Website Launched That Estimates Impact of Gulf Oil Spill on Property Values
Greenfield Advisors, a Seattle-based company that provides real estate valuation and advisory services, has launched a website -- www.gulfspillvaluations.com -- that allows property owners who have potentially been impacted by the Gulf oil spill to get information on the impact to their property values.
The company said that the new site allows users to identify their property and get a report immediately that shows any projected decrease in value. The report also provides information on the methodology used to determine the value. They suggest that property owners use the report to file with any claim documents they may plan to send to BP asking for compensation.
According to an article at REO Insider, it is estimated that 44 counties in the Gulf region, including Florida, Alabama, Louisiana, Mississippi and Texas, have been impacted by the Gulf oil spill.
Earlier this month, CoreLogic projected a potential loss of $3 billion in property values for residential real estate along the Gulf Coast.
Greenfield says that is uses tax assessor records to calculate a “pre-incident” valuation, and then determines the decrease in value using several proprietary techniques they have used in the past for events like Hurricane Katrina and the Exxon Valdez oil spill.
If your property value has decreased to a point where you are in danger of foreclosure, contact our Jacksonville Florida foreclosure defense law firm.
Greg Gilbert
Keith Maynard
