Wrights Crossing would lower property values

Editor,

I am clearly in opposition to Wright’s Crossing. But I decided to imagine what our island would be like if the Nevada developer pulled off the mystical affordable housing development.

I design and build homes everyday. I price the costs of homes and all of their supplies and labor expenses. Here is what I come up with:

The Nevada developer claims to sell small basic affordable homes for $250,000 as per the articles written in the paper. The average listing on Whidbey Island for a 2,000-square-foot, three bedroom home is $375,000.00. Based upon the formulas described in articles from the Nevada developer, I believe he would sell similar-sized homes in Wright’s Crossing for $350,000.00. This is a very impressive number. It also seems like it is amazingly affordable and would draw buyers from all areas to be here.

But what does it mean for the current 2,000 -square-foot homeowners of Whidbey Island? Well, it means you just lost $25,000 per household. When you decide to sell your existing home, you will now have 200-plus comparable sized homes that just sold for $25,000-plus less than what you could have sold it for before Wright’s Crossing existed. The banks and appraisers value homes sold close in size, location and amenities.

The tens of thousands of residents that live near Oak Harbor will lose equity from their home every time a home sells in Wright’s Crossing. The more homes that are sold in this affordable housing development the more the appraiser has a comparable home to decrease the value of yours.

If you are a homeowner and you support this development, it will indirectly cost you a fee of $25,000 in the loss of value of your home.

I am a huge supporter of affordable housing. Through condominiums, townhomes and city infill, it can be done to provide affordable housing to those who need it. I am not a supporter of creating a development that takes away property value to the current homeowners of Whidbey Island to make an out of state developer wealthy.

Scott Hampton

Coupeville

More in Letters to the Editor

Concealed weapon shown at protest disconcerting

Editor, Saturday mornings, I join a group of peaceful individuals who stage… Continue reading

Spreading the word about Bagel Factory Facebook post

Editor, I was thrilled to discover via your article that New York-style… Continue reading

Why aren’t armed protestors being arrested?

Editor, I have an open question. Why is it OK for a… Continue reading

Does everyone now need to be armed?

Editor, The last two issues of the Whidbey New-Times have printed Ed… Continue reading

Article shows why there needs to be competition

Editor, Health care has been a big issue in westernized countries for… Continue reading

Environment is big factor in gun control discussion

Editor, On and on the arguments rage about the Constitution’s Second Amendment… Continue reading

Climate change not due to man, but part of God’s plan

Editor, The coordinated backlash against Commis-sioner Rick Hannold regarding “climate change” by… Continue reading

Protect your Second Amendment rights

Editor, In response to Larry Larson’s excellent letter “If one Constitutional right… Continue reading

Hannold’s ‘cherry picked’ logic raises concern

Editor, In reference to Commissioner Rick Hannold’s April 4 editorial, I was… Continue reading

Most Read