Yankees and halfbacks jacking up land prices

#26
#26
TennTradition said:
I agree that 45,000 an acre is crazy for that location. I don't want to hijack the thread, but something interesting is happening across the street from me that I wanted to mention. There is a little 1/4 acre lot or so across the street. I live in a small town a few miles outside Boston - so we're not talking Beacon Hill here. A small, one-story single family home sat on that lot, and it sold late last year for about 400,000. This summer, the owners tore it down and have built in it's place a larger, two-story two-family home. I don't know what their investment in the new home is ... but, still....that essentially means that bought the plot of land - ALONE - for 400,000. The fact that this seemed like a reasonable purchase - and a good idea for building the home you want is astounding to me. That's about 1.5 million an acre!
Click to expand...
that's happening a ton here in Charlotte. little mill houses near down town selling for 1/4 to 1/2 a million, they tear 'em down, or renovate them, and turn it in to a 3/4 million property.

it's even worse/better, depending on your pov, in Meyers park.....old money neighborhood, traditional two story and 1 sotry SFH's, on large lots, tear 'em down and build all brick really nice homes......buy 'em for 3/4 a million, when done, 1 to 1.5 million......in value. in some places, well over 2 million per.......even in some of the run down neighborhoods that are being revitalzied, 10 years ago, people starting buying those houses for 75, 80 grand.......today selling them for 200k-350k
 
#27
#27
jakez4ut said:
in some places, well over 2 million per.......even in some of the run down neighborhoods that are being revitalzied, 10 years ago, people starting buying those houses for 75, 80 grand.......today selling them for 200k-350k
Click to expand...

You just described downtown Chattanooga between 8th St and 10th St. In 10 years, the whole demographic of that area will be completely different...
 
#28
#28
It's what is happening in SE DC. Locals are calling it gentrification. Crack houses are being torn down for high rise condos and apartments.
 
New Posts
You must log in or register to reply here.

Advertisement



Back
Top