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The CMS school board voted tonight not to rescind the previous vote which allows ONLY 'Myers Park home school' students to attend the IB program at Myers Park. Apparently many of the Myers Park IB students that are currently outside of the 'home school' zone have indicated they will move to the Myers Park zone or go to private school instead of going to East Meck or Harding High. My guess is that property values in the Myers Park home school zone will start to climb!!! This must be the school boards way of getting us out of this recession/depression!
Well . . . I doubt that property "value" in Myers Park has ever tanked. Value is determined by what one is willing to pay for any particular piece of property. If it is priced out of folks' reach to start with, that is going to exclude the majority of people b/c they cannot afford the mortgage on the property.
In other words, if my price range is topped at $400 K, then it really doesn't have any meaning to me if the average price on homes in any given area has risen, when the buy-in is already over $400K. It won't matter to me if it has risen from 10% from $600K to $660K.
The only people who "profit" from rising home values are 1. the city/county, if tax valuation rises (more revenue) and 2. a homeowner who sells a house, as their equity will have increased.
Ani - I am speaking about individual properties in the Myers Park 'home school zone' - not just homes in the Myers Park neighborhood. The Myers Park home school zone goes all the way south to Highway 51. I do think this vote by the school board will be a plus for homes in the 'MP home zone'.
BTW - values in Myers Park (the neighborhood) along with most neighborhoods in Charlotte have declined in the last few years.
Ani - I am speaking about individual properties in the Myers Park 'home school zone' - not just homes in the Myers Park neighborhood. The Myers Park home school zone goes all the way south to Highway 51. I do think this vote by the school board will be a plus for homes in the 'MP home zone'.
BTW - values in Myers Park (the neighborhood) along with most neighborhoods in Charlotte have declined in the last few years.
Maybe I didn't word that right. I do know what you mean, Charlotteborn, and you are right about declining sales prices in all areas of the county.
If the Tax Valuations are higher in South Charlotte, that does guarantee one thing - more tax revenue squeezed out of those homeowners, which was really my point.
can someone who understands this issue take some time to explain? I keep hearing half-stories and I'm not sure I have an accurate picture of what's going on...
I've said many times that anyone that buys property in hopes of said property being in a high profile school zone is making a bad assumption. As the school board demonstrated last night, they will arbitrary assignment decisions based on criteria that many times is not obvious and certainly not located to location.
Native_Son - Myers Park High School has an IB program that is very well thought of (many awards, etc.). A good number of the IB students at MP do not live in the 'MP home zone' but are allowed to go to MP as they are in the IB program. The school board decided that only students who live in the 'MP zone' will be allowed to continue going to MP. The school board hopes that many of these (out of the zone) students will now go to East Meck (which is going to lose students to the new Mint Hill school) or Harding in order to continue in the IB program. However, according to parents that were polled, very few are going to send their kids to East Meck or Harding. My thought is that this will help the property values in the MP home school zone; especially those in the mid to lower price ranges.
Lumbollo - I know what you are saying. I was born in Charlotte and unfortunately lived through Swann vs. BOE. I do believe however, that school zones have an impact on property values.
Native_Son - Myers Park High School has an IB program that is very well thought of (many awards, etc.). A good number of the IB students at MP do not live in the 'MP home zone' but are allowed to go to MP as they are in the IB program. The school board decided that only students who live in the 'MP zone' will be allowed to continue going to MP. The school board hopes that many of these (out of the zone) students will now go to East Meck (which is going to lose students to the new Mint Hill school) or Harding in order to continue in the IB program. However, according to parents that were polled, very few are going to send their kids to East Meck or Harding. My thought is that this will help the property values in the MP home school zone; especially those in the mid to lower price ranges.
Thank you kindly for the explanation.
And for any families with displaced kids: I have two houses in the MP "home zone" that are in the "very affordable" category. They are currently occupied by renters, but are ALWAYS for sale.
And for any families with displaced kids: I have two houses in the MP "home zone" that are in the "very affordable" category. They are currently occupied by renters, but are ALWAYS for sale.
I guess you won't have to keep buying those "Powerball" tickets anymore!
I guess you won't have to keep buying those "Powerball" tickets anymore!
is that an offer! hot dog!
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