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((1 <br />BURNET <br />R E A L 1-Y <br />August 22, 1995 <br />Richard J. Novak <br />128 Twin Lake Blvd. <br />Little Canada, MN 55127 <br />RE: Property Devaluation. <br />Dear Mr. Novak; <br />Shoreview Office <br />100 Village Center Drive <br />North Oaks, MN 55127 <br />612/483-1200 <br />At your request, I did visit your residence the morning of August 21, <br />1995 to view, and offer insight concerning the future affects of an <br />out building being built across your back yard line by your <br />neighbor. <br />I estimated the anticipated position of the new building and <br />confirmed same with the aid of the plat site plan "Exhibit B ", and <br />hence I would offer the following comments: 1) that the unique site <br />plan of your rear yard is already small by standards of most other <br />residential lots in the immediate vicinity and a full wall 26' feet long <br />would further increase the impact of the small size , possibly to the <br />point of reducing the appraised value of your estate; 2) that part of <br />every assessment of property value includes the somewhat <br />intangible value known as SHARED VALUE, or that value that a <br />neighboring property either adds or subtracts to your subject <br />property, and while your neighbors home is certainly a well <br />maintained site, the addition of a detached out building so dose to <br />your property line certainly obscures your lines of site as well as <br />moves his IMPACT POINT that much doser to your home, which <br />could once again detract from your over all property valuation. <br />What the legal rights there are concerning this issue does not <br />change the fact that the location of any new building by any party <br />may well have a negative impact on your property valuation down <br />the road. <br />Please feel free to call on me if I may be of assistance in the future. <br />®Q <br />Page 12 <br />