What’s two acres worth?

Not much, if its marginal land. 109 Dingletown has sold for $1.150, a drop from its 2009 asking price of $1.690. The house is livable but I’d guess it contributed zero to this price. The lot is located down a looong driveway which doesn’t get counted in FAR calculations, so you lose there, and much of the remaining land is cliff. But a decent enough, albeit very small back yard with a pool badly in need of repair.

I think – he can correct me – this was the exact price I told my client he’d pay if he wanted it. Turns out he didn’t.

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2 responses to “What’s two acres worth?

  1. Anon

    After almost 1,000 days on the market, the seller finally accepted reality.

    It sold well below its 2010 assessment. Not surprised at all.

  2. Anonymous

    So if this went for $1.1, then 129 Dingletown shouldn’t get more than $1 million.