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I had a new construction once in the Boyne City area where the drive would have been too steep to get up it with anything but a mountain goat. So they solved the problem by cutting the drive at an angle to the downhill right across their lot and the mother-in-laws lot next door. The drive was now manageable.
However, the mean old appraiser made them get as deeded ROW for ingress/egress as well as a shared drive maintenance agreement with the old gal just to protect the lenders interest.
What the market impact on the one you are talking about would be, I would have no idea.
In Illinois the governor had the drive to the executive mansion heated. In the near 100 years prior it never had been a problem.
The reported cost was in excess of $1Million. With all the governors that Illinois has had, he is the only one who has never actually lived in the mansioin. He lives in Chicago and travels to the State Capital or rare occassions, and it is reported that when he is in the Capitol for a few hours, he flies back to Chicago at the end of the day. Baby sits, I think.
They tell me that this one stays dry, also.
Oh well, it provided some good employment for some good union concrete workers for a while.
Wayne,
Maybe your Governor was think about future slip and fall lawsuits caused by ice not being properly removed. Or saving the cost of state employee and equipment to remove snow and ice during the winter. :new_all_coholic:
We have many such homes in our market area. Most are in the Russian River area and were built as vacation homes. Parking is in the street and the stairs from the street level to the house are fierce. I have seen a few funiculars but mostly it has become that area's contribution to the low income housing stock and no attempts were made to build a driveway. The cheapest solution would be to have a very strong winch to pull the vehicle up the driveway and to let it down. That's WINCH not WENCH! There are usually comps with similar situations. John Hassler should have some examples in the Mill Valley area and even Sausalito.
I would love to up load a pic or two but the file sizes are too large and I don't know how to make them smaller.
Rightfully or wrongfully, I completed the assignment today as they needed it for tomorrow. I considered two things. The $30,000 loss the first owner took and the statement by the city engineer say it would cost at least $50,000 to redesign, take out the old, and put in a new. Then I also considered the loss of function of the garage if they had to park on the street.
My comps were selling from the high $300's to mid $400s and the house next door without a drive problem is on the market at $450,000.
I really believe this would be a $400,000+ property if not for the driveway and the stigma associated with it. My value estimate is less than $300,000 but more than $250,000.
Sure I am going to get interesting phone calls tomorrow.
Did I mention my monitor went out right in the middle of all this? Just bought a star logic 19" wide screen LCD. Talk about a discount. Office Max price $219 but then they had an $80 instant rebate bringing it down to $139. Should have bought two and kept one as a spare!