Friday, August 31, 2007
School District Scammers - Piedmont, CA
Originally, this Piedmont house was nominated by Ann from California as one of our million dollar slums. However, I hesitate to describe it as a slum. It looks a little too pretty, especially compared to some recent crackers posted on this site. Nevertheless, Anne assures me that it looks a lot worse close up. Moreover, it is only 1,400 square foot.
Ann made a very valid point. The only reason that this house was listed at $1,125,000 and not at $125,000 was because of the local school district. But why condemn you kids to living in a poke? Why not save half the money, buy a nicer house for $600,000 and send your kids to private school. What does private school cost? In DC, its about $20,000 per child a year. If you don't have $20,000 to send you kids to private school, then you don't have the cash to buy this house. The school district math underlying the valuation of this house just doesn't add up.
Lets face it - this school distict issue is yet another realtor scam to push up prices. Therefore, this property goes into the school district scammer category.
Posted by Best at 8:57 AM