Posted Aug 25, 2012, 7:40 PM
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Registered User
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Join Date: May 2006
Location: North edge of Downtown
Posts: 3,266
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Quote:
Originally Posted by SecretAgentMan
With all due respect, MB, I think your property value concerns are a little over blown. Property values are based primarily on comps, not adjacent properties. I am surrounded by low-rent student housing on all sides, but it hasn't affected my appraisals at all. If your immediate surroundings don't look very good, it might affect time of sale in a slow market, but will have little to no affect on a desirable location in a hot market. Well maintained, new student housing, should not have any impact at all.
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I Disagree. Conversations I have had with relators, etc seem to support our concerns. Especially the propertys that directly faced the develplment. They constiute the comps. WHen those units prices go down in our own building... now my comps have gone down.
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