Any New Jersey Developers out there?

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Hi there, thank you for taking the time to read my post!

When evaluating vacant lots in New Jersey how do you know if the lot is a good deal when the prices seem to fluctuate so much for similar properties? Do you mainly use the cost approach for building or comparable sales?

To limit your downside have you had success negotiating options vs buying for cash until you find someone who wants you to build them a home on the lot?

I have three vacant lots under contract here in northern New Jersey that I believe are "very good deals" but not 100% sure.

The lots were off market and found using direct mail. These are the best three lots based on mailing to over 3,000 owners. All three lots have houses on the many adjacent lots and they have no liens, back taxes or wetlands.