When coming up with county based pricing, does prycd factor farm and agriculture land use in that number, or just vacant land? I'm working on a county that has desert lots, plus a bunch of farm/agriculture land. I'm curious if the higher value farm land would drive up the comps. Are farm comps included in the county based pricing?
I see on my list that a 5 acre "farm" and a 5 acre vacant parcel come out priced exactly the same. I'm guessing farm, agriculture, and vacant land are all lumped together. In which case, I'm probably high on the vacant land, and low on the farm land. Any suggestions?
Hi Marcus,
Thank you for your question! You are correct in assuming that farmland comps and vacant comps are all considered the same. Unfortunately, we are unable to distinguish between unique land types from comps right now. The listing sources we pull from do not currently provide this information.
However, once we are able to obtain that data, we absolutely plan on adjusting our modeling to account for this exact thing!