Only a Little News
I might have deals later today but that's unforseen. I have a basement that's trying to flood that is a priority today.
Here's a quick follow up on Appreciation in Newburg & Richlawn
Last week I mentioned a couple of resales of remodeled properties and the one in Newburg appreciated quite a bit. I decided to analyze remodeled and unremodeled sales for both areas to see what's really going on. Here's what I found -
The Newburg data contradicts the anecdotal story from last week. Not that surprising really. Did anyone really thing Newburg would gush up 27% in appreciation in one year? What is surprising is that it looks like prices of remodeled and unremodeled properties stagnated in 2018. The most interesting part of the graph however is the healthy ~$72 per sq.ft. premium for remodeled house.
Richlawn remodeled prices have flattened while the lower end of the market is following behind by about $40 sq.ft. and is currently trending up. There's a big dip in unremodeled prices in 2018 but you can draw a fairly straight line from mid 2016 to the current position of the trendline.
Stay dry everybody.