On the North Shore, acreage reigns as the real-estate market-maker

At the height of the real estate boom in 2006, the homes that sold for the highest prices had the most land — and post-recession, they also rebounded the fastest. “Land is a critical component of establishing the high end of the market,” says realtor Deborah Fischer (Berkshire Hathaway HomeServices KoenigRubloff Realty Group, call 847-309-9119). “Everything trickles down from there.”

Of course, acreage is all relative. Downtown, where it’s all about cramming as much as possible into the least amount of space, an acre would be considered a massive, almost unheard of, plot of land. In the North Shore, though, it’s a more common property size — but either way, buyers will pay premium prices for the one aspect of real estate that can’t be manufactured.

[Read the entire article at SplashHome]

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