1986-12-02 Minutes - Laserfiche WebLink

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/ CENTERVILLE CITY COUNCIL Attn: Planning and Zoning Commission re: Proposal for 6 units at 7159 Mill Rd. When I decided to buy the house at 7167 Mill Rd., my major concern was about the appearance of the adjacent property at 7159 Mill Rd. I was concerned that the number of future buyers could be restricted because of that neighboring property. That concern has been heightened by the proposal to convert the duplex to six units. More specifically, 6 units could result in 0 -20 children, 10 -20 junk cars, 6 -12 snowmobiles and ORV's, as well .s increased noise and trallic from residents and miscellaneous friends. I consulted a real estate agent who was reluctant to set an amount for loss in home value from the proposed development. Although . she pointed out that there would be a loss in value, the actual amount would depend on the appearance and people at 7159 Mill Rd. This would affect the length of time to market the house and accordingly, affect the price. Six other houses ;n Centerville priced between $70,000- 80,000 sold in 1986 averaged 34 days on the market, and took an average of $1,000 off asking price -- an indication of fair asking price. (1986 was a decidedly "up" market because of a significant decrea.,e in interest rates.) In contrast, a house almost identical to mine except for location (near mobile homes and commercial property) took 99 days to sell and sold for about $5,000 less than the current appfaisal of^my house. My situation could be better or worse depending on neighboring conditions. This crude analysis is the best quantitative impact I can come up with to assess the effect of a development with unpredictable and unforseen results. Sincerely, p P John R. Probst ,' _ -- - , .c. y� -er .. �� $wr -+� . _ ..... ._ 0 ..,,..: ..,_ - e r•- ma* - - - ' — - - " mommr - �_. . - • ..,6 l . . 1 \ ' - r� .. tr ^ fir s '; Z S's J _ _ �. . liar re