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and seller . Where liberal terms are offered by the <br /> seller, such as low down payment , low carrying charges , <br /> and payment over an extended period of time, prices tend <br /> to be inflated . When the seller requires all cash , <br /> prices tend to be discounted . <br /> 5. Date of Sale. <br /> The date of comparable sales is also important when <br /> analyzing current land values. This is not only because <br /> of the inflationary trend affecting the value of the <br /> dollar, but also because of cycles in land values within <br /> the area. <br /> 6. Character of Surrounding Development. <br /> The presence of attractive , new and modern buildings in <br /> commercial and industrial neighborhoods will tend to <br /> enhance surrounding land values. The presence of old and <br /> obsolete structures or the absence of any development <br /> will tend to lessen land value. <br /> 7. Topography. <br /> A number of physical features also affect land value . <br /> These include provision for surface drainage , soil <br /> conditions , shape and ground cover . When all of these <br /> conditions are favorable , a developer can reasonably be <br /> expected to pay a premium price for the land. <br /> Three land sales and one listing were examined in developing a land <br /> value estimate . The sales occurred between April 1983 and July <br /> 1983. Sales prices ranged from $230 , 000 to $7109000. The size of <br /> sale tracts range from 2 . 29 acres to 6 . 02 acres . The sales data <br /> developed a sales price per acre range from $100 , 400 to $117 , 900 . <br /> In addition a property listed for sale consisting of 9.45 acres at a <br /> listed price of $800,000 was examined. <br /> Sale No . 1 is located in an industrial neighborhood midway between <br /> Glenwood Springs and Carbondale. This sale had inferior topography , <br /> utilities and location . However it was given an overall superior <br /> rating due to its smaller size addressing a larger market place. <br /> Sale No . 2 is located in the West Glenwood Neighborhood with the <br /> size being approximately the same, however the location is superior <br /> and the topography is generally similar . <br /> Sale No. 3 consists of a tract of land at the corner of Highway 133 <br /> and 106 Road and has subsequently been developed with a small <br /> shopping center. Due to its location this sale is felt to be <br /> superior. <br /> The forth comparable tract examined is a listing of 9 .45 acres on <br /> the southeast corner of 133 and 166 Road . This location is very <br /> -10- <br />