Potential clients called this week asking about the value of a double lot on a busy street in Sunnyvale. The house on one of the two plots is quite run down, and the other is vacant. The magic comes from the school district...being located near some of the top Cupertino Schools will make this property valuable to a contractor who wants to tear down the existing house and build a large new home.
Coincidentally, my son Dave sent this photo of the autumn view from his patio in Michigan today. Earlier this year, they bought this lakefront property consisting of 10 acres and a huge older home for under $400,000. With their extensive remodeling, the value would be about a million dollars. In the Bay area, it would be priceless...if such land existed. Well, at least we don't have snow.
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