Finding out the
value of your lot / land can be tricky. Here are some things to consider
when determining the value of your lot:
One way to determine a lot's value would be to perform a land residual analysis. To do this work backwards from the potential final market value, minus the total cost of the development project. The remaining dollars will determine the lot value. To learn more about this process, view the rest of this article here
|Land values often require you to estimate the price of the land you are selling based on a set of criteria. There are 3 popular methods for estimating land values. To learn more about calculating land values, view our article here|
What do you do when your house is now worth so much
less than you what you paid for it that it is no longer feasible to pay
The answer for many home owners, is simply to walk away. This is known as strategic default.
During the housing boom it seemed as if house prices and lot values would simply go up forever. Well forever came to an abrupt end during the financial crisis leaving many underwater in real estate.
The solution for many of these home owners is to walk away from their homes and return the deed to the bank holding the mortgage paper.
Foreclosures are a big problem right now with many unable to pay their mortgages. But the practice of a strategic default is deemed shameful to some.
“How can you just walk away from your home when you can still afford to make payments on it?” ask many who cannot afford to make their own mortgage payments.
Does the bank feel shame when they foreclose on someone?
I doubt it.
So in America this has somehow become the new normal, the ability to walk away from a bad investment even if it happens to be your home.
|Can a website be considered a Lot?|
Domain Names can be Valuable Lots in Cyberspace
Owning a domain name such as a .com or .net address is certainly very much like owning a parcel of land. A .com, .net or other . web domain is like owning a virtual lot of land. Now if you build a website on that lot, it would be very much like someone that builds a house or other building on that lot.
Once again there is a similarity between the virtual and real worlds here, as some people own choice lots of land and choose to build little or nothing on them.
While others own obscure or less valuable lots and decide to build big on that site.
Valuing Domain Names
Valuing domain names (domain lot) is a tricky endeavor, things that should be considered are traffic, extension (.com, .net, .org; .com is still king) , age of domain, search engine saturation, search engine ranking, length of characters in the domain, marketability, competition, etc.
THE RELATIONSHIP between the cost of the lot and cost of the house is important.
Know the Lot Value before you buy.
This helpful website can
help you determine, how much your lot may be
worth, how to value a lot, how to value your land, or how to value your
internet domain lot.
stocksdoingwell.com/ - pick6.org/