser.com
1 vote Thank Flag Link Mon Nov 12, 2007
The property, actually listed at 6.32 acres and in the Annapolis 21401 zip code, is assessed at $384,440 (land only). That makes the assessed value $60,829 per acre.

There is currently a 20 acre lot in Crownsville listed for $900,000. The most recent sale in Crownsville was a 6 acre parcel with approved perc that sold for $494,000.

The neighbor, at 1810, paid $437,500 on 12/28/2001 for 2.83 acres.

I think that is the relevant sale to address. Basically I think that the land is worth around $100,000 per acre.

Feel free to contact me for the pertinent tax records.

Is the property that is currently in dispute with county regarding the reduction of the existing rules that reqire 10 acres for assisted living?
Web Reference: http://www.callmike.org
0 votes Thank Flag Link Sun Nov 11, 2007
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