Habitat moving in

[James L.]

Hey Guys and Gals,

I have a question.  I own a Duplex in a smaller town , and there are some wooded and vacant lots near by maybe one block over. I just discovered Habitat for humanity is starting to build on some of them. So my question is should I be worried? On one hand they are going to owner occupied, but on the other hand will it drive value down? i was thinking because they re cheap that those comps might lower things. Is there anybody with any experience with this?

[Marshall Downs]

@James L.

As another former HFH board member I agree with what Bill Gulley says. Also, our local affiliate did a subdivision while I was on the board and it turned out to be very successful and holds higher values than the rest of the neighborhood. It has to do with location of course.

Maybe you can find out what the homes are going to sell for and see how that gels with the comps. What other homes/neighborhoods have they been active in and how well maintained are those properties. Just like every fast food chain is not the same nationwide, every Habitat affiliate is not the same - some are extremely well managed and their homes/residents blend seamlessly into the community, while others may be know for bringing neighborhoods down.

Also as a duplex, your property may not even sniff a SFR comp.