Do you have a piece of land that you want to sell? Maybe you purchased it thinking you’d build on it someday. Maybe you inherited it. Maybe it looked like a great investment opportunity. Whatever the reason, you’ve decided to sell your land in Arizona. But you may not know how to properly value your land in Arizona, especially if you inherited it. But by taking a little time to learn about how values are determined, you can feel confident in your asking price. In this post, we share How to Determine the Value of Your Land in Arizona.
Recent Sales
Comparing recent sales of similar properties located nearest to your land can help you get a feel for the general price range of land in the area. Naturally, there are varying factors within that have an effect on the value of your land in Arizona. Most significantly, the actual location of the property within the area you have selected to purchase land.
Potential for the Land
Raw land can hold the potential for many uses. You can potentially boost your asking price if you are able to show interested buyers all they could do with the land. Some suggestions include building a custom home, commercial development, creating a recreational getaway, or even establishing a seasonal event venue. The value of your land can increase by showing how a buyer can use the property to its full potential.
Appraised vs. Assessed Value
Appraisal values of real estate can vary depending upon determining factors in the local market. However, the assessed value of your land in Arizona is highly stable and is the amount upon which you pay property taxes. While these values can vary greatly, a lower assessed value does not necessarily mean a lower appraisal value.
Demand
Here’s where some research on your part can really pay off. Gaining knowledge about the Arizona market as well as any upcoming growth plans around your vacant land, will allow you to get a better sense of the demand in the area. In some areas, vacant land located closer to a big city can be worth more. In other areas, people are looking for more remote parcels to get away from it all. Knowing the buying activity in the area and what potential your vacant land holds can help you better determine the value of your land in Phoenix.
Ready to Sell?
Whatever your reason for selling your land, Investment Land Alliance will help you sell at the right price! Working with Investment Land Alliance makes it easy to determine the actual value of the land. Investment Land Alliance has investors looking for land like yours! Call Investment Land Alliance at 480-779-8444 or send us a message today!