A common refrain I hear from Newport Beach residents goes something like this, “That neighbor is killing my property value with their BLANK (insert eccentric detail here, with expletive).” Maybe so. But I doubt it. The Realtor who fails to notice the upside in these BLANK situations loses out for himself, and for his client.
Take, for example, the sailboat being refurbished in the side yard or the large motorhome that is visible from the street. If I have the listing next door (or possibly, the “offending” home) I promote the following:
- NO design and review committee to shoot down your dream remodel
- NO restrictive homeowner’s association with high associations
- NO surprise assessments for upkeep
- NO lawsuits that affect entire HOA
- NO worries about the bounce house for your kid’s birthday party
- NO guest pass for visitors to park in front of your home
- NO hassle of calling the gate for every last delivery or repairman.
Or, how about the funky building that doesn’t “fit” within the neighborhood? Take, for example, the famous Bubblegum Alley in downtown San Luis Obispo. To some this is a disgusting place full of germs. But for many, this is what makes SLO special. It’s unique. It draws traffic. It shows character. My kids love this place. It’s a marketer’s dream that brings shoppers downtown, lures families with kids, and is a favorite stop for students.
For every oddity, there is appeal. A good Realtor will find that audience and bring them to the table.