Sits on a Whopping 0.229 acres
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Real estate market going crazy
- Thread starter lostchild
- Start date
It's beach adjacent...just cross through 4 neighbor's backyards and cross the highway.
People have lost thier minds. People with more money than sense. 1 freaking bath and washer/dryer outside!!!! Very small!!!
It’s on an island .
How much land is left to build on ?
All real estate , like wages , is priced according to supply and demand .
And real estate in most places has really gone up in the last few years .
Some places have gone up 50% in one year
Friend of mine bought a hoise in Smyrna in 2001, for $100k
Now in the same neighborhood people are paying $375k and bulldozing the houses to build a new one .
And he just got whacked with Cobb county’s 100% tax increase .
His property taxes are gonna be $8k a year if his appeal doesn’t get approved , which it won’t .
How much land is left to build on ?
All real estate , like wages , is priced according to supply and demand .
And real estate in most places has really gone up in the last few years .
Some places have gone up 50% in one year
Friend of mine bought a hoise in Smyrna in 2001, for $100k
Now in the same neighborhood people are paying $375k and bulldozing the houses to build a new one .
And he just got whacked with Cobb county’s 100% tax increase .
His property taxes are gonna be $8k a year if his appeal doesn’t get approved , which it won’t .
I think this is made worse with folks working remote. If you can work from anywhere the more desirable places will increase. At the same time folks are selling houses and having to spend the profits to avoid taxes and driving prices even higher. A guy that just sold a house for $750k thinks a house that’s $300k is a bargain it’s all relative
We have a place at SSI - and I researched property taxes after one bill arrived. First there is the homestead exemption but after certain age you can freeze the assessment. I never quite figured out what value it gets frozen to but it might be as low as the purchase price. I do know my next door retired neighbor is paying less than half of mine. Some were saying even less than that on Next Door.
Hey... that's huge for Saint Simons.
Lots now are measured in square feet.
And that’s how you reduce private ownership of property. Jack up property taxes to $10-12k a year with current interest rates and let’s see how many people can purchase or continue paying for a house? Maybe the investment firm that buys it in foreclosure will rent it to them…….. I hate to say it, but when the in-law neighbors pass, there will probably be a for sale sign put up.
