I forwarded this to an economic development guru friend, and here is his
cold assessment of your sentimental holiday pap:

"This makes sense if lasting value is a goal. However, discounted cash
flow analysis as applied to real estate assumes the asset is essentially
valueless after ten years. Therein lies the problem."

Forget castles....

A man's home is his investment account. 

_______________________________________________________
Dan Becker,  Exec. Dir.      "The thing that destroyed 
Raleigh Historic               Babylon and Nineveh was 
Districts Commission        too much Waldorf Astoria."
[log in to unmask]                    -- Elbert Hubbard,
919/516-2632                 The Philistine, Feb. 1909
 

> -----Original Message-----
> From: [log in to unmask]
> Sent: Thursday, December 06, 2007 11:22 AM
> 
>  
>  
> "Few people appreciate the responsibility they incur when 
> they undertake to build a house. ... It should be remembered 
> that when a man erects a house he owes something to the 
> street, the neighborhood, the city wherein it is located.  He 
> ought to strive for something better than a mere return for 
> his outlay.  What if he does get 1 per cent less for his 
> money, ultimately he will lose nothing; for when a 
> neighborhood is filled with fine buildings, from that very 
> fact, property thereabout increases in value.  It would be 
> well if our builders regarded their individual whims less and 
> their social obligations more."  


“E-mail correspondence to and from this address may be subject to the North Carolina  Public Records Law and may be disclosed to third parties by an authorized City or Law Enforcement official.”

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