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• <br />MINUTES OF THE BOARD OF REVIEW MEETING <br />HELD APRIL 29, 1993 <br />Jabbour cautioned Schoen not to admit the buiidability of a <br />property without proper documentation. <br />Bob Anderson, 3843 Cherry Avenue, #08- 117 -23 33 0040, 1993 value <br />$62,200, 1992 value $57,200, 1991 value $55,600. He said he has <br />just acquired the home, but his parents owned it for 40 years, of <br />which the last 15 years it was not properly maintained. He noted <br />it has water problems, no running water, and is located next to a <br />wetland. He indicated the wetlands has been used for dumping in the <br />past by ad j acent ne i ghbors, and on very warm days one can sme I I the <br />oil that has been deposited. He felt it was worth $58,000. <br />John Maresh, 2085 County Road 6, #27- 118 -23 31 0019, 1993 value <br />$314,900, 1992 value $290,500. He indicated he purchased the <br />property in 1989 for $285,000, and the market value at that time <br />was $303,000. It was later reduced to reflect the purchase price. <br />He said the house was originally designed for commercial use,.is <br />located on a Highway 12 corridor, and is 20 years old and needs <br />upgrade. A recent appraisal done for financial reasons indicated <br />a value of $300,000. He added homes in Orono are not continually <br />• inflating as the Assessor suggests. He said the property was an old <br />tree farm and he has sustained approximately $10,000 to $15,000 <br />worth of tree damage during the past year. He felt his property is <br />worth $295,000. <br />George Capp, 2080 Shoreline Drive, #15- 117 -23 21 0006, 1993 value <br />$442,000. He said he purchased the property in October 1992 for <br />$415,000. <br />Erickson noted the property was sold via a sheriff's sale. <br />Capp indicated the property was on the market for 2 years prior to <br />that sale. <br />Hurr questioned the amount of lakeshore. <br />Capp clarified he has access to the lake via an easement. <br />Jabbour inquired whether a sheriff's sale is considered the same <br />as a distressed sale. <br />Erickson concurred that it is and noted these types of sales are <br />not used determine market value. <br />Capp said he purchased the home from the bank who bought the <br />is property for $406,000. <br />0 <br />