The beachside home on Nantucket, once appraised at over $1.9 million, was sold for $200,000 last June before it was condemned due to worsening coastal erosion, highlighting the significant impact of environmental factors on property values.
Nantucket's Board of Health condemned the property last month, stating the access road was 'almost ready to fall off the bluff,' emphasizing the imminent risks posed by coastal erosion to nearby homes.
Don Vaccaro, who purchased the home for $200,000, reflected that despite the financial loss, the experience of using the property with family made it worthwhile, indicating the personal value of family experiences in property ownership.
Coastal erosion in the Sheep Pond Road area has led to multiple property condemnations, with homes losing substantial land. In 2023, another property was condemned as waves washed away the land beneath it.
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