Brooke Smith Land Value-Early 2014
Brooke Smith (often misspelled Brookesmith) is an area that has had a remarkable transformation. It had always been “on wrong side” of N Main; the less desirable side. That has changed tremendously. Less than two years ago, tear-downs (or remodel projects if you were brave enough) were selling for $80-$100k.
Now, the majority of Brooke Smith”land value” homes in the last 4 months sold for $165K to $195K.These are 5000 SF lots, so prices average ~$34/SF for Brooke Smith land value. There was one property that sold for only $109K after being on the market for almost 9 months. I don’t know what the problem was with it.
I am attaching a pdf of Brooke Smith Land Values, on the market or sold since last September. Ignore the $/SF shown, it refers to the SF of the structure, not the land. Divide the price by the SF of land to get land price/SF. These reports are a little cryptic, but you should be able to decipher it. Call if you have questions.
Here is the transformation: Compare the land value of a typical Brooke Smith home of $170K to what this would have bought under two years ago. 609 Pittman, a small (984 SF) but beautifully redone 2/2 sold for under $175K two years ago. $175K would buy a gorgeous remodeled home, now it buys a remodel project or a tear-down.
One last comment. My biggest Realtor gripe…crappy photos. Check out the second property on the pdf list link. What the hell is that? I can’t tell. If the Realtor can’t get out of the car to take photos, he should at least slow the car down when taking them. Sheesh!
Brooke Smith is one of many Heights neighborhoods. For more information on the Heights/Greater Heights please see the following pages:
- My Page on Brooke Smith Homes. This gives a description of the neighborhood plus MLS Home Search
- My page on the Heights/Greater Heights, the one source for understanding the Heights
- Heights Historic Districts. Maps, locations, descriptions of 7 Heights historic districts
- Interactive Heights Map See how this jigsaw puzzle of neighborhoods fit together