Next door to a celebrity? Need advice.

[gregb]

Please deduct 4 points from your man card.

But add 4 points if you drive the right car. :icon_lol:

 

[Jambalaya]

my office did a study on this for a lender, and found no premium for being next to a celebrity. we went even farther and found no premium for being a celebrities former home.

 

[incognito]

Biggest, most beloved celebrity in Detroit, the biggest dump of a city in the US? Sorry, I'm not impressed...

 

[GCJim]

OK, OK.......it's gotta be Denny McLain. Right??

 

[redfish]

Biggest, most beloved celebrity in Detroit, the biggest dump of a city in the US? Sorry, I'm not impressed...

Central Florida sounds real nice this time of year if you can dodge race wars and trigger happy cops.

 

[Ca Ar Independent]

my office did a study on this for a lender, and found no premium for being next to a celebrity. we went even farther and found no premium for being a celebrities former home.

I've done the same analysis myself. No market reaction for "occupant of note", "prior occupant of note" (used to be a celebrity home once upon a time) or "proximity to occupant of note". Fame is fleeting.

 

[normando]

I remembered I did an appraisal on this street and I couldn't figure out why homes on this street sold higher than normal. When the agent told me that the mayor lived on the street, I wasn't impress but some are.

 

[Cyril L. Greenawalt]

I have appraised many properties in "celebrity loaded" neighborhoods and have never ever seen land value differences that are measurable due to close proximity to a specific person living there. Quite frankly, "celebrity", "famous person" whatever the term are relative descriptions of individuals. Would you make a location adjustment for a house next door to a cop with his car in the driveway? I have been tempted in "some" neighborhoods to. What I have found is that when I slip and "name drop" to people that so and so lives down the street etc. they usually reply with "of course he does".

 

[William K]

SO when the celebrity moves then what happens, you lose value?

 

[Michigan CG]

If someone were to say to my wife that Barry Sanders, Tom Brady, Eli Manning, or Brett Farve lived next door she would have a blank look on her face.

I wonder how a listing right next door to Anthony Weiner would be doing about now?