Is it just me, or is the local real-estate market going slightly crazy? Zillow — yeah, yeah, I know, Zillow — informs me that a house just off the edge of my neighborhood is now renting for $1200 a month.
The inevitable Zestimate on the palatial estate at Surlywood is, of course, risible. At $124,467, it’s down about a thousand from a month ago. And if this place could actually be worth that much, I would have equity actually exceeding the amount left on the house note. Then again, my august insurance vendor, Lloyd’s of Lawton, underwrites it to the tune of $139,000. And the taxman hath declared that property on this here block, without any tedious structures sitting on it, would be worth upwards of $100,000 per acre. I have just over a quarter-acre, so I’m not dazzled by this figure, but hey, I’m not the guy running the real-estate Web site.