How do I protect my home value from new developers?

Question

I purchased my home in a subdivision for over 400k...there are now new developers coming to to build homes for 190k-260k...with some on the same street as my home. None of the home in my subdivision is under 350k and can go up to 600k. How do I protect my investment? Is there anyway to stop this from happening? Any laws? Please help

Answer 1

Home values have gone down all over the country.



There are certainly no laws requiring builders to build in the same price range as previously built houses - they must build what will sell in today's market.

Answer 2

probably not cuz its happenin all over w/the housing situation what it is today..



people are going crackers here in Mobile over the very same thing/watching the value



of their 400k pieces hit the skids cuz developer went under and another developer bought



the lots adn is doing 150-200 units on it cuz thats what sells today. any covenants in the



deed about mins. for places to be built/any bi laws for the subdivision?...probably not....but



if you have a guarantee in writing about mins. and dollars to be built there, signed by the



builder you may have a good case/problem is takes 3/4 yrs to get to the court house steps.



if he went under, probably not a leg to stand on...do the due dilligence to find out about your



subdivision, or the plat for it filed with the building dept for the town/see what the plat and any



restrictions say/take it from there. but get a move on cuz they're not stopping waiting on you



to object

Answer 3

Check zoning laws in your area.

Mobilize your neighbors. Protest.