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Re: Property appreciation crystal ball.....
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Posted by cryptical [Email] (more from cryptical) on Mon, 28 Mar 2005 20:34:26 Share Post by Email
In Reply to: Property appreciation crystal ball....., John in CT, Mon, 28 Mar 2005 20:27:14
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You get hammered with property taxes in NY state though. But I do agree it's a really nice area.

I grew up in Darien and I find it absolutely amazing what people are spending for property there now. They really aren't even looking for the house, just a place on a nice size lot to level the existing home and build a 6000+ sq ft house.

My parent's neighbors of many years just sold their home. A small cape...maybe 1400 sq ft maximum on 1/2 acre tops. Put it on the market for $840k or so, and I believe it went for about $865k after a small bidding war. The place hasn't had an interior update in almost 30 years, including paint! The exterior wasn't much to look at either. But sure enough, sold in under a week and I can bet it will be leveled soon enough.

Seems like every 5th house in town has a dumpster in the driveway and some building going on whether it's new construction or an addition.

posted by 24.151.98...


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