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Real Estate
Reply to "How do teardowns work, and do they really 'work'?"
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[quote=Anonymous]I find it hard to believe that a family who paid off their house in 1967 really cares that they aren't getting that extra 25K, but whatever. Have you considered that maybe, gasp!--they love their home and its memories and plan on leaving it feet first?[/quote] We don't find that hard to believe at all. People on our street get letters every spring asking if they'd do a friendly sale, the other 50 letters are from real estate brokers hoping they can get 3-6% from selling land, or better yet 3-6% fees on the land plus a $600,000 new build. Folks see the $800,000 their neighbor got in 2006 and the $550,000 the similar guy got in 2011 and get angry. Meanwhile, many just let their homes go, because (a) taxes & bills have increased so much and they're on a fixed income, and (b) they know they won't be selling to a move-in family. [/quote]
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