Change in Riverwest Property Values: 2000-2002

2000 Assessed Valuation	2001 Sale Price	2002 Assessed Valuation

35,600	80,000	48,100
61,400	73,000	74,100
91,600	120,000	128,200
22,100	30,000	36,100
57,700	79,900	78,000
35,200	76,900	47,600
41,400	93,000	82,800
41,300	85,000	55,700
52,000	55,400	62,400
32,800	55,000	44,500
66,400	110,000	89,400
55,700	60,000	75,200
87,200	86,750	113,500
68,600	70,000	82,600
70,800	73,000	83,800

The table above includes single family properties and duplexes. These are accurate, even when assessed valuation does not reach sale price.

An assessor, who has done many Riverwest properties, said he had observed that many properties are being sold for more than the asking price, some the same day they were offered. He further noted that the increased valuation provided the owner with equity on which he or she could borrow to upgrade the property. A property owner may call and obtain the comparable properties for his or her property.

The question this poses is how financial diversity can be maintained in a neighborhood in which housing prices are skyrocketing.
Riverwest Currents online edition - June, 2002