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xchadrickx t1_ir3a32i wrote

Reply to comment by FriendshipIntrepid91 in It’s gone. Most well-known home in University Heights demolished Tuesday morning by ChillyGraham

An item is only worth what someone is willing to pay. I see no fault of the seller who received the price the open market would bring.

If other comments are to be believed, the home could have been converted into a B&B for people with loved ones in the hospital. The neighborhood opposed this, the house was sold at market rate, this is the outcome.

In some cases a home is worth nothing and the property it sits on is worth much more. That's unfortunately just the world we live in, not a world created by the seller. If you were going to sell a piece of real estate would you take a considerable amount less money because you were concerned it may become a vape shop and iPhone screen repair suite? Of course not, because then it personally affects you. Considering the reality of the situation it's not hard to understand.

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FriendshipIntrepid91 t1_ir3bpaz wrote

But the house wasn't sold at market rate. That's why it no longer exists. The developer is hoping to recoup his money by rezoning the lot.

I personally would not take less, but I'm also not one of the people complaining about rezoning.

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xchadrickx t1_ir3ddwj wrote

The rate is what someone on the open market is willing to pay, I explained this as simply as possible. If you aren't willing to take a lower amount out of some false sense of altruism, why do you not feel silly insisting that someone else should? Why would you hold someone to a standard that they must make a sacrifice that does not benefit them, when you just stated you would not do the same?

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FriendshipIntrepid91 t1_ir4tvwi wrote

What one niche developer is willing to pay for a parcel of land is not market rate for a home. If that house was listed anywhere near market rate, it would have sold 10x over in this market. The homeowner knew about the possibility for development at that intersection so they held out for a non homebuyer.

I'm not blaming the actual homeowner. I'm asking why all the people in that neighborhood that seem to care so much only blame the developer, I explained this as simply as possible.

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xchadrickx t1_ir4u0na wrote

Did the property sell? That's what the market was willing to pay.

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FriendshipIntrepid91 t1_ir5l6s2 wrote

Not sure if you are a simpleton or if you truly do not have the ability to differentiate between residential property and commercial property. Commercial property is worth significantly more. The house was not priced to sell in the "housing market". And now the city will give in to the developer and rezone it commercial. Because as you so clearly know, money is all that matters in this world.

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xchadrickx t1_ir5owzw wrote

And what is this property going to be used for?

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