Home value dampened // Site on creek not the selling point it was

Shirley Kohl wants to sell her Franklin Park home, but she fearsthat recent flooding will scare away buyers.

Kohl's home, which is across the street from Silver Creek,suffered $7,000 in flood damage over the last two weeks.

"We don't even want to talk to the real estate people right nowbecause we'll just get sicker at how much we've lost," Kohl said.She estimated her home's value dropped from $85,000 before theflooding to the "low 70s - if that."

Kohl is one of hundreds of area flood victims who worry that thestigma of flood damage will hurt their homes' values.

"I've got a feeling living near a creek is not going to be whatit used to be," said Lou Sotares, office manager of the Re-Max PMIreal estate office in Elmwood Park. "Psychologically, it's going toturn into financial problems."

York Township Assessor M. Ward Fleming said, "We're going tohave some loss of value in the market place."

He said he has mailed 200 questionnaires to area real estateagents seeking their confidential opinions about the impact offlooding on home values.

"I definitely believe the market values will suffer," saidDowners Grove Township Assessor Theresa A. Cockrell. "If you canavoid (buying a flood-prone house), you do."

Many real estate agents, however, said they think most homevalues won't be damaged over the long run.

"When you are right in the middle of (flooding), you will getnegative answers," one real estate executive said.

"A couple of months from now, the answers won't be as negative."All nine Du Page County township assessors will meet Monday todiscuss the impact of flooding on home values, Cockrell said.

In unincorporated Maine Township, a man who had an agreement tosell his home saw it canceled the day after the Aug. 14 storm, saidJack Hickey, coordinator of the Cook County sheriff's emergencyservice and disaster agency.

Robert Walters, a Baird & Warner senior vice president, said twocontracts his office has handled also were canceled because offlooding.

"The new buyer says, `I'm not going to buy a problem,' " Walterssaid.

Sharon Szeszycki of Addison said she hopes to sell her housewithin two years but fears that recent publicity about Salt Creekflooding will hurt its value.

Casper J. Roviso Sr. of River Grove, whose home sufferedsubstantial flood damage, said, "No one is trying to sell houses.People haven't recovered from the last flood."