And who’s flocking to these median-priced homes in Napa? Nothing about the median home price is normal in Napa. Or local. The median single-family home is now more than $575,000. What “normal,” average, “medium” single family can afford that? If a normal, average family is 3.3 persons, and it is, then a 3 or 2 bed, 2 or 1 bath home is what they need. In this price range in Napa, those houses are getting smaller and smaller, 1000 to 1500 square feet. That is getting very close to “cottage” in size and number of rooms, in fact overlapping. Charming,
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You do. Development might be a dirty word, but it’s what pays for society. In a way, we’re all developers, anyone who improves property. Property tax is based on value property owners create. Municipalities hit developers, whether individuals or corporations, with fees and mitigation requirements, and the cost of those are passed directly to the buyer, not only in the sale price, but also over and over in annual property taxes. It’s redistribution of wealth, in another disguise. Property owners and property developers pay for the local amenities all of us use: roads, schools and colleges, hospitals, emergency services, telecom,
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