03-24-2011, 11:10 AM
It is generally a little less valuable if the comparable exists, but it may not.
That's sort of a wash though, as the lower value makes it easier to acquire. Although, the properties we bought and sold were desirable enough and unique enough that there was no perceptible reduction of value.
It's really not scary, Carey. God knows I've made mistakes in real estate purchases on this island, but buying a CPR was not one of them. We had a clean title, clean boundaries, no confusion about the improvements, separate taxes, separate insurance, separate utilities other than the water. Now the water thing did mean we related to our neighbor at least every two months, but we liked our neighbor just fine.
Shared driveways MAY be a source of friction anywhere, but there are quite a lot of shared driveways and easements around whether or not it's a CPR, so it's not unique to that type of ownership.
Not everyone wants to live on a big 20 acre ag parcel and have to care for it. I'd love to CPR my property, because I don't even use half of it and it has a great building site. But ... they are not allowed any more as part of planning department concerns that ag land was getting carved up too much and becoming residential.
The main advantage to an ag-condo is that you get the second full house without having to do a farm plan. Say you don't want a commercial farm, just an acre with garden, it works out nicely.
"let the music keep our spirits high
And let the buildings keep our children dry
Let creation reveal its secrets by and by ~ Before the Deluge, Jackson Browne
That's sort of a wash though, as the lower value makes it easier to acquire. Although, the properties we bought and sold were desirable enough and unique enough that there was no perceptible reduction of value.
It's really not scary, Carey. God knows I've made mistakes in real estate purchases on this island, but buying a CPR was not one of them. We had a clean title, clean boundaries, no confusion about the improvements, separate taxes, separate insurance, separate utilities other than the water. Now the water thing did mean we related to our neighbor at least every two months, but we liked our neighbor just fine.
Shared driveways MAY be a source of friction anywhere, but there are quite a lot of shared driveways and easements around whether or not it's a CPR, so it's not unique to that type of ownership.
Not everyone wants to live on a big 20 acre ag parcel and have to care for it. I'd love to CPR my property, because I don't even use half of it and it has a great building site. But ... they are not allowed any more as part of planning department concerns that ag land was getting carved up too much and becoming residential.
The main advantage to an ag-condo is that you get the second full house without having to do a farm plan. Say you don't want a commercial farm, just an acre with garden, it works out nicely.
"let the music keep our spirits high
And let the buildings keep our children dry
Let creation reveal its secrets by and by ~ Before the Deluge, Jackson Browne