NOT BASED ON LAND VALUE Deductions on Income May Be Made Even if Ground Appreciates, Says an Attorney.
"The whole Texas market is doing well," said Dave Estey, an agent with Wimberley Land Company Realty, who added that local values for land have appreciated by more than 10percentt in the last year, while appreciation for homes has been a bit lower, about 6percentto9percentcent.
Indeed, as many seasoned investors know, waiting for land to appreciate can be, well, like watching grass grow.
Land has appreciated rapidly in the last five years, said Ginette Ouellet, a real estate broker with Les Immeubles Charlevoix in Baie-St.-Paul.
Mr. Kondylis said it was possible that when Mr. Gritsipis turned down the buyout offer years ago, he thought his land would appreciate.
What our landholders tell us is the extra income is often secondary to the pleasure of meeting people and seeing their land being appreciated and enjoyed by new eyes.
"We felt the land had appreciated in value so much that we believed by selling it we could satisfy our original goals of enhancing our education programs and their physical surroundings," he said.
They respect the land and appreciate all it has to offer.
According to legend, that same lesson was taught to the young King Arthur by his mentor, Merlyn the magician, who transformed the lad into a hawk so he could soar above the land and appreciate life from a bird's eye point of view.
"This was a prime area, and at the time I sensed that even if my plan delayed, the value of my plot would rise since prices of land only appreciate," she says.
