Depreciation starts when the builder leaves your driveway

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Like the Dubling Hill house discussed below, 7 Wallasy Lane, Riverside, has lost a big chunk of its value when it was new. Owners paid $2.875 for it in 2007, and though they tried for $2.950 this time, have sold it for $2.385.

Which strikes me as a decent buy for the new owner, even discounting for the traffic noise from the Post Road/Mianus bridge (which is actually worse here than that provided by the I-95 bridge up harbor). Of course, ten years from now the house will be 22-years old, not 12, and it will have lost whatever premium attaches to homes of recent build, and will instead just be part of the average inventory. But that’s down the road; the buyers can enjoy their house now, and worry about the future when it arrives.

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