Posted 29 April 2010 - 09:42 AM
I was reluctant to list the actual address on Simondale, but that is it . . . sitting on top of the actual west cliff, as in "Westcliff," with views for miles from the elevated backyard looking down over Tanglewood and lower elevations on the west side of Fort Worth.
On the listing itself, it is being positioned as a purchase for the lot value, not my idea, but the reality again of the dirt value in some areas.
The Alton Road lot I wrote of had a property sign with a "pending contract" but it is no longer there, so maybe the sale has closed. There was a very nice home on that lot, and one heck of a story making its rounds around the neighborhood as to how the home ended up being razed, but I don't think it is suitable for public consumption.
What has happened is so many smaller homes sitting on expensive dirt get sort of stuck in a situation where the improvements have no value because they will likely be removed (razed) by the next owner. On the 2814 Simondale property, using this logic, the propery would actually be worth MORE with the home already removed since it would save the buyer about $15,000 to have it razed. And, even if someone went in and put, say, $100,000 into remodelling efforts, it would still be deemed a structure too insignificant for the value of the lot. That makes improving the existing structures in these cases, a bad business decision. It is a better decision, for sure, when viewed for the enjoyment of the home by its owners and not in the sense of it being just an investment decision.
Your grandparents would likely be sad to see their home removed I suppose, though likely bemused and tickled to know that likely, what a $20,000 property in the 1930s ???, has such a value these days.
They picked a great location, back then on sort of on the outskirts of town.