Thursday, June 12, 2008

Land Price Down 30%

A few years ago, a new (and somewhat small) residential development became available in the Pewaukee area, a bit north of us.

The lots were not large, but the main drawback (to our mind) was that the development was extremely close to an active railroad right-of-way.

Lots were advertised for $90K+.

Went past the place the other night and noticed that the lots were now priced at $60K+.

S'pose something changed in the last three years?

2 comments:

David said...

The worst part is it is on the Amtrak route. Those high speed trains blast through at speeds that will rattle the dishes.

(Assuming you are talking about the one on Springdale)

Dad29 said...

Yah...but it's not just "the dishes" that rattle.

A number of years ago I lived about 1/2 mile (and 150' above) an active rail-line.

On some days, there was a faint shaking in the home's foundation from the train's weight.