A Bad Neighbor Can Bring Down The Value Of A Home

A bad neighbor can bring down the value of a home, possibly by even up to 10 percent, according to the Appraisal Institute.

What qualifies as a bad neighbor — or “external obsolescence” in appraisal speak? Home owners with “annoying pets, unkempt yards, unpleasant odors, loud music, dangerous trees and limbs, or poorly maintained exteriors,” according to the Appraisal Institute. The organization recommends home owners take action. For example, banding together with other neighbors to approach the “bad neighbor” together and check if the home is violating any municipality codes or subdivision restrictions that you can report. In some cases it may be worth hiring an attorney. 

  

   
Sheila Newton, CDPE   
Sheila Newton Team 
Berkshire Hathaway HomeServices -
C. Dan Joyner, Realtors
864-225-1205 (direct)
864-940-6377 (mobile)

www.SheilaNewtonTeam.com    


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Comments

and some folks do not like hoa's.. sometimes they have their benefits and it is tough to sell "that house" down the street

Posted by Mark Loewenberg, PA 561-214-0370 (Keller Williams of the Palm Beaches) over 1 year ago

I have called zoning enforcement and would not hesitate to do again

Posted by Jerrill and Nancy Ewing, Builder - Associate Broker (N & J Lake Properties, LLC) over 1 year ago

As with so many other things folks have no respect for the folks around them.

Posted by Michelle Cooks, Pensacola, Pace & Gulf Breeze Property Management (Charles Stallions Real Estate Services) over 1 year ago

This is such a great post! This is a very real problem in some neighborhoods. Calling the local city code enforcement will help. However, if code enforcement can not do anything until the grass is 12 inches high that still makes the neighborhood look bad.

Posted by Sussie Sutton, UTR TEXAS Realtors - Rep for buyers and sellers. (UTR Texas Realtors) over 1 year ago

Oh, heck yeah! A good neighbor is worth his weight in gold.

Posted by Jill Sackler, Long Island's South Shore Real Estate Agent (Charles Rutenberg Realty Inc. "Said and Done!") over 1 year ago

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