Would a housing tract (17 homes) with a lot size of 18000 sf (just under a half acre) reduce the value of surrounding homes on Rual lot sizes of 1+ acres? Most of the homes in the area are "semi" custom (Similar Floor Plans built by the builder) and not tracts. What if any would the surrounding market change, and how far around the tract would be affected?
Thanks
WYRD
Would a housing tract (17 homes) with a lot size of 18000 sf (just under a half acre) reduce the value of surrounding homes on Rual lot sizes of 1+ acres? Most of the homes in the area are "semi" custom (Similar Floor Plans built by the builder) and not tracts. What if any would the surrounding market change, and how far around the tract would be affected?
Thanks
WYRD
I think it depends on what the tract homes you are talking about look like and how well they are built.
There are a few questions that would need to be answered to make this puzzle fall together a little more.
1) Where are we talking location wise?
2) Quality of the homes that are existing on the 1+ acre lots?
3) Quality of the proposed tract homes you are referring to?
4) Square footages of both? Are we talking about a 4000 sq/ft home compared to a 1300 sq/ft home?
5) Are we comparing 2007 built homes to 1964 homes?
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