Next door to a celebrity? Need advice.

[redfish]

Redfish knows whats up. LOL.

Don't ask how I knew that P.D. would be staying after the end of his 2 year contract or that BG was adding over 2,000 sq/ft to a home that was purchased as soon he became an engine part, or how big a bath C Bah Bah......was taking on his joint when he sold, with the new deal I bet he wishes he didn't dump it.......

 

[RobFMDetroit]

No one can answer that, as it may vary locationally. I would first ask the buyer. Did he know about the famous neighbor? If he did, did it affect his bid amount? Then ask the prominant agents in that area and get their opinion. I personally highly doubt it would have a measurable affect. It's not the subject and the famous dude could leave tomorrow. If you find that it does make a difference, I'd address it in reconciliation, not on the grid. Good luck​

Agreed on the measurable difference -- it can't exactly be extracted from the market. And I do plan to ask some agents if they've had experience with this kind of thing. Pretty sure at this point that I won't even mention it in the appraisal. As some have pointed out, he could leave tomorrow. Just couldn't shake the feeling that once word got out who lived next door, the bidding war would begin. Anyway, thanks.

 

[Bingo]

A Detroit sports star who resembles Redfish's mathematical clue was once interviewed outside his home and I thought to myself that is a small site for a playa's crib.

 

[RobFMDetroit]

Aw, I'm sorry. Next time I'll take account of your delicate sensibilities and break the advice more gently. How's this, discretion is the mark of professional demeanor?

How's this? I'm a fellow human being who was genuinely looking for advice and you broke the ice with "keep your mouth shut". I can't help but notice the other responses that didn't include that phrase. Huh.

Anyway, I agree with the discretion remark. Which is why I seeked out and asked a group of fellow appraisers the question, not the public at large. I haven't disclosed anything more than a general summary of the situation to anyone, and nothing's on paper yet.

And, for the record, I think it's a completely fair question. There isn't a real estate agent in the world that wouldn't find a way to tell potential buyers that the most-loved person in Detroit lives next door. I agree with people who say that a measurable difference would be impossible to nail down (it would be), but we mention a lot of features in an appraisal for which a value may not be measurable, but are certainly selling points. Wouldn't living in a neighborhood populated by famous people be a selling point? Or do people buying in that price range pretty much accept that as a given?

 

[RobFMDetroit]

A Detroit sports star who resembles Redfish's mathematical clue was once interviewed outside his home and I thought to myself that is a small site for a playa's crib.

It's not gigantic. Deeper than it is wide. Like 5,100 sf.

 

[Calvin the Airedale]

How's this? I'm a fellow human being who was genuinely looking for advice and you broke the ice with "keep your mouth shut". I can't help but notice the other responses that didn't include that phrase. Huh.

Anyway, I agree with the discretion remark. Which is why I seeked out and asked a group of fellow appraisers the question, not the public at large. I haven't disclosed anything more than a general summary of the situation to anyone, and nothing's on paper yet.

And, for the record, I think it's a completely fair question. There isn't a real estate agent in the world that wouldn't find a way to tell potential buyers that the most-loved person in Detroit lives next door. I agree with people who say that a measurable difference would be impossible to nail down (it would be), but we mention a lot of features in an appraisal for which a value may not be measurable, but are certainly selling points. Wouldn't living in a neighborhood populated by famous people be a selling point? Or do people buying in that price range pretty much accept that as a given?

Dear Rob,

You gentle snowflake you. Welcome to AF. We could use more sensitive types around here. You know, just to sort of class up the joint.

Where I'm from its a mark of respect to speak among one's peers with candor and brevity. I meant no offense.

 

[RobFMDetroit]

Dear Rob,

You gentle snowflake you. Welcome to AF. We could use more sensitive types around here. You know, just to sort of class up the joint.

Where I'm from its a mark of respect to speak among one's peers with candor and brevity. I meant no offense.

Fair enough.

And I've never been called a snowflake before. Nor have I used these weird emoticons.

 

[J Grant]

One way to resolve this problem of no measurable $$ for $ premium, is instead of an adjustment for being next door to FP (famous person), reconcile it at higher end of value, if your judgment of area leads you to believe it might sell at higher end or be more marketable because of it.

You don't have to reveal their name. State something like:

"Subject is adjacent to the home of a well respected local and national leader in his field, who is thought highly of in the area. After surveying RE agents , they believe that this makes the subject home more marketable and appealing, which is one of the reasons it is reconciled to higher end of the value range."

 

[residentialguy]

Dear Rob,

You gentle snowflake you. Welcome to AF. We could use more sensitive types around here. You know, just to sort of class up the joint.

Yeah Rob,

Not many of us sensitive types around here. :Emoticon_hug:


Now if you'll excuse me...I'm going to go get a tissue, **sniff**

 

[Michigan CG]

Yeah Rob,

Not many of us sensitive types around here. :Emoticon_hug:


Now if you'll excuse me...I'm going to go get a tissue, **sniff**

Please deduct 4 points from your man card.