Next door to a celebrity? Need advice.

[The Warrior Monk]

Just because of where I work, I've appraised the property of many well known individuals (movie stars, tv personalities, hedge-fund managers, sports team owners, etc.). It is very rare that a premium is ever paid when purchasing a celebrity's residence, and I've never seen a premium paid to live next to one. In fact, I've seen more than a few celebrity's homes bulldozed to make way for an even bigger home. And lastly, just because they're your neighbor today doesn't mean they're your neighbor tomorrow.

There have been a limited number of exceptions, such as a group of people getting together and purchasing, say, and artist's home for the purpose of preservation. But that's not typical, and it deals with the property the person actual occupied, not the one next door.

 

[Papoua Jose]

. Would you like living next to Justin Beiber, for example?

I'd probably go to prison for wringing his neck the first time he floored it down the street in his Ferrari.

The key would be, what happens when said celebrity is at home.

A super model and her friends? Heck Yeah!

 

[Elliott]

Jeff Daniels, that guy from Dumb and Dumber. $0.
Sen. Al Franken, that guy from Trading Places. $0

I've never seen a 'name' effect in real estate. Location is about location,
not the name on the deed. Would anyone want to live next to that snotty nosed Justin Bieber?

 

[RobFMDetroit]

Just because of where I work, I've appraised the property of many well known individuals (movie stars, tv personalities, hedge-fund managers, sports team owners, etc.). It is very rare that a premium is ever paid when purchasing a celebrity's residence, and I've never seen a premium paid to live next to one. In fact, I've seen more than a few celebrity's homes bulldozed to make way for an even bigger home. And lastly, just because they're your neighbor today doesn't mean they're your neighbor tomorrow.

There have been a limited number of exceptions, such as a group of people getting together and purchasing, say, and artist's home for the purpose of preservation. But that's not typical, and it deals with the property the person actual occupied, not the one next door.

I think this is the answer I was looking for.

And, by the way, someone did correctly guess who it was. Very clever.

 

[RobFMDetroit]

Also, I wasn't suggesting that a RE agent would put the info in the listing -- I'm just saying that they'd make sure that word got around to potential buyers.

And when I say universally-beloved, I mean it. Considered a hero to basically everyone in Detroit. Not even kind of a Justin Bieber. More like a small god. LOL.

 

[The Warrior Monk]

A property that has had a celebrity occupant at least has some history attached to it. OTOH, a property next to it has nothing attached to it.

Of course any real estate agent will use the proximity to such a home as a selling point, simply because their goal is to sell the property as fast as possible for the highest price. It doesn't matter to the agent how that gets done.

 

[Bobby Bucks]

I'm going to rule out Michael Moore, from the property description, he wouldn't fit through the front door. :icon_mrgreen:

 

[scott rabin]

I think this is the answer I was looking for.

And, by the way, someone did correctly guess who it was. Very clever.

To bad they had to trade his little clone

 

[Elliott]

Dylan or Prince?

 

[Tim Hicks (Texas)]

6-7 months would mean football. Stafford?