Quantcast

Letters: Caz realtor says $110,000 too much for village property purchase

To the editor:

On Wednesday Dec. 8th, as a public service to the Cazenovia Fire Department, I viewed the property located at 6 Farnham St. and adjacent to the fire department that the fire department in conjunction with the village of Cazenovia is considering to purchase. I was asked as a real estate professional with 16 years experience specializing in the Cazenovia area to offer my opinion of its market value.

The two-family property on .11 acres is in complete disrepair and could be considered a tear down. Madison County tax records show its current total assessment to be $60,000, 80 percent of market value, which would place it at about $65,000. Based on the current real estate market, the condition of this home and its location, the market value I suggested to the fire department representative, was a generous $75,000. Much to my dismay, on the front page of the Dec. 15 Cazenovia Republican, it states that the village is considering a purchase price of $110,000. I invite the village to hire an independent apprasier to prepare a formal, professional market analysis before considering this potential offer as I consider it a misuse of taxpayer's dollars at $110,000. My sense is that further due diligence is in order before proceeding to purchase.

If the current owner/seller is unwilling to accept less than $110,000, I suggest that the owner place 6 Farnham St. on the open market through the multiple listing system with full disclosure regarding its liabilities to see what the market will bear and in the spirit of good citizenship, that the fire department/village be given right of first refusal to purchase. Because of its location, this property is of value to the fire department and thus in conjunction with the village is a logical candidate to own if determined to be a wise purchase.

Also, the address in the Republican was 3 Farnham, with the correct address being 6 Farnham St. The village taxes of $800 was also inaccurate.

The Cazenovia Village Board of Trustees will hold a public hearing public hearing at 6:45 p.m. on Jan. 3 to discuss the possibility of the buying this house next to the fire department. If you are interested in how your tax dollars are being spent, please attend.

Cindy Clark, Realtor, RE/MAX Masters Real Estate

0
Vote on this Story by clicking on the Icon

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment