Quote:
Originally Posted by Obadno
Its had a lot of apartment and office development but it hasn't really had a lot of tear-downs or remodels of the housing there. I would actually buy in that area but I didn't like what the houses had to offer.
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The "litely renovated" houses have pushed the basis up too much to see more radical remodels. People aren't going to pay $300k+ to knock a house down. It puts the cost for the land closer to $1.2-$2m/acre, on par with prime PV lots. Most of the lots in those areas are less than 1/4 acre.