The Cambria Drive cave could have serious impacts on the property values of two homes sitting directly over it. Caves are nothing new for appraisers in Williamson County.
“There are tons of caves in our western half of our county and so there are caves in neighborhoods all over we have yet to see an impact on value for those caves. What they typically do is build around them when they're developing a neighborhood,” said Chief Appraiser Alvin Lankford of the Williamson Central Appraisal District.
However, the Cambria Drive cave is a little different.
“This is the first time I've ever heard of this honestly,” Lankford said.
That's because the Cambria Drive cave rests underneath an already developed neighborhood. In fact, two homes sit directly over it and that has homeowners concerned about the effect on property values.
“With a cave directly underneath the house, you can imagine that there's the potential for cave in and causing structural problems on the home, so that's what we we’re trying to analyze to see if there could be a problem on these,” said Lankford.
The Williamson Central Appraisal District has been looking into how the cave could affect the values of homes in the area.
So far, Lankford doesn't expect to see a big difference in sales in the neighborhood.
“I'm not anticipating a major impact to value on these, but this is a pretty well-known cave,” Lankford said. Lankford has suggested homeowners right above the cave put their home on piers if they can afford to. “That way, no matter what happens with the cave, the property, or the home, is on piers and there should be no impact to the structural integrity of the house,” said Lankford.
Doing so could also make buyers feel more comfortable purchasing the property.
“There is a distinct issue that is well known and they'll have to disclose to any potential buyers that there's a cave underneath the home,” Lankford said. Lankford says he has heard that there are some buyers interested in the homes above the cave already.
Property values in the neighborhood will be reassessed January first.