Signal Snaps Up Vintage Cottage, Quarter Acre Of Land Between Municipal Water Towers And Town Library For $115,000

“Nobody Would Buy That Property,” Councilman Dick Gee Objects, Saying Price Is Too High

Monday, July 14, 2014 - by Judy Frank
Town officials believe this property, located next to Signal Mountain Library, could help the library better meet the needs of thousands of users
Town officials believe this property, located next to Signal Mountain Library, could help the library better meet the needs of thousands of users
A World War II-era cottage sitting on a narrow sliver of land between Signal Mountain’s library and the municipal water tower moved one step closer to becoming the answer to the library’s chronic need for more space on Monday.

Town council members voted 3-1 during their regular monthly meeting to approve spending $115,000 for the house and the land on which it sits. Councilman Bill Wallace did not cast a vote.

The vote came despite the vehement objections of Councilman Dick Gee, who said he objects to the purchase for a number of reasons – especially since he does not believe the property is worth anywhere near what the town agreed to pay for it or the $120,000 for which it was appraised.

“Nobody would buy that property,” he declared. “Who would want it?

At the very least, he said, the town should hold off on the purchase until a second appraisal can be done to see how it compares to the one already completed.

Vice Mayor Susan Robertson, who said she went to the property earlier Monday to get a better idea of its condition, said she believes the town is getting a good buy.

“Have you visited the property?” she asked Councilman Gee directly.

“What’s the point?” he snapped.

The property includes a 1,000-square-foot, two-bedroom, one-bath house and some outbuildings on a long, narrow sliver of land, according to a listing on Crye-Leike Realty’s website.

Originally listed on May 5 for $139,000, a pending offer was in place as of June 5 – and fell through the following day. The house went back on the market on June 7, this time for $125,000, and was removed from active lisings on July 12, after the town’s offer was received and accepted.

“This 1940's cottage sits back from the road, giving the feeling of privacy when you look out your front door,” according to the advertising blurb posted on the Crye-Leike site.

“The house has a great sunroom/office, living room, kitchen, and two bedrooms with heart of pine wood floors. The bath has been remodeled and features a large shower. Downstairs is the laundry room, and two more rooms that, with a little work, could be living spaces, with an outside entrance.”


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