The house next door is currently asking $125,000 and he’s asking $325,0000[/quote]
The $125K house is 1784 sf and Dr. Paul’s longtime homestead is 5500 sf. If this area is not on tract, then this price discrepancy is common in TX. Residents there normally build the type of home they want or need on the land they have available. If Dr. Paul actually built the house 42 years ago on land he previously owned, then the smaller, neighboring houses were already there and didn’t bother him at the time.
I don’t have any proof, of course, but based upon my personal knowledge of semi-rural and rural lifestyles in that area, Dr. Paul’s house was likely paid off many years ago.
Longtime Texas natives typically buy land and build houses exactly the way they want. They don’t care if there is a grain elevator next door, a cattle ranch or a small house. The small neighboring houses will not affect Dr. Paul’s value as he’s not asking for the moon, IMO.
