Leadership Strengths: Finding Your Highest and Best Use
December 21, 2017
By Kristen Harris In real estate, there’s a concept called “highest and best use.” When appraising a piece of vacant land or property, under this concept the value must be based on the most reasonable, probable, and legal use that is physically possible appropriately supported and financially feasible. For example, if a property is currently an industrial site but would have more value when redeveloped with residential buildings, that higher use is how the property value is determined. (With apologies to real estate experts–I know there are many factors that