In 2005 I purchased a great investment property, I thought. I used money from another home I sold, around $8k and did fix-ups on the new place for another $10k. Fast forward to 2011 when property values are at their lowest and now ACHD (Ada County Highway Department) wants to buy a portion of my ground.
When I purchased my home I bought it for $126k, ACHD just appraised is at $50k. Then they low balled me on the price of the ground at only $13k. They are buying 1/3 of the total lot and putting in a 5 lane road and by doing so they are changing the best use of the property from residential to commercial. They are also taking away all front parking and access to my front door as well, so the entry to my home will now be from the back which creates functional obsolescence. Basically, my laundy room is now the entry to the home. (This looks very bad)
As a poor working class American family we don't have the ability or financial firepower to fight for our ground. We are losing our home, our initial investment of $8k, fix-ups of $10k and literally being forced to move with $0.00 compensation. Our 1st lien holder is getting the $13k, big deal. We are out all the money and have all the hassle. Thanks a lot ACHD.
Fight for your rights and the rights of others because one day you might need those precedents set.
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