More taxes at SCP … I agree, AN. But let’s presume all-cash sales in each subject sold comp.

How much $$ is the new owner of this Stonebridge property going to have to put into it in order for it to be a “true comp” to the SCP sold comp?

In other words, how much would all this cost to intall in the SB property?

…wrought-iron stair-railing and front door, italian marble, fountain w/trellis, pool, patio/deck, covered gazebo, mature landscaping, etc…

And if the SB property was upgraded to the same level as the SCP property, would it sell for as much? In other words, are the recent sold comps in SB comparable to the sold comps in SCP? Which area sells for more $$ and why?

$1,025,000 (SCP sold price) – 948,135 (SB sold price + 25 yrs MR) = $76,865.

Is this enough to make up for the difference in improvements of SCP over SB? And does the new buyer have at least this much cash “laying around” to make same or similar upgrades?

If the answers are “no” to the questions (directly above), then the SCP recent sold comp is NOT a true comp to the SB recent sold comp. It is in a different category.

Also study the recent solds of each community, the level of distress in each community and other factors such as high power lines and convenience to or lack of amenities of each community and then decide for yourself which area would fare better in the future. Of course, this is not too easy of an exercise since we don’t really know what the future will bring in this volatile economy. In that case, study past performance of each community and decide which community has fared better (from an investment standpoint) since say, 2001 (the start of the millenium boom/bust cycle).

Overall monthly payments have nothing to do with current value or potential resale value.