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LAND VALUE <br /> In analyzing comparable land transactions or potential <br /> transactions in the general area , a number of factors of <br /> comparability have been taken into consideration . These <br /> include the following: <br /> 1 . Location . <br /> Location has the greatest influence on value of any <br /> single factor . It is equally true of agricultural <br /> tracts and potential development lands. As related <br /> to this appraisal, the highest land values are found <br /> with those tracts having good year-round access and <br /> reasonably close proximity to existing communities as <br /> well as railroad or potential railroad service. <br /> 2. Size of Tract . <br /> Another important factor is the size of the tract <br /> being appraised as related to comparable sales. As a <br /> general rule , the smaller the parcel of land , the <br /> higher the unit value ( price per acre ) and , <br /> conversely , the larger the tract , the lower the unit <br /> value . This is due to the fact that the smaller <br /> tracts are in greater demand and within the means of <br /> many more prospective purchasers , while the larger <br /> tracts have a wholesale aspect and require greater <br /> financing capacity , equity investment , carrying <br /> expense and time to develop. <br /> 3. Zoning and Potential Use. <br /> While the existing zoning classifications do not <br /> absolutely dictate future use, they may have a strong <br /> bearing on both sales prices and values . A <br /> prospective purchaser who must rezone to a higher or <br /> different use category must consider not only the <br /> probability of rezoning , but also the time and <br /> expense required . It is a statement of fact that <br /> rezoning of potential development land for <br /> subdivision purposes is becoming increasingly <br /> difficult throughout the State of Colorado. <br /> 4. Date of Sale . <br /> The date of comparable sales is also important when <br /> analyzing current land values . This is not only <br /> because of the inflationary trend affecting the value <br /> of the dollar , but also because of cycles in land <br /> values within the area. <br /> -10- <br />