Land Development Values - Intended Use
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Although this land development value series began with parcel yield in “Analyzing Land Development Value: Part 1,” the issue that really comes first is determining how the parcel can be used. Here’s one of the best explanations I’ve heard about why land use is related to value: a parcel of land is worthless to farmers unless they can grow something on it. Likewise, a parcel of land is worthless to a developer unless they can “grow” something by developing.