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Note that since the variables used are inherent to the property and are not market-derived, therefore unless appropriate adjustments are made, the resulting value will be value-in-use or investment value, not market value. 5. Cost method. Used for land and buildings of special character for which profit figures cannot be obtained or land and ...
In order to determine the maximum potential of a property Land Use developers often have to embark on a three-step analysis involving property analysis, entitlement and constraint analysis, and market analysis. In order to be considered as the highest and best use of a property however, any potential use must pass a series of tests.
To this end, it is the systematic assessment of land and water potential, alternatives for land use, and economic and social conditions in order to select and adopt the best land use options. [1] Often one element of a comprehensive plan , a land use plan provides a vision for the future possibilities of development in neighborhoods, districts ...
Appraisal methodology more or less treats hedonic regression as a more statistically robust form of the sales comparison approach, [2] making it a popular means for assessment in any market or economic sector in which valuation between two categorically similar (or same) goods (such as two different kitchenware sets) can differ greatly based on ...
Land use and land management practices have a major impact on natural resources including water, soil, nutrients, plants and animals. [6] [7] Land use change is "the change from one land-use category to another".
The value of the real property, taking the form of man-made structures and machinery, generally decreases relative to the value of the land alone. Where industrial, agricultural, and commercial property values depreciate as a result of contamination, extraction, and expected wear and tear, respectively, residential property value depreciation ...
In modern times, however, this is rarely the case, as many people prefer to trade off the accessibility of being close to the CBD and move to the edges of a settlement, where it is possible to buy more land for the same amount of money (as the bid rent theory states). Likewise, lower-income housing trades off greater living space for increased ...
Land reform – Changing of laws, regulations, or customs regarding land ownership; Land value tax – Levy on the unimproved value of land; Means of production – Inputs used in the production of goods and services with economic value; Magic: The Gathering#Luck vs. skill – Collectible card game; Property rights (economics) – Economics concept