I wouldn't be surprised if you decide to look for lower hanging fruit before venturing off to court-confirmed sale, though.

MLS is not fruitful- inventory is low on these tear-downs and demand is high.

"if it aint low hanging fruit I aint eating".

I put your comps and those that are for sale around them in realtor.com or zillow's pictures to get a better handle on qualitative differences such as floor type, countertop type, appliance quality, etc...Once you identify what's different you can then see what a particular difference translates into in the form of a raw dollar amount.

THis is common when they have a non industrial size property with a  home on it and a RE agent just comps it like its a home. and has no clue to the timber value.The other way you make spreads in raw land is conversion of use..

The report I was looking at, the following were our 2q08 #'sFor all homes in BK, the median price was down 6% and the medium price was $521kThe average price was down 2% with an Avg price of $569kSales were down 29%I believe the raw data comes from the Dept. of Finance in NYC, but everyone's report will be slightly different.

I also have raw land in West Texas, I plan on building another duplex to rent out.Thanks guys!!

We don't own any of the diciplines it takes to transform raw land to building lots then homes to sell.We sub it all out. so technically I think we are the developer.. only.. we hire GC to build for us on a fee basis. 

Title Insurance will be the most restrictive).Your illegal duplex might have the same Title Insurance problem as this post:https://www.biggerpockets.com/forums/44/topics/441853-need-help-with-colorado-1972-subdivision-law...although that pertains to an unapproved subdivision of a 10-acre raw land parcel.Good luck.

Hi, I'm working on writing a Warranty Deed and an Affidavit of Property Value for a raw land property that I'm buying in Arizona.