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There is a house my street that was for sale when we bought ours in 2006. They have lowered the price, but too little, too late. They keep up the house and still live there, so it's not a big deal. They just weren't serious about selling at first.
lol! I hate HoAs too, but I'm going to have to agree with Coastie. Besides, I feel that you ARE responsible for your neighbor's property values. Taking care of your house is part of being a good neighbor. I expect you to take good care of your home just as I would take care of it for you if you were not able to due to disability of old age.
I can understand why it would be frustrating, but there isn't really anything one can do about it.
I was negatively impacted by a seller in a similar fashion. Their house had one more bedroom and one bathroom than mine. It was way overpriced for a little over two years. The main problem was it was remodeled to accomodate a wheelchair-bound person, including a huge ramp in front and a converted living room. They did not do ANY price drops or remodels in the 2+ years on the market.
Last Summer, I had my house appraised as required for a home equity loan. I wanted to make some improvements and upgrades. My house, in the current condition, appraised with no problems.
One month after I started upgrades on my home, the Seller of the other home converted the living room back into a living room and removed the wheelchair ramp from the front of their home. They dropped the price to the amount my house appraised for PRE-improvements. It sold within 30 days.
As a result, that house was used as a comp for my home and I was basically forced to list for the appraised value PRIOR to any improvements. While I did not lose much (based on the original purchase price and sweat equity) I feel that property owner did a disservice to all of us in that subdivision by not pricing appropriately from the beginning.
I assume there is no association overseeing properties in the area or the other house would not be allowed to stay in such condition for long. Sadly, short of maintaining the lawn yourself, it seems there is little that can be done.
Last edited by mjd07; 07-05-2010 at 11:23 PM..
Reason: Typos
In my neighborhood, there is a home 150K overpriced. It's been on the market I think almost a year. They haven't even done one single price drop. They bought it as a foreclosure and I think tried to flip it. No one is living in it. The for sale sign is falling over and tilted. The bushes haven't been trimmed. Every once in awhile the lawn gets mowed.
It's like just drop the price and allow someone to live in this beautiful house and take care of it. It's so irritating to see a home overpriced beyond reason.
And now the listing says available for lease purchase.
It's like move on with your lives and allow somone to enjoy the home!
Would this bug anyone else?
/rant
As long as people like them can pay their taxes, insurance, and mortgage, without taxpayer support, then no, it doesn't bug me. I have long come to terms with the fact that most people are stupid with their money. If they think it saves them money to pay the monthly nut on an empty, aging structure, then more power to them.
I own my property. I am not responsible to your property values.
An HoA is counter to American freedoms.
Not really. Because you can choose to live somewhere without an HOA. The rest of us who like to live in a pretty neighborhood will move to HOA places.
It's possible that the seller of that house, op, does not have to sell it for financial reasons and would rather keep it until it sells for closer to what they want. Not everyone selling a house is desperate to get out of it.
Not really. Because you can choose to live somewhere without an HOA. The rest of us who like to live in a pretty neighborhood will move to HOA places.
It's possible that the seller of that house, op, does not have to sell it for financial reasons and would rather keep it until it sells for closer to what they want. Not everyone selling a house is desperate to get out of it.
So you think that all places without an HOA are not nice looking neighborhoods?
I'm just shocked destersun hasn't posted yet. Those are always entertaining.
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