7 Common Land Valuation Mistakes
Most land sits unsold not because nobody wants it, but because it's priced on bad information. These are the seven mistakes we see most often.
1. Trusting the tax assessment
Assessed values are for taxation, not market pricing — they can run far above or below what buyers pay, especially in rural counties that reassess infrequently.
2. Pricing per acre without adjusting for size
Per-acre prices fall as acreage rises. Forty acres is not worth eight times a five-acre comp; small parcels command premium per-acre pricing, large ones a discount.
3. Ignoring access
A parcel without legal, recorded access can be worth 30–70% less than an identical lot on a road. "I've always driven through the neighbor's field" is not an easement.
4. Assuming utilities are close enough
Power a half-mile away can cost tens of thousands to bring in. Buyers price that in even when sellers don't.
5. Using listing prices as comps
Asking prices are wishes. Only sold prices are evidence — and land often sells 10–25% under ask.
6. Overvaluing zoning potential
"Could be commercial someday" adds little value until entitlements exist. Buyers pay for what's permitted now.
7. Forgetting the cost of time
Every month on market costs taxes, and stale listings invite lowballs. A price that sells in 60 days often nets more than a higher one that takes a year.
Want a reality check? Our written offers include the comparable sales behind them — a free second data point for whatever you decide.
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