Is a pesky neighbor worth a $451,000 discount?

February 25th, 2009, 11:00 am · 3 Comments · posted by KELLI HART, THE ORANGE COUNTY REGISTER

Sometimes a pesky neighbor is just too much to handle.

But where the wrath of a neighbor may drive an owner away, it could result in a deal for the next owners that come along.

When I was chatting with Andrew Karigan of Prudential California Realty about NFL quarterback Carson Palmer’s home, he mentioned another listing he has that is priced lower than the original listing price because the owners don’t want to spend another second near their next door neighbor.

The home is located in Laguna Beach at 1129 Summit Drive and is full of imported fixtures from Italy. Karigan says the house was originally intended to be a second home for the owner, but he butted heads with the neighbor who continued to remind him that he needed to make sure certain features of the house complied with city code, like an outdoor stairwell.

Karigan says so long as the new owners make sure a few things check out with the city, they are in for a deal and the neighbor will leave them alone once they’re taken care of.

The price? It was previously listed at $2.3 million, now it’s priced at $1,849,000. And Karigan says this is “well below market price.”

All you have to do is get the neighbor off your back and make a few adjustments.

Would you buy a house if you knew a nagging neighbor was next door?

Details:

3 bedrooms, 3 baths
2,050-square feet
Contemporary style
Ocean and Catalina Island views
Open house: Feb. 28, 1 p.m. to 5 p.m. and Mar. 1, 1 p.m. to 5 p.m.

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oc3watch says:

February 25, 2009 at 9:45 pm

…that neighbor can talk to me though my attorney…….

sean says:

April 14, 2009 at 10:37 am

One of my coworkers lives next to an a__hole in Laguna. The neighbor went to the city over a variance issued more than 20 years ago. My coworker ended up spending close to 25k in legal fees and prevailed. The neighbor is now being sued under a little known legal thing called “slander of title” and is facing mounting legal bills of his own. Good times.

Enlightenment says:

February 26, 2009 at 11:14 am

Some people think they are the judge for entire neighborhoods. They are nothing but losers and tyrants with too much free time on their hands. If they had a real job, they wouldn’t have enough free time to be so picky.

City	ZIP	Price	Chg.	Sold	Chg.
DP	92624	$650,000	+28%	8	+60%
DP	92629	$575,000	-14%	32	+60%
LB	92651	$1,262,500	-7%	32	+46%
SC	92672	$587,500	-6%	35	+25%
SC	92673	$618,000	-6%	46	+0%
•O.C.	All	$432,000	+5%	2,896	-1%

Orange County Register