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Real Estate
Reply to "Was Your Neighborhood Nicer 20 Years Ago?"
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[quote=Anonymous][quote=Anonymous]There really seems to be a downward trend in maintaining homes. I don't know if it's a cultural thing or what, but even in very expensive areas some homes and yards just look terrible. Do people not have pride anymore? The avg home price in my neighborhood is probably $2M - 2.25M and some of the yards are horrendous. Shutters are peeling, old roofs, etc. If you can't afford maintenance, sell the house and move to a nice condo![/quote] I'm guessing a lot of this is very aged Boomers refusing to move out of their homes but no longer able to manage upkeep and stay on top of maintenance. My Dad who is 81 and has Alzheimers is still in his $2 million CCMD home and won't leave. My parents bought it in the 1970's. He has piles of money, landscapers, cleaning service, etc but certainly isn't up to hiring someone to replace the broken shutter (for example). Luckily I'm around to do that for him. The family estate lawyer has told us it is way better financially for him to die owning the house than to sell it as it will exempt the family from tax on the appreciation of the property. I'm not sure how true that is. His street is full of 70+ year olds hanging on to these 3, 4, 5 bedroom homes that could be sold to younger families. Unfortunately plenty of houses are instead just sitting there with professionally maintained landscapes while the paint starts to peel and more complicated maintenance projects don't get done. [/quote]
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