NEED HELP: Pricing land in NJ - Posted by Joe

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Posted by dannj on June 13, 2007 at 11:41:40:

Ocean County has a ton of records online.

If you don’t already know, prices in Lakewood vary quite a bit.

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NEED HELP: Pricing land in NJ - Posted by Joe

Posted by Joe on May 14, 2007 at 22:04:39:

Hi,

As part of a deal, i’ve been offered a piece of land allegedly worth about 40K as a deal sweetner, for much less. I dont know anything about buying land or prices, plus this land is “forest” land with no homes in the vicinity. How can i find the value of this land, anyone? and if it is worth that much and i get it for much less, i’ll flip, how quickly would i be able to sell it (how desirable)?

Location: Lakewood, NJ (Ocean county) in “Pine Forrest Manor”, its 40x100.

Can anyone point in the right direction? should i call brokers and say its mine and id like a valuation?

Thanks, Joe.

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Re: NEED HELP: Pricing land in NJ - Posted by Tim

Posted by Tim on May 15, 2007 at 09:18:39:

Is city sewer available for this property? In my area the lot would be too small to have a septic system, making the parcel virtually worthless without public sewer.

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Re: NEED HELP: Pricing land in NJ - Posted by Joe

Posted by Joe on May 15, 2007 at 09:35:44:

I live in nyc and don’t know the area less the town. But I’m told there aren’t even roads leading to the property, its “landrock” (?) property - so if there are no roads I assume no septic system, is that a correct deduction?

Of no septic sys, how worthless would you say, approx? Ie not worth more than 5k? Not worth any effort, in your opinion ofcourse.

Do you know if the town tax office would have a price tag on It?

Tks
Joe

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Re: NEED HELP: Pricing land in NJ - Posted by Tim Retzlaff

Posted by Tim Retzlaff on May 15, 2007 at 12:53:12:

I’m assuming that the 40x100 lot size is not a typo. You can bet the town tax office has a value assigned, but it may or may not reflect actual value.

If the parcel is landlocked that is another strike against it. You would have to negotiate an easement from adjacent property owners, which can be expensive & time consuming.

Unless I could negotiate a billboard lease, or thought I could sell it to an adjacent property owner, I wouldn’t want it at any price. Keep in mind that is for my area, your area may be different.

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Re: NEED HELP: Pricing land in NJ - Posted by Joe

Posted by Joe on May 15, 2007 at 14:01:23:

Do you know where i can go to get a real, actual appraisal of the land? I.e. the counterpart to a home appraisal but for land?

The more feedback and the more i think about it, seems i’ll pass. But id like to learn as much as possible about it anyway, and not leave any rocks unturned.

Seems my options are:

  1. Find a professional tht can give me a market value appraisal.
  2. Find out who the adjacent land owners are and see what they offer me (before i buy) …any idea how i can get names/contact of these owners…towns tax office?

Thanks for your time - appreciate it
Joe