Hi there, relatively new to the community and first time poster... love all the info on residential real estate. I plan to become an investor in the near future, but my first question is a bit different.
Are there any good guides for appropriately valuing and listing vacant land? (Particularly in Mid-Hudson Valley of NY if that makes a difference for licensing, etc.)
I don’t want to cross any boundaries with my first post, but I’m trying to gain a foundation of knowledge to help my family unload some inherited land. I plan on posting this in the future in the marketplace if needed, but I feel like the waters are so murky here that I was hoping someone could help me get a foothold first. Not looking for a formal mentor relationship or anything, just some general resources.
Any help with getting started on this journey would be appreciated.
Land is a whole different beast! I would speak with a couple of different local real estate agents, let them know you're interviewing a few of them, and have them give you a range of the value. If you're not experienced, there are a lot of important details to consider. Generally, the biggest challenge is a lack of quality comparable properties. Zoning, what utilities are in place or are available, easements, views, and what a buyer would intend to use the property for are all important factors.