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Buyers and appraiser say October 2024 sale and property condition warrant lower valuation
Summary
Applicants who bought 51 Great Hill Road in October 2024 for $1,023,000 said the house is not suitable for year-round use; their appraiser called the lot a "redevelopment tier" site and recommended a value near $1.1 million.
Applicant counsel Langdon G. Thaxter told the Board that the buyers paid $1,023,000 for 51 Great Hill Road on or about Oct. 15, 2024 and described the transaction as "an arms-length transaction." Buyer Kathleen Fitzpatrick said the existing house was "uninhabitable" for year-round use and said contractors advised that lifting and rehabilitating the structure would pose serious problems.
Appraiser Louise Tower testified the property has a narrow building envelope, limited first-floor ocean view due to a berm, and greater "utility risk" than nearby luxury dwellings; she stated the lot is more comparable to vacant-land or tear-down properties and suggested market value closer to $1.1 million. The applicants said they initially planned to renovate but that Planning Board and Code Enforcement responses constrained rebuilding options.
