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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Count only the useable portion I believe

Oct 06, 2015 01:44 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Anne Lok It would depend how large the lot is and where the ravine is located. I sold a parcel that has a storm water management system on it with a dry pond taking up the whole property. The buyer found a way to build over the pond.

In your case the value would depend on the useable portion of the lot.

Oct 06, 2015 12:02 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think of it the same as flood zone on smaller properties. Unusable.

Oct 05, 2015 10:28 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You should comapre with similar properties.

Oct 05, 2015 10:27 PM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Quite literally as a 'falling asset.'

On a 70 acre property, the issue is not as critical, however on a 1/4 lot, the outcome can be catastrophic.

To establish a point of argument, refer to the land unit value from your property appraisers website for several ravine properties and of the properties across the street.  That ratio, conditioned by your knowledge of the local market and existing data and trends should allow you to present a defensible lowest value. Of course that is not the value for which that real estate will sell. Be smart about setting expectations.

Oct 05, 2015 10:23 PM
Hamilton Landon Real Estate - Apple Valley, CA
...Marketing your home like no one else will.

Anne, you have to find similar properties. Compare apples to apples. 

Oct 05, 2015 09:49 PM
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

I wouldnt know.

Apr 13, 2019 11:36 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Hope you found a good answer for this one.

Oct 11, 2018 07:42 PM