Properties in Despair – Dragging Down Property Values

[Huckleberry]

I thought it might be intriguing to start posting homes around our personal residences that are dragging down nearby property values, because the owners (be it banks, or individual) are not up-keeping the property.

Here is one a few houses from my residence that is an absolute eye-sore, just five blocks from the beach. I actually saw a homeless guy leaving the property (through the alley) one morning.

The listing photos are old, as there is now no RV in the backyard and the grass in the front yard are now weeds which are almost two feet tall. It also appears (from the photos) that they are working on the interior, but nobody has been there in over a year.

http://www.sdlookup.com/Pictures-100016057

[meadandale]

Wow, torn down to the studs…and they want a half mil. Calling it a fixer upper is being generous. That thing needs six figures of work inside to make it habitable. That doesn’t even include the shape of the yard that will have to be addressed.

For the life of me I can’t see how a place under 1000 sq feet is worth 3/4 of a million even if it’s four blocks from the beach.

[meadandale]

Wow, torn down to the studs…and they want a half mil. Calling it a fixer upper is being generous. That thing needs six figures of work inside to make it habitable. That doesn’t even include the shape of the yard that will have to be addressed.

For the life of me I can’t see how a place under 1000 sq feet is worth 3/4 of a million even if it’s four blocks from the beach.

[meadandale]

Wow, torn down to the studs…and they want a half mil. Calling it a fixer upper is being generous. That thing needs six figures of work inside to make it habitable. That doesn’t even include the shape of the yard that will have to be addressed.

For the life of me I can’t see how a place under 1000 sq feet is worth 3/4 of a million even if it’s four blocks from the beach.

[meadandale]

Wow, torn down to the studs…and they want a half mil. Calling it a fixer upper is being generous. That thing needs six figures of work inside to make it habitable. That doesn’t even include the shape of the yard that will have to be addressed.

For the life of me I can’t see how a place under 1000 sq feet is worth 3/4 of a million even if it’s four blocks from the beach.

[meadandale]

Wow, torn down to the studs…and they want a half mil. Calling it a fixer upper is being generous. That thing needs six figures of work inside to make it habitable. That doesn’t even include the shape of the yard that will have to be addressed.

For the life of me I can’t see how a place under 1000 sq feet is worth 3/4 of a million even if it’s four blocks from the beach.

[LAAFTERHOURS]

There is a house on my street that is contingent with a brown lawn. I have green “lawnpaint” and im tempted to walk over early sat morning and spray it down.. Not because im worried about valuation but moreso bc it looks ugly. Maybe I could call the HOA, offer to do it and have them pay my august bill 🙂

[LAAFTERHOURS]

There is a house on my street that is contingent with a brown lawn. I have green “lawnpaint” and im tempted to walk over early sat morning and spray it down.. Not because im worried about valuation but moreso bc it looks ugly. Maybe I could call the HOA, offer to do it and have them pay my august bill 🙂

[LAAFTERHOURS]

There is a house on my street that is contingent with a brown lawn. I have green “lawnpaint” and im tempted to walk over early sat morning and spray it down.. Not because im worried about valuation but moreso bc it looks ugly. Maybe I could call the HOA, offer to do it and have them pay my august bill 🙂

[LAAFTERHOURS]

There is a house on my street that is contingent with a brown lawn. I have green “lawnpaint” and im tempted to walk over early sat morning and spray it down.. Not because im worried about valuation but moreso bc it looks ugly. Maybe I could call the HOA, offer to do it and have them pay my august bill 🙂

[LAAFTERHOURS]

There is a house on my street that is contingent with a brown lawn. I have green “lawnpaint” and im tempted to walk over early sat morning and spray it down.. Not because im worried about valuation but moreso bc it looks ugly. Maybe I could call the HOA, offer to do it and have them pay my august bill 🙂

[bearishgurl]

Yeah, Huckleberry, I’ve got similar houses around me, not even for sale. A couple of “room additions” started 7-10 years ago and never finished with paper/plywood exposed and air around the window frames. Half-finished concrete projects with rebar sticking out. Backyards (and sometimes front yards) full of debris for years. 80 year old trees unwieldy and in need of a $2-$3K trim/topping.

Guess what? I’ve decided I don’t care for the time being as I can’t sell for four more years. Some of these 60-70 year-old (some <1000 sf) "fixers" around me are actually selling right now (they're on good-sized lots) and dragging down property values. Due to that, our lofty county assessor just sent me ANOTHER letter stating they were voluntarily reassessing my property $26K LOWER for FY 10/11. Couldn’t have done a better job myself for NO WORK!!

This is after I already appealed in FY 08/09 and stipulated with them for the 09/10 assessment to be lowered $103K. This took 16 months and a multitude of letters, phone calls and paperwork.

My advice to you, Huckleberry? Check the comps to see if you can successfully appeal your tax assessment if it is too high. There’s a silver lining in every cloud :=)

[bearishgurl]

Yeah, Huckleberry, I’ve got similar houses around me, not even for sale. A couple of “room additions” started 7-10 years ago and never finished with paper/plywood exposed and air around the window frames. Half-finished concrete projects with rebar sticking out. Backyards (and sometimes front yards) full of debris for years. 80 year old trees unwieldy and in need of a $2-$3K trim/topping.

Guess what? I’ve decided I don’t care for the time being as I can’t sell for four more years. Some of these 60-70 year-old (some <1000 sf) "fixers" around me are actually selling right now (they're on good-sized lots) and dragging down property values. Due to that, our lofty county assessor just sent me ANOTHER letter stating they were voluntarily reassessing my property $26K LOWER for FY 10/11. Couldn’t have done a better job myself for NO WORK!!

This is after I already appealed in FY 08/09 and stipulated with them for the 09/10 assessment to be lowered $103K. This took 16 months and a multitude of letters, phone calls and paperwork.

My advice to you, Huckleberry? Check the comps to see if you can successfully appeal your tax assessment if it is too high. There’s a silver lining in every cloud :=)

[bearishgurl]

Yeah, Huckleberry, I’ve got similar houses around me, not even for sale. A couple of “room additions” started 7-10 years ago and never finished with paper/plywood exposed and air around the window frames. Half-finished concrete projects with rebar sticking out. Backyards (and sometimes front yards) full of debris for years. 80 year old trees unwieldy and in need of a $2-$3K trim/topping.

Guess what? I’ve decided I don’t care for the time being as I can’t sell for four more years. Some of these 60-70 year-old (some <1000 sf) "fixers" around me are actually selling right now (they're on good-sized lots) and dragging down property values. Due to that, our lofty county assessor just sent me ANOTHER letter stating they were voluntarily reassessing my property $26K LOWER for FY 10/11. Couldn’t have done a better job myself for NO WORK!!

This is after I already appealed in FY 08/09 and stipulated with them for the 09/10 assessment to be lowered $103K. This took 16 months and a multitude of letters, phone calls and paperwork.

My advice to you, Huckleberry? Check the comps to see if you can successfully appeal your tax assessment if it is too high. There’s a silver lining in every cloud :=)

[bearishgurl]

Yeah, Huckleberry, I’ve got similar houses around me, not even for sale. A couple of “room additions” started 7-10 years ago and never finished with paper/plywood exposed and air around the window frames. Half-finished concrete projects with rebar sticking out. Backyards (and sometimes front yards) full of debris for years. 80 year old trees unwieldy and in need of a $2-$3K trim/topping.

Guess what? I’ve decided I don’t care for the time being as I can’t sell for four more years. Some of these 60-70 year-old (some <1000 sf) "fixers" around me are actually selling right now (they're on good-sized lots) and dragging down property values. Due to that, our lofty county assessor just sent me ANOTHER letter stating they were voluntarily reassessing my property $26K LOWER for FY 10/11. Couldn’t have done a better job myself for NO WORK!!

This is after I already appealed in FY 08/09 and stipulated with them for the 09/10 assessment to be lowered $103K. This took 16 months and a multitude of letters, phone calls and paperwork.

My advice to you, Huckleberry? Check the comps to see if you can successfully appeal your tax assessment if it is too high. There’s a silver lining in every cloud :=)

[Author]

Posts