November 1997 - Laserfiche WebLink

Home Browse Search

11-17-97 • David P. & Brenda L. Bickel 1704 E. Wayne St. South Bend, IN 46615 219 233-1956 9 Our house was built in 1953 on the vacated part of Ester Street. Houses on the land would produce more tax revenue than a street. We have 1951 sq. ft., 3 bedroom, 1 '/z baths, with and unfinished basement that floods in heavy rain. Our house along with 30 other houses (14%)on East Wayne Street were built between 1952-1960 and are non -historic. In the following examples we would like to demonstrate why we feel we must be granted some latitude when it comes to up grading our property. Appreciation Value Home prices for and average, median, 2200 sq. ft. house as reported by the Indiana Association of Realtors, Indiana University Center for Real Estate Studies, Chamber of Commerce of St. Joseph County, and The Coldwell Bankers Home Price Comparison Index are as follows: Year Indiana South Bend/Mishawaka Our House 1987 $45,400 $89,900 1988 ------- $49,100 1989 ---- $52,200 1990 $52,500 1991 1992 ------ $98,500 1993 ---- $63,600 1994 $75,000 $64,700 1995 $79,500 $69,300 1996 -- $74,500f 1997 -- ;$108,000/ In the South Bend/Mishawaka area the average, median, home has increased by 5-7% per vear over the last 10 years while our house has increased less than 1.85% uer year. Attached: Articles from the South Bend Tribune dated 11/8/90, 03/14/91, 06/20/95, and 02/17/96. Our estimates are from the purchase of our home, the refinancing of the mortgage, and the equity loan Current Estimates for Siding Vinyl Siding, insulation board, and wrap will go over our existing siding, make the house more energy efficient. Before installing Cedar Siding and insulation board we will have to tear off the existing old siding and trim. 1704 E. Wavne St. Vinvl Siding Cedar Siding Proposal A $10,282 Proposal B $16,367.80 Proposal C $ 9,648 *Paint/Stain 2 coats first yr (1997 Prices) Labor 1997 prices $300.00 $2.125.00 $18,792.80 0 *Painting the cedar requires seasoning time of 1 to 1 '/2 years, depending on the weather. Staining the cedar will have to be completed in constant weather of over 50 degrees.