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Real Estate
Reply to "How do teardowns work, and do they really 'work'?"
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[quote=Anonymous][quote=Anonymous]The smart move IMO is to have one of the smaller houses in an area full of higher priced ones rather than build a $1.5M teardown-replacement in a neigbhorhood full of modest houses. The big houses stick out like a sore thumb, look out of scale, etc., and are just a total turn off to us. [/quote] True, but remember this is likely to change in the next few years, assuming it's a neighborhood that is desirable (close in) location-wise. The trend in this area is population growth, and traffic is only going to get worse, so a good location will keep its value over time. Those modest houses will be sitting on valuable land, and it will make financial sense to tear them down.[/quote]
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