Dcs9959, Home Owner in Washington Township,...

I am trying to find out what the average value is for an acre of land in washington township ohio.

Asked by Dcs9959, Washington Township, OH Wed Oct 12, 2011

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Edith Karoli…, Agent, Winnetka, IL
Mon Oct 17, 2011
Hi, be very careful with generalized answers, there is not such a think as an average value, not for a home, nor for a piece of land, it would make it very easy if that would be the case...

For land in particular you must do careful research with the help of an experienced Realtor.....

Zoning is very important, and any plans for changes in that area (road construction, or other changes from
residential to commercial or vice versa) are important factors..... If you are selling the land you should be
as informed about your land as the potential buyer, as that buyer will try to get all information available before
committing to even make an offer on the land.

So careful try to find out as much as possible, the local building commissioner can be of assistance and
then the experienced Real Estate agent in the area.

Good Luck to you
Edith YourRealtor4Life! And Chicago/NorthernIllinois & North Shore Expert
Working always in the very BEST interest of her clients
0 votes
Bob Combs, Agent, Beavercreek, OH
Wed Oct 12, 2011
There isn't an easy answer about Washington Township. Location is everything and the township runs the gambit from rural to suburban and borders on some high end real estate. Even the rural areas hold a better value these days with crop prices being what they are. You really have to look at exactly where the land is located. This probably wasn't much help to you.
0 votes
Jim Paulson, Agent, Boise, ID
Wed Oct 12, 2011
Beware of well intended but wrong answers to this question!

I say that because you need to start with "what is the highest and best use" of the land in question. Is it residential, commercial, industrial, etc. Is it in an area that is subject to transition (soon to be commercial)?

Another thing is assuming it is residential, the main value in the land is the ability to build a home on it. If the zoning only allows one dwelling per acre it is at it's highest and best use. If it is 1.75 acres, you can't split the extra .75 acres so it adds very little additional value. If it is 2 acres but you can't split it, it is not worth 2x the price of a one acre parcel!

In premium properties, they sell by the "frontage foot" (i.e. X feet of frontage on the highway, or on the lake).

Real estate is not a commodity so you can't sell it by the sq. ft. or per acre without a lot of additional compensating factors.

Best of luck from Boise! I hope you found this answer helpful!
Jim
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