So what’s land worth today?

67 Stag Lane

67 Stag Lane

This Stag Lane property sold for $805,000 in August, 1995. I think it’s fair to say that time has not been kind to the house since then and it could use, at the least, a new roof, windows, kitchen, baths, and probably mechanicals. In short, replacement is in order and whatever value the house may have added to the land fourteen years ago I’d say it was nil now.

So what’s it worth? The owners tried selling it for $2.295 million back in 2005, when the market was strong, but got no takers. It’s back now at $1.999, and we’ll just have to see. The five acres are on the good (north) side of Stag, away from the Merritt, but there’s a stream that wends its way around most of the property and Stag Lane itself has never commanded top dollar. Wait and see.

2 Comments

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2 responses to “So what’s land worth today?

  1. anonymous

    Well, $400K/ac ask vs ?228 RHR is what ~$1MM/ac ask

    Would pay for great land; can’t fix bad land; bad land tends to be bad value at any price

  2. SizeBuyer

    Nothing, like you said it is surrounded by a stream/wetlands. Stay back 50 feet all around and now how much land do you have? Not much.

    I never understood owning wetlands. The town already has a say on what you can do on your property why give them more control?