"Roger Chapman" wrote in message
...
Doctor Drivel wrote:

What is the value of the house inc land? As the land is approx 2/3 of
the value of the house take this figure. Then measure the square footage
of the land. What ever the footage is of the strip to sold that is the
price you charge.


As usual Dribble is totally divorced from reality. The size of a garden
makes some difference to the value of a property but not a great deal
unless there is real potential for another building plot.


True
I had reason to look into the value of a ransom strip some 20 years ago
and the advice then was the owner could hold out for as much as half the
expected profit from the landlocked land.

Eh? The owner could hold out for twice the expected profit if they wanted -
they wouldn't get it but there isn't a limit!

It's his land to sell or not for whatever price he wants.

Everyone seems to be under the misapprehension that land (and houses) have
an intrinsic value. As things stand, in this country, it is as close to a
free market as you can get (although not perfect as Dr D will point out).
The value of land is entirely extrinsic and is "whatever someone is willing
to pay"!


--
Bob Mannix
(anti-spam is as easy as 1-2-3 - not)