SHUTESBURY — The Selectboard is accepting a late Shutesbury resident’s bequest of his home, with hopes that its future sale could provide a revenue boost for the town.
The board voted 3-0 last week to proceed with gaining ownership of the 1,400-square-foot dwelling at 41 Cooleyville Road, located on a half-acre property just east of the town center and on the main thoroughfare between Route 202 and Amherst.
The home was left to the town by David Rogers Ulen, who had lived there since 1986. Ulen was 68 when he died in April.
“Generally speaking, how can we lose by taking it?” said board member Eric Stocker, who suggested that the town would make some money, possibly in excess of $100,000, once the property is sold.
Selectboard Chair Melissa Makepeace-O’Neil said proceeds from the sale could be used as cash flow for other capital projects, such as improvements that likely will be needed at the former M.N. Spear Memorial Library for its conversion to other municipal uses.
“Overall, I think it would fit that we take it on,” said board member Jim Walton.
Ulen’s will leaving the 1900-era home to the town was drawn up by Northampton attorney Michael Hooker, who specializes in elder law.
Hooker said he assisted Ulen while he was at Hospice of the Fisher Home in Amherst. He recommended the town take Ulen’s gift.
“The town would be really foolish not to accept this property,” Hooker said. “It’s a no-brainer. David wanted the town to get the benefit of it.”
Hooker told the Selectboard that if it rejected the gift, he would list the property himself, make it marketable, and Ulen’s stepchildren would instead get the money from the sale.
He added that he needed the town to “fish or cut bait” in accepting the property, and then could deed it over. He also asked for a rebate for the $1,200 in real estate taxes that have been paid since Ulen’s death.
Before the meeting, Town Administrator Hayley Bolton sought a comparative market analysis from Heather Ferrari, a real estate agent and sales associate with William Raveis in Amherst. Ferrari found the property to be overgrown, meaning it was challenging to fully evaluate the home.
“It is in a lot of disrepair inside and outside, and hard to see,” Ferrari said.
But she said the bones of the house are good and she doesn’t expect it to need to be torn down.
And while repairs could be made, Ferrari said it is probably best for the town to sell the property as is, though Shutesbury could benefit from reducing the vegetation and possibly cleaning out the interior.
Ferrari said most likely the home, which would probably sell for less than $200,000, would be sold to a buyer with cash in hand, rather than a family looking for a home.
“I think it would be a great property for an investor to take on, to fix up,” Ferrari said.
Ferrari also noted the area market has slowed down for the past six months, with the inventory for Amherst tripling, from usually 15 properties available to more than 40. It is still a seller’s market, even if it is taking more time to sell homes, she said.
Complications for the property are its substandard frontage and being located on a non-conforming lot.
Bolton said the town could face costs of winterizing, paying insurance on a vacant property and dumpster rental, but otherwise there is “minimal risk” with what she described as a nice opportunity.
The potential is for the town to net between $100,000 and $150,000, though this could be reduced by $30,000 to $35,000 if the home needs a new septic system. If the septic system doesn’t pass the mandated Title 5 inspection, the town could pass that cost on to the buyer.
