Wednesday, September 1, 2010

1897 Brawley School Rd The Point Lake and Golf Club Sold

This new home located near the 9th green sold recently for $732,500 or at 87% of it's latest asking price. Built by David Dibble in 2007 and originally listed in late 2006 at $999,000, the home with 4615 square feet, had a selling price per sq ft of $159. It has a tax value of $1,037,260. Which brings up an interesting point about tax values and how in The Point on homes built around 2007 and at the top of the bubble the values seem to be way off the mark to current sales prices. If you read the post below this, the tax value on that waterfront home is around 500k more. I would argue that the land cost alone is 500k more for that waterfront property and the home is almost twice the size and would have significantly higher building costs. So, be careful about using tax values as your measurement of home value. It is close on a lot of homes but can be way off on others and especially waterfront in which land costs can be significantly different.
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