Americans Recover $7 Trillion In Home Wealth as Prices Firm
In March 2014, Steven and Bernadette Doherty paid $183,000 for a two-bedroom home in Charlotte, N.C., $6,000 more than its appraised value. Today, similar houses in the neighborhood are being priced at $300,000 or more. “We bought at the right time,” said Bernadette, a retired Wells Fargo & Co. information technology worker. “In retrospect, we were lucky as prices have gone up so much more.” Home-price appreciation is a welcome...
Falling property value of Steeplegate Mall affects everyone in Concord
In February of last year, Steeplegate Mall was Concord’s second-largest taxpayer at an assessed value of $52 million. Now, the city’s assessing database values the Loudon Road mall at just $30 million. The property has slipped to the fifth spot on the list of Concord’s largest taxpayers. In the meantime, vacancies have continued to mount, the mall’s owner defaulted on the mortgage and one possible sale has fallen through. While some...
