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We are talking an old out of date 50s house in a neighborhood of similar homes. We are talking about a home in a declining part of town, not in a great area of a quality city. It has problems that make a home difficult to sell. A shared driveway as an example. Today people are not going to pay a top price for homes within this neighborhood.
He wants to get the police and code enforcement to come in and make the people in the neighborhood comply with his desire for the neighborhood. But that is not possible. The neighborhood.
What it all comes down to, is the OP wants to sell the home at a higher price than it will bring in that particular neighborhood, and is not willing to lower the price to the true value of the home at this particular time. If it was priced at what it is really worth today, with everything being considered, it would sell.
There are only three things that regulate the value of real estate I was taught this in university real estate classes back in 1971, and have seen it referred to many times since then.
The three things are, Location, the second in Location, and when you get past the first two factors the third and most important is location. This rule never fails.
Second major factor in valuing real estate is the best home in a neighborhood is the worst one due to the fact that the home will not sell for a premium price over other homes in the that neighborhood. A super improved and high class home in a neighborhood, is really only valued at what typical homes in the neighborhood are worth.
From what the OP has told us, this home is the nicest home in a neighborhood, located in a part of town that is declining in value. He is not only seeing the value of his home due to it's relationship with the immediate neighbors, but in an area of town where property is declining in value. Buyers are not wanting to buy a home in a declining part of town, unless they can buy if for cheap.
Getting another Realtor to list it is not the solution. The odds that the listing agent will sell the home, are extremely small. Today buyers buy through a buyers agent, and sellers list it with an agent that will not sell it is the listing agent, and not expected to sell the home themselves. Especially in a deteriorating area of town.
The most obvious potential buyer, is an investor who will rent out the home. If that area of town is deteriorating as the OP says, then home owner buyers are not really looking into the area. Apparently the last two properties sold, are the duplex across the street, and the house next door. The rental trend has already been set in motion on that street, following what is happening in that part of town which the OP says is deteriorating, which means property values are falling not going up.
The police and code enforcement people, are taking into consideration what is happening in that part of town, and are not going to help him make the owners of the property across the street and next door quit renting to lower economic people and force them to live to the standard the OP wants. They realize the changes in that part of town, and know it is in the decline, and understand the life styles of the people that are going to be living in the rentals and are buying homes on that side of town. To do what would make the OP happy, can and often does bring harassment and ethnic harassment charges against the city and the officers involved.
If the OP wants to know what the home is really worth, priced to sell within 90 days, then he should bring in a mortgage appraiser. They will tell him what the home is really worth in today's local market. Then price it at that price and get it over with. If he waits to find a buyer willing to pay his price, when the home is appraised for mortgage purposes (and it will only be sold with a mortgage on it) and the appraisal comes in at a lower figure, he will have to lower his price to the appraised value to sell it.
The only way to know, is to get it appraised, and then price it at the appraised value. At this time he is emotionally involved, and does not have any real idea of the true value of the property. Being it is not selling, is the first clue it is overpriced.
Another way to sell for more is to assume the risk with Seller Financing...
Know an Old Time investor... his idea was to collect a portfolio of notes... sure, he had to foreclose on a few... not many and even the foreclosures worked out.
I had a seller that was trying to sell for a long time... the property had potential... just needed work so it was not a candidate for a bank loan...
I came in with a full price offer with almost no down provided the Seller carry a 5 year note at above market interest.... sold!
Took me about 90 days with permits and such to transform the place... and ended up with a very marketable 3 unit property...
I'm trying to sell my deceased mother's house on what was formerly a very nice street. In fact, ours was the best house ON the street, but now the house next door is owned by a Mexican restaurant owner who uses it for various family members and restaurant employees who may or may not be legal. If you've ever lived near Mexicans, you know exactly what I'm up against here... Any suggestions?
Are they true Mexicans or assorted Latinos of some sort? If you are in TX, AZ, NV or CA you might have real Mexicans.
My family had a house in San Antonio some years ago and when the neighborhood went downhill I told my brother to unload it for what he could. Another neighborhood would have fetched a higher price but it was a good time to unload.
I have found the house on Google earth and the current residents have basically covered the 1/4 ac lot with concrete
It's funny you should use the word "amplify." Blasting Mariachi music at all hours of the day and night. All-night "fiestas" and tamale assembly lines on the front lawn. Dozens of people always. Babies running around in diapers and barefoot all over my property. The "Mexican doorbell" (sitting in the giant truck or SUV blowing the horn instead of walking to the door and knocking). Goat slaughtering. 3' flames for the BBQ. Stuff everywhere. Throwing trash out the window and missing the trash can. Never mowing the grass. Breaking out windows and stuffing clothing in the holes. Draping wet laundry all over shrubs and fences instead of using a clothesline. Loud laughter. Millions of babies (did I mention)? Never working.
I could go on...
What you are describing sounds very much like living next door to trashy people of any ethnicity.
Just change out the music style and the food.
These are more "trashy" behaviors than "Mexican" behaviors.
I always roll my eyes at people who laugh at situations like the OP. If youve never been through it, its hell. A neighbor can very well (legally) make your life a living nightmare. We have a family across the street whose daughter is disabled so they have the house through a govt sponsored assistance program. Needless to say they do the minimal upkeep required by the HOA. The oldest daughter has plenty of "boyfriends" who loiter on the property all the time when no ones home, regularly fight in the street with one another, get the cops called on them, etc. It would be stupid to confont these trash kids because they know where we live and themselves have nothing to lose....
Then we have another family thats from Bosnia. They honk their horns and rev engines all day long (which isnt illegal during daytime hours). This classy family has spiderman sheets on the back windows that face my house, yard cars out of view of the front so its not an HOA violation, they run vacuum cleaners in their garage all day for some reason. Then to top it off their toddler screams all day long at the top of its lungs outside! Try having friends over for a pool day when the entire time theyre asking if that child is being abused, or dying!
It's funny you should use the word "amplify." Blasting Mariachi music at all hours of the day and night. All-night "fiestas" and tamale assembly lines on the front lawn. Dozens of people always. Babies running around in diapers and barefoot all over my property. The "Mexican doorbell" (sitting in the giant truck or SUV blowing the horn instead of walking to the door and knocking). Goat slaughtering. 3' flames for the BBQ. Stuff everywhere. Throwing trash out the window and missing the trash can. Never mowing the grass. Breaking out windows and stuffing clothing in the holes. Draping wet laundry all over shrubs and fences instead of using a clothesline. Loud laughter. Millions of babies (did I mention)? Never working.
I could go on...
Interestingly, we have a very similar situation on our block.
We have the additional visual "problem" of 13 separate pickups being parked each night. Seven in the driveway and on the lawn, and the rest along the street with the wheels over the sidewalk. They have to share the house with a lot of people because these folks are laborers and don't make a lot of money. I think they are maybe isolated feeling.
I don't know what the answer is. It's a different culture. They are polite when I have to knock on their door to return their chihuahuas, who are little escape artists. The chihuahuas are always dressed cute. The children are precious and sweet and love to come over and draw with chalk on the driveway.
When we move, I am thinking maybe some more immigrants will buy our home, maybe pooling money to make a cash offer.
I always roll my eyes at people who laugh at situations like the OP. If youve never been through it, its hell. A neighbor can very well (legally) make your life a living nightmare.
Boy, that's the truth. I have one too. You're smart not to complain because if they're the type to retaliate (as mine are) they can deliberately harass you, and stay within the law doing it.
Whenever I see a thread like this, I try to post just to counteract all the people who come in trying to make the victim feel like they're too picky, or uptight, or sticking your nose in their business, or racist. Like trash and noise all night and kids spilling into his driveway wouldn't bother him if these people were pale white Mayflower descendants. Like being "culturally sensitive" means being okay with trying to be productive at work after lying awake for hours every night because of the noise.
So anyway OP, you have my sympathy. I know exactly how you feel. Wish I had better advice for you but I don't have any idea how to get them to stop. I've tried everything I know of with zero results. I know this isn't what you want, and it's not fair, but if I were you knowing what I do about my personal sitch, I'd just take care of things the realtor told me, then unload it no matter how big a hit my pocketbook took. You're nothing without your health, and that includes mental health especially.
If you can not sell have you thought of renting it out? Maybe it won't rent either. Rent to own maybe an option. Maybe some other creative way of unloading the home.
I don't know if any of these things would work. Is it possible to take a loan from the home pulling your money out of the property. Then selling the home to a first time buyer or someone looking for a rent to own situation with you carying the note. The renters are paying back the loan, you have your money, if it does not work out you evict and rent it out to someone else looking to buy.
I am not in the business nor do I know anything about the business of realestate. Just wondering if there are any other creative solutions.
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