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What is a teardown, and are they good, bad or neither?

By
Services for Real Estate Pros with teardowns.com

It seems that the definition of a "teardown" depends on many factors; these individuals and groups would certainly have varying opinions:

1. A homeowner that lives in a newly constructed home that replaced another,

2. A preservationist,

3. City official,

4. Someone that currently lives in a home that is not new or a part of major renovation

5. The neighbor of a teardown and new construction that is in progress

6. A seller of a functionally obsolete home,

7. A buyer looking for a "land valued" investment in a prime market,

8. A buyer looking to build a new home in an established community,

9. A home builder

10. Realtors that work on commission

 

Definitions or opinions from organizations also varies:

Wiki - http://bit.ly/gOGjYQ

National Trust for Historic Preservation - http://bit.ly/ajUJsY

The Lincoln Land Institute - http://bit.ly/gWpWNN

We are brokers and agents.  We make our living specializing in this niche of the market.  Our experience continues to tell us that people have teardowns to sell, and buyers want to buy them - pretty simple really.

 

Where do you stand?

Posted by

Brian Hickey, founder, broker, teardowns.com

Comments (1)

Diana Mehnert
Coldwell Banker Harris McHaney & Faucette - Bella Vista, AR

Humm........ Good question.  My opinion is it would depend on the condition of the property.

Apr 04, 2011 04:22 AM