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Real Estate
Reply to "Prices dropping in MoCo???"
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[quote=Anonymous][quote] You don't get what PP is saying. The LAND appreciates. The HOUSE depreciates. In other words, what you're looking for is land. The age of the house is of little importance, as long as it's well-maintained. The "shiny new" house ends up being just a regular house as soon as people move in. [/quote] No, even house appreciates with time and not just land due to constructions prices going up. Over a very long time, house does depreciates and becomes a tear down. You are correct in that, but appreciation in the last 5 years is not just due to land appreciating. It's land + contruction cost going up. Also, in above example, no one had moved in the house. Builder sold two houses , same plot size, same plan. One sold for 300K less. That's not due to depreciation in 1-2 years. It's market going down for new build. I work in title company. Based on prices, market has certainly shifted. [/quote]
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