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Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
One acre equals 1 ⁄ 640 (0.0015625) square mile, 4,840 square yards, 43,560 square feet, [2] or about 4,047 square metres (0.4047 hectares) (see below).While all modern variants of the acre contain 4,840 square yards, there are alternative definitions of a yard, so the exact size of an acre depends upon the particular yard on which it is based.
If the value of the commercial lot as vacant in "House B" exceeds the value of house as a residence as improved plus demolition costs, the overall highest and best use of this property would be the as vacant value of the commercial lot. For example, assume that "House B" has a value as a house of $200,000, and a site value as a commercial lot ...
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At 10036 Carmen Road in Cupertino, California, sits a one-bedroom, one-bathroom home with 384 square feet of living space. The tiny home went viral in April due to its $1.7 million listing price.
One of the reasons for creating sections of 640 acres (260 ha) was the ease of dividing into halves and quarters while still maintaining a whole number of acres. A section can be halved seven times in this way, down to a 5-acre (2 ha) parcel, or half of a quarter-quarter-quarter section—an easily surveyed 50-square-chain (2 ha) area. This ...