Analyze the Land
Feasibility and Use Analysis
I can do the following for my own leads and/or your land leads:
- Determine Likely Number of Building Lots
- Determine Most Marketable Options for the Land ( ie: houses, condos, etc.)
- Determine Most Advantageous Pricing for End Product ( retail pricing)
- Work the Numbers Backwards from End Product Pricing to Arrive at Per/Lot Value
- Recommend Land- Only Price for Raw Land Based on End Use
Once I have permission to be on the property, I go for a walk. I pay particular interest to anything I think could negatively or positively affect the future development. For example, I look at the abutters to see if there is something ugly close by, or if it is a beautiful area. I look at easements, to see how those might affect the property. I look for wetlands issues. Overall, I am forming my impression and opinion about how marketable the final development will be.
I use a variety of tools for the land analysis. I research the zoning, subdivision R&R, town by laws. I use on-line mapping for topo analysis, and wetlands mapping. I combine all this knowledge to lay out what I think the land can produce, in the form of housing.
I also take into consideration what is most needed in the marketplace. For example, until recently we were saturated with 55+ communities. Building another one would not have been a winning strategy - even if it was an option in terms of zoning. Local market knowledge contributes to final decisions about highest and best use.
Margo Otey - Licensed Real Estate Agent #60949-s - 22 South St, Suite 203, Hopkinton, MA 01748