[BigBobCA]

You could even start to see insurance companies offering development insurance. Pay a small annual fee and if your house is ever up for eminent domain seizure you will get full market value.

How does one compute the "fair market value" of a home in a condemned neighborhood?

[commonerX]

How does one compute the "fair market value" of a home in a condemned neighborhood?

Who said it would be condemned?

The fair market value would be at current market for an equal house somewhere in an equal type of neighborhood. I am sure the insurance companies can work out a method that would work.