Pluses & Minuses (2 Apiece) At least in my experience, for every long-time homeowner who’s (overly) invested in their home, psychologically-speaking, and can only see it through rose-colored glasses, there are another 3 (or 10!) hoping their home is a teardown, especially if it’s located in a hot area. Ditto for the listing agent waiting in...Read More
Pluses & Minuses (2 Apiece) At least in my experience, for every long-time homeowner who’s (overly) invested in their home, psychologically-speaking, and can only see it through rose-colored glasses, there are another 3 (or 10!) hoping their home is a teardown, especially if it’s located in a hot area. Ditto for the listing agent waiting in...Read More
Projected Selling Price: $171,400 Actual Selling Price: $155,000 In a post more than 4(!) years ago titled, “Tear-Down Economics: From Worst to First, or Housing ‘Leapfrog,” I posited a three-step test for determining how much the land underneath a given home was worth. In other words, how much the home would sell for as a tear-down....Read More
