Have you thought about how YOUR neighbor’s home sale affects YOUR home value? We all worry about the home next door that may be being sold as a short sale or going into foreclosure but, did you ever consider that your home affects their sale? Further, their sale affects your home value. When driving to a listing appointment, I pay special attention to the surrounding homes. I also give my sellers recommendations to help their neighbors improve upon the appearance of the neighborhood. Many sellers are not willing to approach their neighbors to make changes or improvements upon their own homes though. So, they just ‘hope’ that their prospective buyers won’t notice. * If you have any siding on your home, keep up the maintenance on the exterior by pressure washing when you notice discoloration. * While you have your pressure washer out (or have someone doing it for you or while you’re using a rental), use it on your sidewalk and driveway. You won’t believe the difference it makes in the appearance of your home from the street. * Any rotten wood on your home? Have rotten wood repaired or replaced, and repainted. * Do you find yourself becoming complacent about the kids’ toys in the driveway or front yard? You may not be hosting guests or preparing for prospective buyers to come through your home but, your neighbors are! Being a good neighbor is also beneficial to you by keeping everything in its place–less hassle for you and yours! * Keep your lawn mowed; tall grass makes prospective buyers think that the neighbors don’t care about the neighborhood and will generally move to another community where the neighbors DO care. * Keep your landscaping manicured. Fresh flowers and trimmed shrubs not only make your yard look better but, look inviting for prospective new residents. * We all carry our doggie bags while walking our 4-legged friends; if you see paper trash on the street or sidewalk or even in a neighbors yard, pick it up and dispose of it. * Keep your garage clean or keep the door closed! A messy garage leads prospective new residents to think that the homes in the community are too small or don’t have enough storage. All of these are recent comments from buyers that I’ve had in my car! These buyers opted for communities that appeared to be in ‘better shape’ and that the neighbors seem to actually care about the community. While these buyers are buying in other communities, your neighbor is reducing the price of his/her home, further reducing the value of not only his/her but, YOURS! Be a good neighbor and do what’s right for the values in your community–for everyone’s sake!What’s In It for You, Neighbor?
Recently, I’ve written a couple of articles to better assist Charlotte home buyers with regards to doing due diligence on neighborhoods which they are considering residing. There are neighbors that you just can’t do anything about–how will their very existence affect your home values? Then, there are neighbors that may just need a little help from you or your HOA to improve upon their neighborly status.What can you, as a good neighbor, do to help your neighborhood sales and ULTIMATELY the value of your own home?
Read more: http://www.icharlotterealestate.com/whats-in-it-for-you-neighbor/#ixzz1R4mppL2g
(THE best Charlotte home search available - no kidding!)
Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
Debe-I really your list of this is a very good list, Last Friday afternoon I saw four of my neighbors all doing their lawns and driveways, this really motivates the rest of the neighbors to step it up. have a good holiday.
Thanks Adrian! And, you're absolutely right--when several of the neighbors keep up their homes/yards, it motivates others to do the same.
You have a fabulous Fourth as well!
Just a note about the pressure washer. Many southern California homes use tile for the roof and these tiles are easily broken by the forse of the pressure washer. So buys very careful when you point the pressure washer.
Debe - This is what I love about you! You are very thorough and don't miss anything!
Debe, Frank and I were commenting today that we are so grateful that our neighbors work hard to keep their yards looking good. There is one neighbor down the street where we walk who really needs pressure washing. I am so tempted to offer to do it myself, but my time is very limited since we work so much. We also have a problem here with inexperienced people breaking the seal on the thermal windows, so we have to be very careful around windows.
Happy Fourth of July to you and yours!
Sharon
Debe - you're so right that neighbors' homes can help impact the sale of the home that's actually on the market. I was just thinking of this the other day as I was showing properties. My clients had previously been looking for homes with another agent, in another community and mentioned that they'd seen many homes where they felt there were "hoarder" neighbors and they wouldn't want to live next door... But even less extreme issues can impact potential buyers' decisions!
Debe, I remember a hundred years ago when I was selling real estate in Boston, MA. my Broker would hire people to paint the neighbors home for free just so he could get maximum value on his listing. That stuck with me as a newbie agent:)) This is great advice you are giving out.
Debe: Great post that most neighbors DO NOT consider. This is why I am in favor of HOA's!
Without restrictive covenants, we have to rely on awareness of the obvious and common sense, both in need of educational posts like this one. Have a great 4th!
Great post Deb. HOAs are so helpful in maintaining your homes values. In areas where they aren't HOAs or weak ones, a neighbors house can really impact the value.
The price of a home sold in neighborhood is a reflection of all homes and not just one home.
Debe, this is an excellet post on what one should do to preserve the values in a neighborhood - even when there is no HOA. Thanks for sharing.
Great list Debe! I dropped of my daughter's friend at her home today and the half-raised garage had boxes spilling out from underneath - it did make me think that the house must be really small, or really messy - without even seeing the inside the judging and assessing started, and buyers do the same.
It does indeed take a village to make a village. Heartwarming stories abound of neighbors cutting grass and maintaining yards of abandoned and distressed properties..
Hi Debe,
Good post.
The neighbors house affects the house for sale in many ways.
Your points are well taken.
Thanks
Phil
Dear Debe,
I always learn so much from reading your posts.
Case in point: Just got a leasing agreement. Almost all the homes on the street have neat yards. Unfortunately, the abandoned house across the street from it hasn't had the yard cut in months (yes, months!). My Client is going to cut the grass himself. We cannot ask for a normal rent if the house across the street looks like a disaster struck.
Have a happy day -
Lynn
Hi Debe - real estate is SO local. And in a small market like ours, one sale in a neighborhood immediately impacts the values in that neighborhood.
I do tell buyers - yes, I got you a killer deal, but don't brag about it to your new neighbors. :)
Debe, You are so smart to write this post. Just makes sense. Hope the sellers have good rapport with the neighbors and could share this blog!
Love Endre's ( # 8 ) comment! That was a brilliant broker 100 years ago.
Margaret
Debe - These are great recommendations for the neighbor. Better yet, you've explained why it's in their best interest.
Debe: Great post and congrats on the Feature. I often think of a home that my husband and I were considering. Right across the street was a home falling into disrepair with a couple of old wrecks parked in the driveway and a long bearded pot smoking owner sitting out front. We laughed but the neighbour was a big reason why we walked away.
Abolutely Debe. A well maintained and clean neighborhood really enhances the values of that community!
If everyone is a good neighbor then the neighborhood will look great! Not going to happen everywhere.
Debe, very good advice! One run down house can run down the whole neighborhood.
Maya: Great point for those in your area! We don't have too many of those tiled roofs but, that is definitely something to consider. In that case, I'd hire a professional in the area to do the pressure washing.
William: Exactly--like minded buyers are great for your community!
Nevin: I have meant to write this post for 4 years! I think about it every day that I drive through subdivisions and see something that just sticks out like a sore thumb. Thanks!
Sharon: I can't say that I haven't had that feeling myself--and, like you, I don't have the time but, it's not good when there's a great listing in the community and that one really does stand out.
Shannon: That's true and it doesn't even have to be 'that bad' to have the buyers reject the entire community.
Endre: As Margaret said, what a smart broker you had 100 years ago!! I love that idea and I wonder why more agents/brokers don't offer that?
Jane: Unfortunately HOA's don't do anything about mold colored siding or a messy garage so, homeowners have to take some responsibility themselves. That's what we're seeing bring the neighborhoods down here.
Mara: Thanks--and yes, thank goodness for restrictive covenants but, the little things can dramatically effect the sales in the community just the same. Hope you have a great Fourth too!
Sherri: True and these basic homeowner responsibilities need to be addressed as well.
Prafal: That's SO true! I think if everyone realized the thousands of dollars their 'messy yard' was costing them, they'd take the time to be a good neighbor--for THEMSELVES too!
Alison: You DEFINITELY get it! You're so right and how many times do we hear our buyers make those same judgements aloud?
The first step for any potential buyer is to "buy into the neioghbourhood". If they don't, then the house will never be bought. They will move on.
I have noticed that in neighbourhoods, just as in relationships, it is possible for people to become co-dependent. In some areas, the neighbours become enablers and by their inaction their community slowly decays. Sometimes, all it takes is one good neighbour to start picking up the pieces. This can have a snowball effect on the entire community, as others start to catch on.
Pacita: It's a shame that we have to do that but, we often do and when the community (village) chips in together, it brings everyone together for a cause that they are all passionate about.
Phil: That's it--and we need to let these 'bad' neighbors know how much they're affecting their own values.
Lynn: You're right--and so is your soon-to-be landlord! I would do exactly the same thing--that could mean a lot higher rental amount that your homeowner can get for his home.
Virginia: LOL Great minds--I've said that same thing to buyers who get that great deal too!
Margaret: Thanks and I agree--that was one smart broker! Hope you're doing great lady!
Christine: Thanks--it's been on my blog bucket list for years! :-)
Valerie: SEE?! That's exactly what I'm talking about and it happens all the time. It just takes one bad apple for the buyers to head to another neighborhood!
Gabe: That's right! Thanks for stopping by!
Chuck: That's true--but, as stated above, if the community chips in, they can save their own home values.
Michael: So true and that's exactly to what I am referring!
Dale: And, I keep my own garage door closed!! LOL
Excellent advice, Debe. Like you, I look at the neighbors homes on the way to the listing we're showing. It can be an insight into the neighborhood and the potential change in home values. Thanks for posting!!
Very thoughtful post Debe. This can be a difficult concept to get neighbors to understand.
I need to confess a small sin. I need to repaint the trim on my home. Hope my neighbor doesn't hate me too much. Actually, let me rephrase: I need to hire someone to repaint the trim on my home. (Didn't want you to think that I actually do manual labor.)
When there is a good neighbor at work, every one benefits and when there is a bad one at work...we all suffer..plus they are missing out too because It is hard to love thy neighbor when they are misbehaving...
These are great suggestions for buyers and sellers.
Debe-
very thoughtuful and kind. I should send a letter out to the neighbors of my new listings that ask for thier help in that way. Great suggestions.
Brian: I counsel my buyers to select the community in which they wish to live--the one that fits all of their lifestyle needs--FIRST. Then, the task of selecting their new home is not so daunting! That's exactly what the neighbors miss when the buyers are touring the communities too: one bad apple can definitely affect the lot of them!
Mike L: TRUE--and I have a community in mind to become that one who cleans it up--several of them as a matter of fact! We know that the communities are good ones but, when someone from out of town sees that one bad looking home or yard, they're fearful that the community is on the decline.
Mike C: Thank you and yes, I don't think that many homeowners realize this--most do but, it's the few that don't that impact the entire community.
Howard & Susan: Thank you and it certainly can--you're so right!
Melissa: LOL Me either--I'll do the yard work but, not the painting! I leave that to the professionals EVERY time!
Richie: True--and in your AR community, all is bliss! LOL (I just love that post!) As I said, one bad apple...
Kathy: Thank you! Homeowners in general in every neighborhood can certainly benefit from this wake-up call!
Cathy: Thanks and that's definitely where I'm headed with this one too!
Debe,
Congrats on the feature; I stopped by to wish you and yours a Fantastic Fourth of July!
Mike in Tucson
Debe, Great post and a well deserved "feature" Here in the Boston area there are a lot of high end condo's the points you bring up are critical for condo living. I knock on the doors of the neighbors in a condo I have for sale or with a buyer who has put in an offer. You want to know them before you close your deal. A "psycho" neighbor above, below you or even near you can ruin your value and your life. Better to be sure and thank you for this great blog.
Debe-Good point. I had showings last week and in one neighborhood, the Buyers noticed people walking a breed of dog that could be considered aggressive. They declined to get out to see the house. So, if that happens frequently, the people considering this neighborhood will be less than without this type dog and the offer amounts will likely be less too. Can you say decrease in value?
In ActiveRain-land...you were greeter and in charge of community BBQ's...now I ask you, how could we go wrong...? Your the feature...the post is OK
Debe - congratulation on the feature. I agree about being a good neighbor, and everyone appreciates their good neighbors, and can't wait to get away from the bad ones.
Good job Debe. The neighbor DOES affect the value of your own home. Keep it clean and neat and you'll help yourself in the long run.
And neighbors affect neighbors - all want to look good for the others, especially if everyone else is planting and painting!
I have one neighbor that could really use this blog! We should pass this out at our next neighborhood association meeting! LOL
I know of real estate agents in my area who take listings, then proceed to call the city code compliance people to cite neighborhood homes for the tiniest matters. It certainly is legal, but it makes real estate agents look like busybodies at best, troublemakers at worst.
A neighborhood is what it is. If you have to sell a well maintained home in a neighborhood of homes that have mediocre maintenance, you and the home owner are stuck. It impacts price and we all know it. However, for my part, because I respect property rights and ownership to such a high degree, I will never interfere with my neighbor's use of his property unless it affects health, safety, or my capacity to use my property. He might have that garage stuffed to the gills, or fail to spend all his spare time keeping the dandelions out, but that's his right! The fact that it might cut into my property's value is my tough luck in a free society.
Great post and feature! You're so right, we all need to remember (and remind our buyers and sellers) that we are in the "win-win" business, and good neighbors attract good neighbors - usually. We can't legislate all human behavior, but we sure can do our part! And sometimes pointing out what needs to be done to a seller is all it takes - they've just stopped seeing what we all think is SO obvious!
Have a great day, Deb!
Debe - so true. After all, we never get a second chance at a first impression. Curb appeal ranks highly for re-sales!
What agreat blog! Well thught out and so true, I will reblog this one!
It is true, when my neighbors get out and start mowing, it really reminds me that as the neighborhood expert, I need to have a well kept yard. Nice post, thank you.
So true but even with these tips people are not going to see their home investment go up in value like they were used to over the past years during the boom....time to get used to the new norm.
Great blog, Debe. And this is why so many subdivisions have CCRs...since not every neighbor can be counted on to keep their yard cut, etc.
Bottom line is that to get that home sold....get it looking good! A good neighborhood is having all the neighbors doing their part to have a nice community.
Hi Debe:
This is definitely a great list, we all know that many times its a neighborhood that sells a home. I also remember a Chevy Chase movie were they bribed their neighbors to "behave" while they were trying to sell their house. That's always an option (LOL).
It's amazing how badly one poorly maintained home can affect the value of the neighborhood!
All good stuff, yet difficult to get any cooperation form absentee owners.
I'm sure glad I don't have any neighbors to be affected when my grass gets too tall! I haven't been able to keep up with it through this wet spring.
Great list! Now if we could just get the renters to care what their landlords house is worth I would be in 7th heaven :)
Really nice post. I need to include this in my listing presentation and marketing plan. It gives you a good reason to knock on your neighbors doors and try to get them involved in the sale.
No problem picking up paper but I draw the line at dog poop...unless the neighbor will show up and clean my cats litterbox...Neighbors will have to do there own...
Sorry, I've been crazy busy today but, DO appreciate all of your comments. This has become epidemic in some communities--homeowners basically don't think that their home could possibly do more harm to the sellers or themselves if they let it go. I wonder what has happened to pride in homeownership in a few communities.
#47: My personal residence is my home first, an investment second. If the neighbor to the right of me was selling his home, I'd do everything that I possibly could to help his home go for more money--it benefits us ALL. If the neighbor across the street hadn't mowed his lawn for 2 months, you're darn skippy I'd say something to him or offer to mow it myself. We may be 'only' neighbors but, we SHARE a community. If the neighbor across the street wants to live in a dump, he can move to a dumpy neighborhood--it's my investment dollar that he's jeopardizing by being a slouch. So, YES, it's my perogative and right as an investor, neighbor and member of my homeowners association to ask my neighbor to mow his lawn if he hasn't done so in 2 months--absolutely.
I am not one of those agents who phones the city to get the job done--in fact, I've never had to go that far. I believe that dipolmacy works better than many people think it does. And, when my sellers tell their neighbors that THEIR (the neighbors') bottom line is being affected by their own neglectful maintenance, they do tend to listen and heed the respectful advice of the seller.
#62: Geez, have you no better platform on which to advertise than mine?
This is a great subject! The worst offenders are often the foreclosures and many times are difficult to keep them maintained. I have seen several that finally get mowed or fixed up after the county inspectors come in and issue warnings or citations.
No cars on blocks! Nice well mowed lawns up and down the street always help. Thanks for the post.