The way land is valued for appraisals depends on its size and use. Generally, land is priced by the "square foot", except for rural properties. If the land is on a beach, golf course, or is intended for commercial use, it may be valued based on the "front foot comparison", which may give it the highest possible value.
These are questions that the above text answers:
1. How is land typically priced for appraisals?
2. What factors determine the valuation of land?
3. What is the pricing unit used for land in general?
4. Are rural properties priced differently than other types of land?
5. In what circumstances might land be valued based on "front foot comparison"?
6. What types of properties may be valued based on "front foot comparison"?
7. How does valuing land based on "front foot comparison" affect its value?
8. Are there any exceptions to valuing land by the square foot?
9. How does the intended use of land impact its valuation?