This article summarizes creative valuation approaches for difficult properties: Value can be hidden below the surface. Oil must be drilled for many miles below the earth’s surface, while diamonds must be mined. Although a property may not instantly reveal the best way to appraise or value it for just compensation purposes, a little digging into how market participants actually determine a property’s utility may provide insight into methods of valuation that are distinct from the standard price per square foot or price per acre units of comparison utilized in “ordinary” cases.
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