Eugene
The point is $/sf comparisons are only valid when you are comparing the same size house. A 10×10 tent (100 sf) on a lot like that would sell for lot value and the $/sf would be over $3000/sf.
I sold some of those houses in PQ a year and 2 years ago. The ones this size were far inferior quality as was the area. The subject house feeds into one of the top elementary schools in the county, is 2 miles to the beach and located in a much more upscale area.
I short sold one of the lowest comps in the PQ area over a year ago. It was a complete dump of house with 960 sq ft and it sold for $360K. It needed a major amount of work and didnt have nearly as nice a lot as well as some ambient freeway noise from the 15.
I agree. Unless the land is worth $0, PPSF of individual houses is not useful for comaprative purposes unless they are within 10% of the same sieze, on the same sized and similarly situated lot, have similar characteristics and are of similar age.
However, ppsf is valuable as an aggregate price tracking mechanism (as Rich uses), since on average the things mentioned above tend to average out.
I agree. Unless the land is worth $0, PPSF of individual houses is not useful for comaprative purposes unless they are within 10% of the same sieze, on the same sized and similarly situated lot, have similar characteristics and are of similar age.
However, ppsf is valuable as an aggregate price tracking mechanism (as Rich uses), since on average the things mentioned above tend to average out.
I agree. Unless the land is worth $0, PPSF of individual houses is not useful for comaprative purposes unless they are within 10% of the same sieze, on the same sized and similarly situated lot, have similar characteristics and are of similar age.
However, ppsf is valuable as an aggregate price tracking mechanism (as Rich uses), since on average the things mentioned above tend to average out.
I agree. Unless the land is worth $0, PPSF of individual houses is not useful for comaprative purposes unless they are within 10% of the same sieze, on the same sized and similarly situated lot, have similar characteristics and are of similar age.
However, ppsf is valuable as an aggregate price tracking mechanism (as Rich uses), since on average the things mentioned above tend to average out.
I agree. Unless the land is worth $0, PPSF of individual houses is not useful for comaprative purposes unless they are within 10% of the same sieze, on the same sized and similarly situated lot, have similar characteristics and are of similar age.
However, ppsf is valuable as an aggregate price tracking mechanism (as Rich uses), since on average the things mentioned above tend to average out.
