Where can I find comps on vacant land?

Asked by Kimi, Orlando, FL Tue May 13, 2008

All of the sites I've found only have comps on homes. We are doing FSBO and need to find a good offering price

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8
Viviana Katz, Agent, Altamonte Springs, FL
Thu May 15, 2008
I keep asking this same question, but is the land vacant or raw? Are you committed to a FSBO because you don't trust the industry? Are you marketing to an end-user or a developer or builder?

I specialize in development, comprehensive planning & concurrency, and land use because it's an intricate process & my personal experience led me to believe that many Realtors are not honest with themselves or clients about the costs, liabilities & outcomes involved.

Best of luck in your research! Vivian Katz, CIPS
2 votes
Thomas Santo…, Agent, Yorktown Heights, NY
Fri Dec 12, 2008
Hi Kimi,
Read through the answers you have gotten so far and don't know if you feel you got an answer, but here is my answer to your question.
There are no real sites to comp your land with.
I specialize in vacant land and when there are no comps to be found what I do is look for a home that is fairly new if not new and if I have approvals to build on the lot in question I take the selling price of the new home, take off 10% and divide the balance by 3. Example if the house sells for $300,000.00 minus 10% is $270,000.00 then divide that by 3 for an asking price of $90,000.00.
Hope this helps and is not to late.

Thomas Santore
Associate Broker
Coldwell Banker
845-590-5488
Visit my web sites at http://realestatesallhere.com and http://icansellyourland1.com
http://activerain.com/thomassantoreinc
1 vote
Bill Eckler, Agent, Venice, FL
Mon May 19, 2008
Hi Kimi,
CAUTION......most FSBO's do not have a realistic value associated with their property and can be overpriced for the current market. Since they are not professionals, they do not keep up with the comps of recently sold property.
A skilled agent could save you more than money. Call one......it's not going to cost you a penny to find out what they can do for you.

Good luck,
The "Eckler Team"
Century 21 Almar and Associates
ecklerteam@comcast.net
941-408-5363
1 vote
BAILEY, Both Buyer And Seller, Barrington, IL
Mon Sep 29, 2014
Loopnet.com for sold comps. You can see generic land comps even just with the free service.
0 votes
Tom Songer, Agent, Orlando, FL
Fri May 17, 2013
We like to extend our services to you. We have access to title plants that have the information you seek. Please feel free to contact me at Thomas.songer@gmail.com or visit our LinkedIn profile http://www.linkedin.com/in/tomsonger/ to learn more about us. 25 yrs exp Top 100 WSJ*
0 votes
Vincent Paige…, Agent, Orlando, FL
Mon May 13, 2013
County Tax Assessor website, check comps, or get a PRO agent to do it for you! =o)

Vincent Warren Paige, Jr.
REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail:vince@thepremiumproperties.com
0 votes
Barbara Vance, , orlando- windermere vicinity
Tue May 13, 2008
Hi Kimi,

Vacant land is a very specialized area. Is this a finished lot? Or is it a large parcel. If its a large parcel, not part of a PUD, BEFORE making an offer, hire a MAI Appraiser from one of the larger firms in Orlando. Clayton Roper is a place to start.

If its a PUD, call a local lender who specializes in Contruction Perm Mortgages or Lot Loans. Try Wachovia or MI bank. Someone there should be able to point you in the right direction for evaluation.

After you have your price arranged, be sure to do an environmental and a soils test (again if its a non PUD)
There are firms specializing in this : Try McIntosh and Assoc. There is much more to purchasing land than the price.
0 votes
Greg Traub, Agent, Orlando, FL
Tue May 13, 2008
I'm sorry Kimi, but the only thing I can think of is either spending hours sifting through the Counties Property appraisers website for sales, and trying to figure out what is vacant, what it's zoned, whether it's a comparable location etc... to try and find some comps.
Or you can call up an agent that specializes in vacant land in your area and use them to list. I do not specialize in vacant land but can assist in finding an agent that does.
Web Reference:  http://www.gregtraub.com
0 votes
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