Thursday, April 10, 2008

Another expensive view?

Barry Roberts bought the Henry Hills House and all the surrounding property from the Amherst Boys and Girls Club last year for $750,000 then paid $75,000 in moving expenses to bring a house from Kendrick Park that he bought from the town for $500 and then flipped everything for $1.12 million.

Now the new owners want to sell the Henry Hills House “as is” for $850,000 (with little land). They put some work in the Kendrick Park house and want $650,000. Amherst College gave them two old houses AND will pay for the moving expenses. They will probably want $650,000 for each.

Now the town is salivating over the two remaining lots down on Main Street (to protect "the view" of the Henry Hills mansion) with a price tag of $400,000. Hmmm.

This simple $750,000 transaction from a year ago is fast becoming a $3 million windfall. In Their Own Words


O'Reilly said...

Budgeted before negotiated

LarryK4 said...

Yep! Amherst dwells in the Twilight Zone (where the taxpayers always finish last)