This month's OTT award goes to No Oaks on Claremont.
Just when you think the top has been reached, along comes another contender. We at OTT have been concerned for sometime about the "gone wild" effect that the redevelopment on Claremont has stirred. In previous posts, we have highlighted the contrast that the riverhouse and showboat style homes bring to a street where new homes have already been built in an updated craftsman design. A lovely house, I am sure, but the location on a .38 acre wedge in an R-6 neighborhood seems odd, at best.
R-6 / .38 acres
Deed Date 9/26/2007 Pkg Sale Price $395,000
Heated Area 1,212
Land Value Assessed $261,000
Bldg. Value Assessed $119,111
Total Value Assessed $380,111
It is important to note that the house getting the squeeze next door is now assessed at less than the purchase price of this property. Their land is now twice that of their house. Do you think they have a chance to get fair market value for their house and land?
I believe the compensation for their eventual sale would be higher if there were bigger and better homes on either side, which would mean their house would have real value. These ultra large new houses (on their right, on their left, and in front, and behind) are grossly impacting this resident's right to enjoyment of their investment. I can only conclude that we cannot count on others to do the right thing, therefore some zoning ordinances need adjusting so that in-town neighborhoods can enjoy orderly and predictable changes that enhance their neighborhoods. From that, all people profit; from this, one person's profit is someone else's loss.