Top Cities Where the Land is Worth More than the Buildings

Sometimes it just happens….the land itself is worth more than the structure that’s on it.  We’ve all driven through neighborhoods where “tear-downs” are in full season where the value of the land has appreciated but the homes have not.  In that context, the folks over at Realtor.com took data from the Lincoln Institute of Land Policy to put together a list of the top 10 cities where land value exceeds property value.

“In San Francisco, you see some smaller investors who buy old, poorly maintained homes simply for what can be done to the lot, not the existing homes,” says Patrick Carlisle, chief market analyst of Paragon Real Estate Group. “It’s not about the 1,100-square-foot home, but the 4,000-square-foot home they can build there after tearing down the old one.”

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