[quote=bearishgurl]I agree with svelte, here, as it applies to CA. In buying an SFR in CA, you actually own the land your dwelling sits on. Like it or not (and regardless of what your local assessor says), THE VALUE OF THE LAND is what boosts property value in CA coastal counties. The closer to the coast your property sits, the higher your land value is in relation to your overall property value (market-wise) REGARDLESS of what the assessor says on your tax bill. This is ESPECIALLY TRUE for those properties situated within TWO MILES of the coast!
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That seems a rather archaic way of looking at things, and a bit reminiscent of old conveyancing when agricultural values held sway. It isn’t the actual intrinsic value of land that boosts or undermines prices, but the lack (supply) thereof. It is not just the ground surface, but the space above it when occupied by a structure, which itself has intrinsic—and currently market inflated value—that determines value. A preference for living by the coast adds a premium due to cooler temperatures and better air quality. The land, in the mean time, remains the same; pretty useless for growing anything. But i guess you were implying all that.
