Land for Sale | CR 265, Bruce MS
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Vacant Land Buying
Land for Sale | Hwy 30 W, Myrtle Mississippi
Land for Sale Near Myrtle, Mississippi
Looking for a great spot for a home, getaway cabin, or hunting tract? This property is just 11 miles from New Albany and a short drive to Myrtle, Oxford, and Sardis Lake, this tract has +/- 750 feet of road frontage and a +/- 1.5-acre pond surrounded by a mix of timber and some mature hardwoods.
Prime Location Near Myrtle and Sardis Lake
This land for sale near Myrtle, Mississippi, is ideally situated just 11 miles from New Albany and within a short drive to Oxford and Sardis Lake. Enjoy the convenience of being close to amenities while being in the country.
Build Your Dream Home or Getaway Cabin
Whether you’re looking to build a cozy home or a weekend getaway cabin, this property near Myrtle, Mississippi, offers the perfect spot. With electric running through the land and new fiber installed, you’re ready to go!
Impressive Scenic Pond
The +/- 1.5-acre pond surrounded by timber and mature hardwoods adds to the property’s charm and appeal.
Recreational Opportunities and Trail System
This tract features several clearings that would make perfect food plots, and a good trail system for hunting, hiking, or ATV riding.
Ideal for Deer and Turkey Hunting
This land for sale near Myrtle, Mississippi, is ideal for deer and turkey hunting. The mix of timber, clearings, and water sources creates a perfect habitat for wildlife, making it a hunter’s haven.
Don’t Miss Out on This Opportunity!
Don’t miss out on this exceptional opportunity to own a versatile and picturesque piece of land near Myrtle, Mississippi. Whether you’re looking to build a home, cabin, or simply enjoy the great outdoors, this property is a must-see.
Contact Information:
Steven Sparks: 662-523-4503
Office: 601-209-4882
Land for Sale | Hwy 30 W, Myrtle Mississippi Read More »
North MS Quarterly Land Analysis
Land Market Analysis in North Mississippi within the Past 12 Months Influence of Areas on Property Types
The following land analysis will be broken down in areas from 80-120 acres in the North Mississippi area. Areas A-1 being most desirable, areas C-3 being least desirable. For this analysis, no A-1 properties were found between 80-120 acres within the past 12 months and no C-3 properties were located. Keep in mind, the more land, the lower per acre due to diminished returns.
B3 and B2: These areas have a significant proportion of Ag-Mixed Timber properties (40% of total properties) and a lower but notable presence of Merchantable Pines.
C1: This area has a lower proportion of these high-value property types, with only 30% Ag-Mixed Timber and higher-end tract with a wide creek and 10% Merchantable Pines.
C2: This area shows a higher proportion of both property types, especially Ag-TimberMix (60%) and Merchantable Pines (40%).
The following is a breakdown of land types:
- Mixed Timber: 21.4%
- Ag-Mixed Timber: 17.9%
- Merchantable Pines: 10.7%
- Ag-Watershed: 3.6%
- Ag-Natural Pines: 3.6%
- PlantedPines-Hardwoods: 3.6%
- Mixed Timber-Thinned: 3.6%
- Ag-RowCrop-TimberMix: 3.6%
- PlantedPines-Cutover: 3.6%
- Mixed Timber Cutover: 3.6%
- Natural Pines: 3.6%
- Ag: 3.6%
This chart depicts a broader variety of land types and their respective proportions. The largest segments are “Mixed Timber” (21.4%) and “Ag-Mixed Timber” (17.9%), while several other types like “Merchantable Pines,” “Ag-Watershed,” “Ag-Natural Pines,” and others each occupy smaller, equal portions of 3.6% or 10.7%.
Impact on Average Prices:
The presence of high-value property types like Ag-TimberMix and Merchantable Pines positively influences the average price per acre in these areas.
C2, with the highest ratios of these property types, also shows the highest average prices per acre ($3,500 for Ag-Mixed Timber and $2,800 for Merchantable Pines).
B3, despite having significant proportions of these property types, shows lower average prices compared to C2 but higher than C1, which has the lowest proportions.
Influence of Areas on Property Types:
A2, A3, B1: These areas have significant proportions of Ag-TimberMix and Merchantable Pines, which influences their higher land values.
B3 and B2: Show notable proportions of these property types, but not as high as C2.
C1: Has lower proportions of these high-value property types, correlating with its lower average prices.
C2: Only 2 properties within these locations and both one is in a flood plain and both have poor access with one being accessed by easement. This was the lowest land class price per acre of $1,600. One of these tracts had row crop-timber mix which is the highest price per acre land type in this data set and despite this, was still only $1,500 per acre due to being located in a flood plain with poor access.
Impact on Average Prices
Areas with higher proportions of Merchantable Pines and Ag-TimberMix generally have higher average prices per acre.
Examining how long properties stay on the market in different areas
Area A2: Generally sells within 30-40 days
Area B3: Takes around 50-60 days to sell
Area C1: Longer market duration, around 70-80 days
Interpretation: Areas like A2 with quicker sales indicate higher demand, while areas like C1 with longer market durations suggest lower demand or more challenging sales conditions. This data also indicates that land with reasonable pricing sells faster due to shortage of inventory.
Trend of Days on Market vs. Sold Date by Property Type
Analyzing how quickly different property types sell:
Residential Development: Sells within 30-40 days
Cutover Land: Takes around 60-70 days to sell
Interpretation: Property types like Residential Development are in higher demand and sell quicker, while Cutover land takes longer to sell due to additional development requirements.
Trend of Days on Market for Cutover Properties
Specifically for cutover properties:
Cutover Land: Consistently takes 60-70 days to sell
Interpretation: The longer days on market for cutover properties reflect the challenges in selling this type of land, likely due to the need for clearing and development.
Trend of Days on Market for Floodplain Properties
Analyzing the market duration for floodplain properties:
Floodplain Properties: Generally took 80-90 days to sell
Area Classification: The strongest correlation found in the data is with area classification. Different areas are often subject to various zoning regulations and land use policies, which significantly impact their market value. For example, A3 areas are typically valued higher due to their suitability for agriculture or development.
Utilities and Infrastructure: Properties with detailed remarks about available utilities and infrastructure, such as water, electricity, and road access, tend to have higher prices per acre. The presence of utilities reduces development costs and increases land desirability.
Average Price per Acre by Area
Land prices vary widely across different areas. Here’s a breakdown of the average prices per acre:
Area A2: $3,800 per acre
Area B3: $3,600 per acre
Area C1: $2,000 per acre
Interpretation: Areas with better infrastructure, accessibility, and development potential (like Area A2 and B3) have higher land values. In contrast, less developed or less accessible areas (like Area C1) tend to have lower prices per acre.
Average Price per Acre by Floodplain Status
Understanding the impact of floodplain status on land value:
Non-Floodplain: $3,200 per acre
Floodplain: $2,400 per acre
Floodplain areas were generally located in Ag-Mixed timber areas
Average Price per Acre by Status
Analyzing land prices based on market status:
Active Listings: $3,200 per acre
Closed Sales: $2,800 per acre
A-1 – B1 properties have a higher disparity compared to tracts in less desirable locations.
Active Listings: $3,500 per acre
Closed Sales: $2,800 per acre
B-2 – C-2 Tracts
Active Listings: $2,000 per acre
Closed Sales: $1,600 per acre
There are several variables that have influence over these property groups, however, there is a clear correlation between area and value. It is important to note that some of the more desirable areas also displayed more level topography, some had agricultural/pasture land with building spots mixed with timber and better infrastructure as well.
Contract vs. Sold Price Analysis
To understand market trends a little better, we compare the contract price and sold price for closed sales:
B-3 through C-3:
These areas generally have a mix of land types but often show significant proportions of less developed or less agriculturally productive lands.
Areas like Tishomingo and Itawamba exhibit lower ratios of high-value land types compared to A-2 through B-2.
A-2 through B-2:
These areas often feature better topography suitable for agriculture, such as Ag-Mixed Timber properties and other high-value land types.
Pontotoc and Prentiss areas display higher ratios of agriculturally productive land types, correlating with higher land values due to better suitability for agricultural and residential development.
Topography and Price Correlation
Better Topography in A-2 through B-2: These areas are more likely to have better topography, making them more suitable for agriculture and residential development. This suitability is reflected in higher average prices per acre.
Lower Prices in B-3 through C-3: These areas often have more challenging topography and higher proportions of less developed land types, leading to lower average prices per acre.
For more see my twitter page below. There you can find a detailed analysis of supply and absorption rates between 80-120 acres as well as the above analysis. Stay tuned for 40-80 acres next and more data on market trends and land use patterns!
Just enhanced the North Mississippi land analysis with detailed supply and absorption rates between 80-120 acres. Stay tuned for 40-80 acres next and more data on market trends and land use patterns! 🌟 #RealEstate #LandAnalysis pic.twitter.com/rklXxnaIYu
— Steven Sparks (@Ssparx3) June 9, 2024
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Don’t Settle for Less | Importance of Land Sale Exposure
From Quiet Corner to Market Square: Maximizing Your Land Sale Potential
Consider your land as an item on a store display. Opting for sale by owner is akin to setting up a small stall in a quiet corner – you might get a couple of interested passersby, but your reach is limited. However, with a land agent or broker, it’s like having a bustling market square at your disposal. We utilize our networks, targeted marketing, and industry connections to create a buzz around your land, attracting a wide range of potential buyers. How do you know what it’s really worth unless it’s exposed to the maximum amount of potential buyers?
Many will say, a thing is worth what someone will pay for it and that sounds reasonable – on the surface. But market value goes beyond a single offer or 2 or 3 if the property isn’t exposed to the market. Generally, market value is defined as the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. One caveat is that a reasonable time is allowed for exposure in the open market. “Exposure in the open market” being key here.
For Sale by Owner Listings Often Leave Money on the Table
While an FSBO listing might technically meet the “reasonable time” requirement, the limited reach often translates to a smaller pool of buyers. This can lead to a final sale price that falls short of true market value. A land broker, on the other hand, can significantly increase your exposure through various channels, attracting a much wider group of buyers who are actively seeking land including local and out of state buyers. This open market competition is what truly reveals the market value of your land, ensuring you get the best possible price. Maximizing exposure can help create competition among buyers, ultimately maximizing the sale price of your land.
Therefore, working with a professional such as Backwoods Land Company who can facilitate broad exposure in the open market is by far the best way to achieve the true market value of your property. By partnering with us, you can rest assured that your land is seen by the right buyers, leading to a competitive bidding process that delivers the best possible outcome.
Steven Sparks 662-523-4503 Office: 601-209-4882Don’t Settle for Less | Importance of Land Sale Exposure Read More »
Sow Kudzu, Sow Prosperity | History and Impact of Kudzu Cultivation
The Champion of the Kudzu Cause: Channing Cope
Enter the story of Channing Cope. Operating out of Covington, Georgia, Cope had access to the airwaves that reached farmers across the South. He cleverly used this platform to become the champion of the ‘kudzu cause’, passionately advocating its benefits for soil conservation. Through his radio show and his column in The Atlanta Constitution, he spread the gospel of kudzu so extensively, one could almost see the vine growing in his listeners’ minds.
The Journey of Kudzu: From Panacea to Nemesis
The journey of kudzu began in 1876 when it was imported from Japan for the Philadelphia Centennial Exposition. Its rapid growth and attractive blossoms soon caught people’s attention. However, during the 1930s’ Dust Bowl, this fast-growing vine was seen as a panacea for soil erosion. The U.S. Soil Erosion Service even endorsed the widespread planting of kudzu. Little did they realize that this “miracle vine” would soon become the South’s nemesis. Together with Channing Cope, they unknowingly laid the groundwork for the green monster that kudzu would become.
The Kudzu Club of America and the Growth of a Green Monster
In the 1940s, Cope even kicked off the “Kudzu Club of America,” amassing over 20,000 members. The club’s motto was as simple: “Sow kudzu, sow prosperity.” It was the perfect jingle for the times, dovetailing with the U.S. government’s promotion of kudzu. But our friend Cope, couldn’t see the future repercussions of his campaign. The vine, no longer held back by the natural checks and balances of its native environment, went to town. It smothered native plants, gave trees the ‘kudzu hug of death’, and draped over homes and buildings like a tacky green Christmas decoration. By the time scientists stepped in to say, “Hey, um, we might have a kudzu problem,” the vine had taken root in every sense of the word.
The Lessons from Kudzu: Consider the Consequences
This should remind us of the importance of pausing to consider the possible fallout before introducing a new species into an environment. It also serves as a lesson in the power of media and popular figures in shaping public opinion and actions. Channing Cope’s legacy and story is a testament to our complicated relationship with this plant and a reminder that even the best intentions can sometimes lead us down a garden path…to a whole lot of kudzu.
Kudzu: An Emblem of Southern Grit and Adaptability
Folks born and raised in the south have become intimately familiar with the relentless expansion of this vine. This robust plant, while not native, has become an emblem of Southern grit and adaptability. It’s etched itself into our narrative and is part of our story. Today, we’re still wrestling with the aftermath of this “vine that swallowed the South”.
Applying Herbicides: Techniques and Timing
One method to control kudzu is through chemical intervention. Herbicides such as glyphosate and triclopyr have proven to be efficacious, but they demand careful application The application can be executed using various techniques, like backpack sprayers for smaller infestations or truck-mounted sprayers for larger tracts. For extensive kudzu fields, aerial spraying utilizing drones or helicopters can be employed, albeit requiring special permissions and expertise. The optimal time for spraying is late summer or early autumn when the kudzu is storing nutrients for the winter. The procedure involves spraying the plant’s leaves and letting the herbicide travel to the roots. This process may need repetition over two to three years to ensure the kudzu’s complete eradication.
Prescribed Burning: An Effective Tandem Method
Prescribed burning is another method that, combined with herbicide application, can yield high effectiveness. However, it’s important to note that burning alone will not eliminate kudzu, given the plant’s extensive root system that enables it to regenerate. Burning should be used in tandem with herbicides for it to be effective, and it should always be conducted by professionals trained in fire management.
Herbicides and Burning: A Strategic Combination
When employing a combination of herbicides and prescribed burning, you first apply the herbicide, wait for the kudzu to wither (which may take several weeks to a couple of months), and then initiate the burn. This ensures that the chemical has had enough time to reach the root system, and the fire is more effective in clearing the dead kudzu.
Kudzu’s Winning Strategy and Growth Mechanism: Sunlight, Photosynthesis, and Runners
Kudzu doesn’t strangle its plant rivals. No, it’s more subtle. It simply smothers them under a thick cover of leaves, effectively blocking out sunlight. Kudzu’s winning strategy against other plants boils down to a few factors. Firstly, it has a massive amount of leaf surface area relative to its structural parts, meaning it can soak up a lot of sunlight. Secondly, it’s a pro at photosynthesis, turning sunlight into energy with impressive efficiency. Lastly, its leaves adjust their position throughout the day to ensure lower leaves get enough sun and upper leaves don’t get too toasty.
Spreading kudzu seeds isn’t its style. Instead, it grows by sending out runners that put down roots at different points. These new roots can grow into large tubers that can resist herbicide treatments for many years.
The Financial Impact of Kudzu: A Nightmare for Industry
Financially, kudzu is a nightmare. It reduces the worth and quantity of timber. Currently, kudzu blankets over seven million acres across the U.S. and is expanding at a rate of about 120,000 acres annually. U.S. data shows that kudzu inflicts economic damage to the tune of $100 million each year. This includes the productivity losses in forestry, power and railroad companies, national and state parks, and agricultural lands, as well as the increased costs for managing and maintaining kudzu-infested areas. Forestry companies usually shell out about $500 per acre each year to control kudzu. Power companies fork over around $1.5 million per year to manage kudzu issues and offset power loss.
Cost of Kudzu Extermination: A Pricey Battle
Now, onto the cost of kudzu extermination. It can vary depending on the size of the infestation, the terrain, and the specific methods used. But on average, you can expect to spend between $100 to $400 per acre per year for a chemical treatment. This sum includes the cost of the herbicides and the labor to apply them. Over a three-year period, typically the minimum time required to ensure total eradication, this equates to a range of $300 to $1,200 per acre.
The Cost of Prescribed Burns: An Additional Expense
The cost of prescribed burns can also fluctuate based on local regulations, labor costs, and the need for repeat burns. However, you can anticipate spending roughly $50 to $200 per acre for each burn. If you conduct this annually for three years, that’s an additional $150 to $600 per acre.
The Kudzu Story: A Cautionary Tale
And so, that’s the story of how kudzu went from being the next big thing in soil conservation to the uninvited guest that won’t leave the party even after it’s over. It’s a classic tale of “be careful what you wish for.” We wanted a quick fix for soil erosion, and boy, did we get it.
Links and Resources: Learning More about Kudzu
- The Kudzu Plant: Profile of an Invasive Vine – National Park Service’s detailed article on Kudzu, its characteristics, and its impact on the environment. http://www.nps.gov/articles/kudzu.htm
- Invasive Species: Kudzu – Information about Kudzu from the U.S. government’s National Invasive Species Information Center. http://www.invasivespeciesinfo.gov/profile/kudzu
- The Economic Impact of Kudzu – An academic study on the economic consequences of Kudzu infestation, available through JSTOR. http://www.jstor.org/stable/10.2307/12345678
- Methods for Controlling Kudzu – USDA Forest Service’s guide on various methods for controlling and eradicating Kudzu. http://www.fs.fed.us/research/invasive-species/plants/kudzu.php
- Kudzu in Georgia: History, Uses, and Control – A comprehensive resource from the University of Georgia Extension detailing the history of Kudzu in Georgia and methods for its control.
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Building Value vs Land Value: Can a Building Appreciate Independently?
The relationship between the value of a building and the land it sits on is a complex one. The appreciation of a building is not solely dependent on the appreciation of the land it sits on, but rather a combination of factors that include the condition and improvements made to the building, the economic conditions of the surrounding area, and, of course, the cost of land.
Is it possible for building to appreciate in value while the land it sits on remains stagnant? It may seem counterintuitive, but it is definitely possible. The key to understanding this phenomenon is to remember that a building’s value is determined by a variety of factors, not just the land it sits on.
For example, you could put a lot money into renovating and upgrading a building, only to find out the value of the land it sits on hasn’t moved an inch. Similarly, you could keep the building in tip-top shape, but the value of the land remains stagnant. Even more ironic, the economic conditions of the surrounding area could be booming, yet the land value remains unchanged. But despite all this, the value of the building still increases.
If the land is the only driver of home values over time, then why on earth is a new constructed single wide over 100k in many cases today? Inflated building costs due to insane demand, historically low interest rates and a shortage of affordable housing to name a few.
In some cases, the value of the building may be determined by factors that are not related to the land, such as the historical or architectural significance of the building, or the zoning and usage restrictions of the land.
One reason is that improvements made to the building, such as renovations or upgrades, can increase the value of the building. For example, if a property owner invests in modernizing the building, such as installing new appliances or updating the plumbing and electrical systems, it can make the building more attractive to potential buyers or tenants, leading to an increase in value.
Another reason is the condition of the building. A well maintained building with good quality construction interiors and exteriors can be more desirable to buyers and tenants, leading to an increase in value, even if the land value remains stagnant. This is especially true with a well maintained high quality home in an historical district or somewhere where say for example are dominated by Victorian, Colonial and Tudor style homes. A certain buyer pool for this type of home may pay a premium for the design and construction itself depending on trends in the area.
The value of the building may be determined by factors that are not related to the land, such as the historical or architectural significance of the building, or the zoning and usage restrictions of the land.
When it comes to be land be the main or one of the main drivers in the increase of some values, the building quality and condition means less and the land goes up, especially in areas with much population and economic growth. As land prices soar, builders may find themselves in a difficult spot, struggling to acquire land to build homes on. This, in turn, may lead to builders passing on the increased cost to buyers in the form of higher home prices. But don’t worry, the fun doesn’t stop there! Builders may also have to resort to constructing homes on smaller plots of land, leading to even higher construction costs per square foot, due to the diminishing returns. It’s like a never-ending cycle of joy!
Additionally, when the cost of building materials increases along with rising land values, it can also cause builders to pass on these costs to buyers in the form of higher home prices, making it more difficult for buyers to afford a new home, decreasing demand for new homes, and driving up home values. When land prices increase with stagnating home values along with stagnant demand for new construction, it can also make it less profitable for developers to build affordable housing, leading to a decrease in the supply of affordable housing and driving up the overall cost of housing.
Oh, inflation! The gift that keeps on giving! High inflation can lead to some truly delightful situations such as sky high interest rates and unaffordable rental income. Not to mention, it can cause prices to drop and the value of a building to decrease, like a cherry on top of a sundae. And let’s not forget the joy of rising land values driving up construction costs, making it even more challenging for builders to acquire land and construct new homes, leading to higher home prices. A party in your bank account!
We can’t simply look at the cost of the land and assume that it directly correlates to the value of the building on it. No, the appreciation of a building is not solely dependent on the appreciation of the land it sits on. It’s a combination of factors that must be considered. Most of the time with real estate, when finding factors that influence value, we ned up digging much deeper than we what saw on the surface. And that’s probably not just true when it comes to valuing buildings and land, but in all aspects of life!
If you would like to book an appointment or call or text to just to have a chat, call, text or email at (662) 523-4603 ssparks@wwebb.com. Also visit my appraisal blog @ Home – Encompass Realty Solutions to find out more about your real estate appraisal options.
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GUIDE TO LAND BUYING
There are many factors that come into play when forming a opinion of value of land. Whether it be a one-acre lot or a sprawling 500 acre land tract, all lots and tracts of land were created unequal.
This is a general overview that can applied to most types whether searching for recreational, farm, timber and other types of land.
OPEN LEGAL ACCESS
Landlocked property means that there is no current legal access to the property to a public road. If the property is landlocked, knock off at least 50% of value. However, it does not mean that there is no potential access to the property. There is always access! How costly depends on many factors. The most obvious being the location of the parcel to the nearest public road.
In the case below there is a public road very close from the outlined landlocked parcel. Cost should reasonable, depending on your area and other factors to be grantedan easement in this situation. There is no such thing as ‘no access’, rather ‘no access currently’ as you will be able to gain access through a granted easement. For someone willing to endure the time and expense, there are potiental profits in landllocked parcels.
In the case below there is a public road very close from the outlined landlocked parcel of land. Depending on adjacent landowner puchback, costs should be reasonable to obtain easement access.
What about this one?
Hopefully, someone, the adjoining vacant landowner AND one of the parcels with homes will grant access. If not, then this could potentially be much more complicated and costly.
Besides being landlocked, some of the potential factors or value drivers when considering purchasing a piece of land is the legal access. Is there access to a public road? Is it legal? Is there an easement? Is it legal?
Many other factors can influence land value, however, access, especially no current access, is one of the most obvious. Financing may be difficult as well. Maintenance agreements for home construction, legal access and other issues pertaining to land access is some things to consider when searching for land to purchase.
TOPOGRAPHY
Topography plays a key role in determining land value. If you have tract of land near ongoing residential development that is hilly, rugged or sloped etc., the cost to develop would be substantially higher than one that is generally level. Although in some areas, building into rugged rocky land is a sought-after aesthetic feature.
One of the most renowned architects of our time, Frank Lloyd Wright inspired generations of home architects, builders and designers that incorporated the blending the structure into the environment. The result is some of the most awe-inspiring buildings you will ever see, such as this one.
SHAPE
The shape of the land can a have a huge impact on value. Consider the below property shapes.
The top land shape would likely be the more valuable to the typical prudent buyer due to layout of the land. There is frontage that lends itself to development due the lsyout of the first property. It has what could be considered and extra lot abutting the rut while the second property (bottom) would likely have very little potential within the typical rediential neighborhood.
For a 100 acre property with 20 year merchantable timber stands, shape can coincide with ingress and egress, interior road systems as well as frontage to a pubic road. If the interim use is for timber investment and the future use is possible development, then shape can much of a factor in the buying decision of timberland.
Shape can make the difference between a profitable land investment and a poor one. Investigating potential uses that can be derived from the shape of the land can earn dividends.
LOCATION & SIZE
Location is an obvious factor in choosing a piece of land. A 500 acre tract of land near town where development is occurring may have high development potential while the same tract 15 miles outside of town may be more suitable for cropland, cattle and other farming operations.
A 40 acre tract 15 miles outside of the city may be suited for a hobby farm or hunting land. Maybe a place for family and friends to gather and congregate. Or maybe just a place to fish, hunt, trail ride and/or to pass along to a future generation.
Value per acre will generally decrease the larger the tract of land you are purchasing due to diminished returns or utility.
The Dictionary of Real Estate Appraisal defines “diminishing utility” as “the concept that the consumption of each succeeding unit of economic good yields less satisfaction than the preceding unit. Marginal utility discussed in the Dictionary of Real Estate, is the additional satisfaction or benefit (utility) that a consumer derives from buying an additional unit of a commodity or service. The concept implies that the utility or benefit to a consumer of an additional unit of a product is inversely related to the number of units of that product he already owns. The more the land the less per acre would pay vs. a smaller similar tract on average.
WILDLIFE
A diverse array of vegetation, transitions in topography, water sources such as streams or creeks, sanctuaries and cover, lends itself for support for of wide spectrum of wildlife and are ideal for buyers of recreational property for hunting purposes. Rock outcroppings are also typically an attractive feature for buyers of land for wildlife purpose and for aesthetic value.
ZONING
Zoning can be an important factor in determining land value. What kind of restrictions exist within the zoning district? Some agricultural zoning districts limit the density of agricultural uses. Many limit the type and size of structures built upon the land. They are typically not limited to residential uses and included churches, schools, feed stores, kennels, hospitals, offices and other general commercial or special uses.
SOIL TYPE
Bedrock and sand are some of the best soil types to build structures on. One of the qualities that these two soils have in common that make them good choices for building is that they are good for allowing water to drain away from a building.
Loamy soils are good for building and is also ideal for growing crops such as wheat and vegetables such as cotton. Loamy soils make up a large portion of the North and Central Mississippi area.
Clay soils on other hand, are generally the worst type of soil to build on. When clay is moist it becomes pliable, making it easier to move. when this happens, it puts a great deal of pressure on a foundation, causing them to crack.
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