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dannybsmith
2009 Jun 23, 3:29am
Yeah, same appreciation should apply. The reason is b/c incomes should keep up with inflation, and that means people can afford to pay that much more for the same item.
Hi All:Ihave a quick question. Does the standard rule of 3-4% appreciation per year for home values correlate to land as well? Let's say someone bought a piece of vacant property in 2001 for $49,000 and there have been no significant improvements to the area around the property. In the simplest terms, would I be correct to assume that the property would be worth around $69,000 today?Thanks.Dutty