Saturday, November 18, 2017
Neighborhood note
Still keeping track of 4001 W. Crown, the long-vacant apt building.
The city finally forced the owner to sell, or possibly the city bought it and now is trying to sell it. In either case the owner is not trying very hard to sell it. The land itself is appraised at 48k. The house across the street, with an identical double lot, shows land value at 37k for no discernible reason.** Since the apt needs to be torn down at an estimated cost of 16k, an appropriate price would seem to be in the 30k range. Instead, the list price is 110k.
** I wonder if the county is using something like "unpleasant view" to adjust land value? The decent house across the street loses value because it has to look at the vacant property with broken and boarded windows. The vacant and boarded property has higher value because it looks at the decent house. If that's the case, crime pays. As usual.
¶ 2:03 AM 
The city finally forced the owner to sell, or possibly the city bought it and now is trying to sell it. In either case the owner is not trying very hard to sell it. The land itself is appraised at 48k. The house across the street, with an identical double lot, shows land value at 37k for no discernible reason.** Since the apt needs to be torn down at an estimated cost of 16k, an appropriate price would seem to be in the 30k range. Instead, the list price is 110k.
** I wonder if the county is using something like "unpleasant view" to adjust land value? The decent house across the street loses value because it has to look at the vacant property with broken and boarded windows. The vacant and boarded property has higher value because it looks at the decent house. If that's the case, crime pays. As usual.
¶ 2:03 AM
