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The building's worth goes down, but the land's worth goes up...?
by RangerScience 9y ago
The building's worth goes down, but the land's worth goes up...?
- Xcelerate 9y agoYep, this is what happened with my grandmother in West Meade (next to Belle Meade). The land has appreciated drastically, but most new buyers in the area just tear down the existing houses to build something new. It's kind of sad, really.
- alacombe 9y agowhich doesn't mean that the building was worthless, at best, it mean that the new building is expected to be worth more than the old one. With the current easy access to credit, why not ?
- ng12 9y agoI used to live close to this house in Palo Alto: http://valleywag.gawker.com/hoarders-house-in-palo-alto-is-on-the-market-for-1-8-m-1648912478 http://valleywag.gawker.com/hoarders-house-in-palo-alto-is-o... $2m plus the cost of a full teardown for maybe two thousand square feet of flooded land.
- IshKebab 9y agoYeah I don't know what homes he is talking about but in most of the UK the land is virtually all of the cost. People all want to live on the same land. That's why house prices go up, not because the physical homes are somehow getting more valuable. It's so obvious... how was this article written?