A look at how some Charlotte homes have changed over 50 years ...
... and how much values have appreciated!
(Images are a little light due to malfunctioning microfilm reader which is now fixed.)
Hampshire Hills
1964 price: $18,100
2011 tax value: $93,700
+ + + + + + +
Southwood
1964 price: $13,850
2011 tax value: $79,900
+ + + + + + +
Lake Forest
*I'm sure the ad should read '7617 Rolling Hill'. (7615 is a split-level.)*
1964 price: $24,500
2011 tax value: $138,300
+ + + + + + +
Shannon Park
5717 Ruth Drive
1964 price: $18,800
2011 tax value: $94,600
5222 Grafton Drive
1964 price: $18,950
2011 tax value: $96,100
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3 comments:
Maria, based on their listed selling price and the tax values you've provided, none of these houses have kept up with inflation.
It calls into question the long-held view that buying a home is a good investment. This is especially true if the mortgage interest deduction is phased out as the nation tries to balance its books.
Of course, if you pay off the house you have a roof over your head. Homes contain memories that cannot be valued other than to say, priceless. Neighborhoods of homeowners tend to be more stable and better kept than neighborhoods of renters.
But these homes and many others you've spotlighted aren't good investments.
Anon - thank you for the insight!
those are all high crime 'hoods and have been for a couple decades or more
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