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#358386 - 11/20/10 05:32 PM Would you consider a cementery as an external obsolescence???
A-Neto Offline
Member

Registered: 09/13/07
Posts: 220
Loc: NJ
I do but I could be wrong. I would like to know your opinion.


Edited by Cuban-BPO (11/20/10 05:32 PM)
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#358387 - 11/20/10 05:35 PM Re: Would you consider a cementery as an external obsolescence??? [Re: A-Neto]
PhoenixReo Offline
Member

Registered: 05/11/09
Posts: 279
Loc: Phoenix, AZ
I wouldn’t. Cemeteries tend to be good neighbors as their occupants tent to be pretty quiet.

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#358388 - 11/20/10 05:43 PM Re: Would you consider a cementery as an external obsolescence??? [Re: PhoenixReo]
A-Neto Offline
Member

Registered: 09/13/07
Posts: 220
Loc: NJ
But dont you think that will limit the pool of buyers based on the location????
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#358410 - 11/20/10 08:32 PM Re: Would you consider a cementery as an external obsolescence??? [Re: A-Neto]
PhoenixReo Offline
Member

Registered: 05/11/09
Posts: 279
Loc: Phoenix, AZ
I have listed and sold houses that bordered on cemetery property and it didn't seem to matter to the buyers. There was also no discernable difference in price from similar houses in the neighborhoods that didn’t border on the cemetery so at least in my market, there was no price penalty.

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#358412 - 11/20/10 09:14 PM Re: Would you consider a cementery as an external obsolescence??? [Re: PhoenixReo]
jbt4re Offline
Major Contributor

Registered: 03/04/07
Posts: 1801
Loc: SWI
I live very close to one, don't back up to it, but houses up the street from me do and I have sold two those houses in the last few years and not one person that I know of commented on the "negative" of the cemetary. Also, they did not sell for any less that a similar house within 1 mile.

No direct back neighbors and the view over the fence is of the tree tops, so you can't really see the gravestones. Occassionally the bagpiper plays, but it is such a cool sound to listen to, I don't really mind.


Edited by Justine (11/20/10 09:18 PM)
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#358419 - 11/20/10 10:14 PM Re: Would you consider a cementery as an external obsolescence??? [Re: jbt4re]
Realtors Rule Offline
Member

Registered: 04/16/10
Posts: 46
Loc: NearTheBig City
I did a bpo on a home that backs to a cemetary this week. I mentioned it in the bpo, but I didn't make any adjustments. I think in this case it's not a negative. I suppose each situation is different, depending on how the lot relates to the cemetary.

I wouldn't mind living next to one because yes, the occupants are quiet. :) I did sell a home years ago which had one tomb from the 19th century just across the lot boundary. The buyers didn't mind.

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#358424 - 11/21/10 05:04 AM Re: Would you consider a cementery as an external obsolescence??? [Re: Realtors Rule]
PA Roadkill Offline
Major Contributor

Registered: 11/15/06
Posts: 2050
Loc: The Middle of the Interstate
I actually got a QC back this week because I didn't adjust downward for a cemetery across the street.
I pointed out that I grew up across from a very large cemetery and they were great neighbors because:

They never spoke loudly or played loud music.
They never shot off fireworks on July 4th or New Year's Eve.
I didn't have to listen to them reving up their motorcycles at 5:30AM.
I never heard loud domestic disturbances.

Those are all things I put up with in my prior house.
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#358425 - 11/21/10 06:23 AM Re: Would you consider a cementery as an external obsolescence??? [Re: PA Roadkill]
A-Neto Offline
Member

Registered: 09/13/07
Posts: 220
Loc: NJ
PA Roadkill, thats my point, sometimes they send orders back because the considere ( sometimes ) a cementery a factors that can retrac buyers from subject.
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#358431 - 11/21/10 08:13 AM Re: Would you consider a cemetery as an external obsolescence??? [Re: A-Neto]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4726
Loc: Vermont's North-East Kingdom
Recent Cemeteries are fine; but I'd caution people about being in close proximity to those which were operating prior to the 1920s when arsenic was used in embalming fluid and continues to leach into the local water table today.

Municipal monitored water supplies, instead of private drilled wells in these areas, usually overcome this problem.

If you are within 1000 feet of an Old Cemetery and still serviced by a private water supply, due diligence would suggest a water test be conducted to assure an arsenic content of less than 10 ppb (the current EPA "2006" maximum contaminant level for arsenic in drinking water) be performed. Arsenic cannot be routinely removed from your water.

You may like the flavor of that water (arsenic is actually tasteless); but you always have to think about the tastes of those that follow you, and your resale value.
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#358455 - 11/21/10 11:47 AM Re: Would you consider a cemetery as an external obsolescence??? [Re: Vermont]
super realtor Online   content
Major Contributor

Registered: 05/01/05
Posts: 8479
Loc: georgia
Good point about the arsenic.

In commercial a cemetery does matter heavily.Especially if you are valuing land.

For instance assisted living centers don't like them as it's a constant reminder to their live ins of impending doom.Also if you are developing land that borders it the buffer requirements and fighting with the public at the zoning and board approval hearings can be long and drawn out. All of these items increase development costs.

Usually a developer won't mess with an area that has one unless it is a really good location or next to a hard corner.

Being next to a cemetery will bother some and not others but I do believe it does reduce the buyer pool then if it didn't exist. So just in my area I would do a deduction.

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#358456 - 11/21/10 12:05 PM Re: Would you consider a cemetery as an external obsolescence??? [Re: super realtor]
FL_Agent Offline
Veteran Member

Registered: 07/14/08
Posts: 930
Loc: Puffy Clouds
Originally Posted By: super realtor
Good point about the arsenic.
For instance assisted living centers don't like them as it's a constant reminder to their live ins of impending doom.


But it would save some gas money...Just have a wheelbarrow ready and go back and forth...because of this, I would say, the value should go up..

wink

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#358460 - 11/21/10 12:26 PM Re: Would you consider a cemetery as an external obsolescence??? [Re: FL_Agent]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4726
Loc: Vermont's North-East Kingdom
Originally Posted By: FL_Agent
But it would save some gas money...Just have a barrel ready and go back and forth...because of this I would say the value should go up

That's real economy . . . . no Pall Bearers or anything ? A stripped down-to-the-bones Wheel Barrow procession instead of a nice Cortège with a Small Band ? Do you suppose that would be covered by MediCare ?
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Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#358466 - 11/21/10 01:08 PM Re: Would you consider a cemetery as an external obsolescence??? [Re: Vermont]
FL_Agent Offline
Veteran Member

Registered: 07/14/08
Posts: 930
Loc: Puffy Clouds
Originally Posted By: Vermont
[That's real economy . . . . no Pall Bearers or anything ? A stripped down-to-the-bones Wheel Barrow procession instead of a nice Cortège with a Small Band ? Do you suppose that would be covered by MediCare ?


I know Vermont...the current economic climate calls for some extreme measures...Some families might actually like that there will be some savings in The End and, if Medicare covers some of the costs, perhaps there could be an upgrade in services.

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#358467 - 11/21/10 01:14 PM Re: Would you consider a cemetery as an external obsolescence??? [Re: FL_Agent]
Cool guy Offline
Major Contributor

Registered: 06/30/04
Posts: 2043
Loc: California
Yes because when the Zombie Apocalypse happens you will be at a much higher risk compared to those furthest away from the cemetery.

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#358468 - 11/21/10 01:41 PM Re: Would you consider a cemetery as an external obsolescence??? [Re: Cool guy]
Doin' bpose Offline
Major Contributor

Registered: 01/26/09
Posts: 2961
Loc: Old Dominion
I would say no. A death in a home need not be disclosed, at least in my area. Death is a natural part of life. That being said, it certainly will not be a selling point for many people.

In Richmond, there is Hollywood cemetery near a section of town called Oregon Hill. There are many famous tombs there. It is sort of Edgar Allen Poe-ish, hipster-fashionable, spooky, chic cool to live there (the houses, not the graves).

Another example, I owned and sold an investment property within view (across the street) of a Military Cemetery. As you might imagine the tombs are uniformed and orderly, conveying a sense of awe and remeberance for those who fought and died for our country.


Edited by Doin' bpose (11/21/10 02:17 PM)
Edit Reason: spelling
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