Tuesday, May 13, 2008

The Appraisal Racket

Hmm. My house appraisal went down 5% this year. But that's not the case with land in downtown Dallas. The sites that Dallas wants to buy for the Convention Center hotel went up by 432%.

It's interesting what happens when you need a very specific piece of land. The case I'm most familiar with is when a cellular company needs to buy a place to erect a tower. I'm thinking the same principle applies.


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