Transcription of A review of the subdivision development method - …
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A review of the subdivision development method - …
A review of the subdivision development method (Part I)By Tony Sevelka, AACI, P. AppIntroductionOne of the most controversial areas of appraisal theory relates to the use and application of the subdivision development method (SDM) as a means of estimating market value of undeveloped land. failure to appreciate under what circumstances to apply the SDM, how to properly assess the types and levels of risk associated with the subdivision process in the con-text of highest and best use, and the provision for developer s profit are the most problematic aspects of the , the SDM has been viewed with skepticism. Lack of consistency in the application of the SDM and the many names assigned to the method have failed to produce a unified body of valuation theory.
A review of the subdivision development method the appraisal and development communities as to how devel-oper’s (entrepreneurial) profit should be computed.4 • The numerous steps, including
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