Re: Markets and employment

From: J. R. Molloy (jr@shasta.com)
Date: Wed Dec 26 2001 - 19:31:40 MST


From: "Spike Jones" <spike66@attglobal.net>
> Depending on the lot size of course.

Depending more on where the lot is located.
A quarter acre downtown is a bit pricier than one out in the tules.

> In estimating the value of a house in Santa Clara, the actual size of
> the house does not matter much, only the size of the lot it sits on.

That's because land is much more expensive in Santa Clara than in less
populous areas, and also because developers can subdivide a large lot,
demolish the old house that was on it, and build more saleable new houses.

> This was especially true during the recent boom, since all the newly
> minted dot com jillionaires intended to tear down the house anyway, and
> build something else.

Exactly... and when they get tired of Santa Clara, they often discover that
their jillions can buy much more house, and incredibly more land, in some
rural areas such as Shasta county. As a bonus, they don't have all that city
traffic to fight.

> Under those conditions a bigger house would
> actually decrease the value of the property, since it would be more
> trash to haul off.

Yes, that's right, a big lot (with a small house) is a primary concern for
anyone who wants to build a nice, new house in the Santa Clara area. Out here
in Shasta county, that's not the way it works, because there is plenty of
vacant land to build on, and so, small lots near town are worth much more than
big lots out in the sticks.

--- --- --- --- ---

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