I've purchased two houses in the last 6 years.
Both times, I've walked away from several homes based solely on the condition of one or more of the nearby houses.
It's a buyer's market; If I don't like your neighbors, I sure as hell don't want them to be my neighbors.
One of the houses I looked at during our last move, I drove by again just last week.
It has since gone into foreclosure and is now abandoned, and looks every bit as bad as the cross-the-street neighbor's house that made me walk away in the first place. (neighbor still lives there...and still has half a pontoon boat sitting in the driveway, and two would-be dirt track race cars (minus engines and hoods) sitting on blocks in the side yard).
So yeah, the condition of this guy's neighbor’s house cost him a lot more than resale value. Its failure to sell cost him his home, credit rating and probably all the family repercussions that go with losing your home to foreclosure.
Am I pro-HOA? No, not really. I happen to live in a very weak HOA neighborhood now. $125 per YEAR. The mailboxes stay repaired. The grass stays mowed. People fly their American flags, or Colts flags or Marine Corps flags.
Wanna rebuild a car? Fine. Don't do it in your front yard for two years; do it in your garage.
Wanna collect old refridgerators? Fine. Rent a storage unit.
Like cats? Fine. Don't have 500 of them.
Like dogs? Fine. Don't let them roam free. (and don't have 500 of them either).
Wanna raise pigs? Not fine at all...go away and buy a farm.
That's worth $125 a year to me, so that I don't have to be the a-hole calling the SPCA on the crazy cat lady whose house stinks of ammonia for 1/4 mile in all directions, or reminding my neighbor that if he wants to run a used car lot, he needs to get a business license and display his 25 pieces of crap in a used car lot, not on the sidewalk.
To be fair...I've also walked away from houses because their HOA dues were too high, or their rules too onerous.
Combine ignorance, arrogance and low altitude, and the result is guaranteed to be spectacular.
Last edited by airmotive; 10-15-2012 at 12:16..