CONSIDERABLE
PROPERTY LOSS 2% - 5%
Local Road-Your
property is greatly affected by its connection to Grassy Hill
Rd. Traffic even at today's level makes it difficult to exit out
of your neighborhood. Multiply that traffic by five or six, and
at times it might be nearly impossible. Few families want to
risk life or limb every time they leave their neighborhood,
which reflects poorly on the value of your home. Of course the
increased noise level and pollution is also a negative. Derby
Milford Rd will become less and less of a viable alternative as
travelers seek their way to the retail areas. Cut-through
traffic will increase as frustrated drivers seek alternate
routes through your neighborhood. Remember your property value
is appraised by prices of other houses in your area. Appraisers
look for three to four comparable homes that sold in recent
months. It is not likely that on a street your size, within that
time period, three to four comparable homes can be found.
Appraisers, much to the frustration of the property owner, look
to different streets, busy streets, lower property value
streets. In turn you receive a lower appraisal. This affects
your ability to fairly price your home, ask for a second
mortgage or receive an equity loan. Even a 3% loss of a
$350,000 house is $10,500. 5% loss is $17,000. Is it worth it?
Did you here about the over 100 Acres of
retail proposed in addition to Stew Leonard's.
Loss From
Retail Sprawl
-
Decreased Safety-
Living near a busy street reflects on your property. Your home
becomes less attractive and therefore less valuable when the
simple enjoyment of walking or riding a bike is a dangerous
proposition. Having to risk an accident every time you enter
or leave your street to connect to Grassy Hill Road or one of
the many other congested streets in Orange is probably the
biggest negative.
-
Increased
Pollution - Exhaust fumes from thousands of additional cars
not to mention all the garbage thrown out, greatly reduces the
appeal of your town in general and therefore price of your
home. Noise from a congested streets unfortunately carries
through nearby neighborhoods.
-
Taxes- With all of
the major devaluations in the town in general the tax base
will suffer causing the mill rates to rise. Plus the drain and
added costs of police and road "improvements" also boosts
taxes. This by far exceeds any benefit from Stew Leonard's.
-
Driving Delays- No
one likes to sit in traffic or drive bumper to bumper.
Cut-through traffic will increase as frustrated drivers seek
alternate routes through your neighborhood. Waiting at traffic
signals is bad enough already. What's going to happen when
traffic doubles.
Facts and figures for this
entire site were compiled and extrapolated from various sources
including The Orange Plan Of Conservation and Development, DLS
Traffic Study sponsored by the Town, various traffic calming
studies, engineering experts, websites and newspaper articles.
All facts and figures are thought to be accurate, however no
representation herein is made of their accuracy.
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