[TowerTalk] CC&Rs

[Steve Katz]

I'd venture to guess that the reason the price is higher is exactly because 
there are few restrictions.  You made a big pile on your last movie, and 
the last thing you want is some CC&R restricting how you remodel.  I 
haven't seen much mention of CC&Rs in Architectural Digest.  


::Can't argue with that.  I did a pretty large study late last year,
investigating home value appreciation for resales vs. the existence (or not)
of restrictive covenants.  There isn't anyplace in the United States where
CC&R properties appreciate in value as quickly as otherwise identical
(features, square footage, neighborhood, school district, zip code)
non-restricted properties.  I'd defy anybody, realtor or otherwise, to
provide a single example as an exception to this.  There aren't any.  And
yes, I believe you're right: Not only to the rich & famous have no desire to
be told what they can or cannot do with their multimillion dollar
properties, but a lot of us common folk feel the same way; thus, as
restrictive covenants become the norm and unrestricted properties become the
market minority, the unrestricted properties will continue to escalate in
value more, and faster, as they become highly desirable and sought after.
That's bad in general, but good for those of us with unrestricted properties
who intend to sell them some day! -WB2WIK/6