I have had two failed land listing appointments this past week. In each case, the seller had an inflated sense of what their little parcel of heaven is worth. Yes, Mr./MS seller there is land that goes for 30k an acre, but it looks nothing like this. Here are some items that pull down the value of land.
1) The difficulty required to access the lot--For maximum value, gaining access should entail turning into the paved drive. The last piece of land I looked at scared the hell out of my jeep. That's going to cut back on your buyer pool!
2) What's Next Door--- I love dogs, but those free range pit bulls one lot over are going to scare the heck out of most people.
3) Utilities are NOT Overrated-- Some lots have water, septic, and power ready to go. Others do not. Guess which will command top dollar?
4) Bottom land is great for moon shine production-- Not so much for a homestead. Sure water only covers 90% of your lot three months a year. Where the heck are buyers going to build their house. Do you know how expensive dirtwork can be?
5) You can't get there from here-- How isolated is the property? Generally speaking, the closer to town the higher the price.
6) Where do babies come from--- If you have any sort of structure on the property odds are the local teenagers are familiar with it. Someone, either you or the buyer will need to raise the structure and remove the materials. This isn't cheap. Either suck it up or be prepared to drop the price. Empty beer bottles and other "artifacts" from Friday night do not add value.
7) Love Thy Neighbors-- Beware of neighbors who offer to buy your land for "top dollar". Saying they will give you 100k for your lot is very different than them writing a check for 100k. That being said, neighbors often do end up purchases such lots so treat them with respect.
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