I am a real estate broker and I currently live in the 680 Lake Shore building. I know I am losing some of my view because of the buildings going up. It is also going to make the area a bit more busy and crowded.
Overall I do not think it will have much of an effect on prices.
Let me know if you have any specific questions that I may be able to answer.
Every building is different, the way to figure it out from an appraiser stand point is this:
Find an IDENTICAL unit on a different floor and calculate the difference in price between the two.
There are many factors that would affect this though: The unit needs to have sold at the same time, similar condition, view, etc...., if it hasn't you would need to calculate how much it has increased or decreased since that time of sale.
It is very difficult to usually find an identical sale that sold similar to the one you are looking at, if you need help with this. Send me info on the building and I would gladly look into it for you.
This is not something that has a set dollar amount on, if anyone tells you that.... they are wrong.... more
I agree with Jacqueline.You have been wasting time for weeks/months debating this on Trulia, asking the same basic question. This is NOT the place to get the specific answers you need about a Habitat home that potentially you do not have the right to sell on the open market. CONSULT HABITAT NOW and quit messing around on Trulia. Habitat will probably buy you out without difficulty. But I note from your questions that you're also in Lynchburg VA. If so, then don't consult Chicago agents anymore.... more
You have to find a buyer to pay that price. If market value is below what you owe on your mortgage, you can still sell. You would have to do a short sale. Our short sale services are FREE for homeowners. We have been successful in getting homeowners off the hook for the deficiency, as well as, getting homeowners up to $23,000 in relocation assistance. Your credit will be affected, but not as much as it would with a bankruptcy or foreclosure. Feel free to call with any questions.
Eli Givoni, Director
Short Sale Department, LLC
MARS Disclosure for General Commercial Communications
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.... more