Laserfiche WebLink
In terms of what a situation like this does to property values, I suspect, as related to Orono, <br />there’s not substantial precedent to draw on. Particularly as relates to a situation where there is <br />only one neighbor and this is the neighbor. The reason people pay a premium plus ver>' high <br />property taxes to live in Orono is so they never have to face a situation like this. <br />I’m sure in calculating the market value of my home, you were unaware of the situation and <br />therefore didn’t factor it in to your market value. The market value for the year 2000 showed a <br />significant increase in value from 1999. Obviously given the situation I face now, the market <br />value of my home has not gone up. <br />If I’m correct in understanding that market value is defined as what I could sell my home for <br />now, the $641,000 figure is completely unrealistic. People spending that tvpe of money would <br />certainly not buy a home where your only neighbor was a disorderly house. <br />As indicated earlier, the situation I face with the disorderly party house is very well known in <br />Orono and the lake. Realtors that do business on the lake are well aware of the situation and I’m <br />sure that if my house were for sale and a realtor showed it, they ’d feel obligated to disclose the <br />disorderly house situation. It also would be a serious negative to have someone showing my <br />house have to drive a prospective buyer past my only neighbor with a front yard full or cars, loud <br />music blaring and the house in a total state of disrepair. <br />There may be other instances where there is a nuisance neighbor or disorderly house in a <br />neighborhood, but in that situation any individual house that bordered the disorderly property <br />would have other contiguous properties that could mitigate the negative effect and damage. I <br />doubt, however, there are many or any precedents that deal with a situation like mine, and <br />unfortunately the damage to my property value is greatly magnified because I have only one <br />neighboring property. <br />In my mind, given the circumstances outlii\ed above, I don’t believe the market value of my <br />house is half a million dollars or more. I believe if I had to sell today my house could be sold for <br />no more than $475,000-$499,000. I, therefore, strongly feel that for my appraised market <br />value to be consistent v\ith the true market value it needs to be lowered to this range. <br />Please advise what I need to do for next steps. Thanks much for your help in this matter.