AllenG2 (Texas)
Posts: 1
Posts: 1
Posted:
In Houston Tx we have a semi tractor in a driveway. Do we have a case with protecting property values?
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Comercial vehicle in driveway
Started by AllenG2 • 15 replies • 1049 views
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DouglasK1 (Florida)
Posts: 2,046
Posts: 2,046
Posted:
If you have deed restrictions or an HOA with covenants that prohibit commercial vehicles, then you would have a case for taking action against the owner for breaking that rule (not for affecting property values). In the absence of deed restrictions/HOA, you can check with your local municipality or county to see if any rules are being broken. Code or parking enforcement would be the typical departments to handle that, but it could be some other agency.
If there are no deed restrictions or local laws/ordinances, I doubt there is much you can do. There is no general law that disallows others from affecting your property value. You could try to sue, but unless you can prove damages, and that there is some legal reason that your neighbor should not be able to park the truck there, you will likely lose. In that case, the judge might even award your neighbor attorney fees that you would be on the hook for.
If there are no deed restrictions or local laws/ordinances, I doubt there is much you can do. There is no general law that disallows others from affecting your property value. You could try to sue, but unless you can prove damages, and that there is some legal reason that your neighbor should not be able to park the truck there, you will likely lose. In that case, the judge might even award your neighbor attorney fees that you would be on the hook for.
Escaped former treasurer and director of a self managed association.
JaredC (Texas)
Posts: 264
Posts: 264
Posted:
Yip. What Douglas said.
Check your CC&R's plus Rules & Regulations for your HOA first.
Check your CC&R's plus Rules & Regulations for your HOA first.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
A commercial vehicle parked in a driveway effects home property values how? Or is it that it is found less attractive to potential buyers?
Former HOA President
GenoS (Florida)
Posts: 4,276
Posts: 4,276
Posted:
Quote:
Posted By MelissaP1 on 04/28/2019 6:38 AM
A commercial vehicle parked in a driveway effects home property values how? Or is it that it is found less attractive to potential buyers?
A commercial vehicle parked in a driveway effects home property values how? Or is it that it is found less attractive to potential buyers?
For crying out loud, there is no meaningful difference. Someone skipped elementary math and logic. If it looks like a duck, walks like a duck and quacks like a duck.... it's a duck.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
So I am to ASSUME I see a commercial truck in a driveway someone won't pay what I am asking for when selling my house down the road? Really... Home VALUE is an ACTUAL # NOT an APPEARANCE thing. HOA's do NOT keep home values. They keep the homes ATTRACTIVE and in good maintenance common areas shared. A commercial truck in a driveway is just an eyesore. It doesn't take dollars off the sale of anyone's house. If so, prove it...
Former HOA President
SamE2 (New Jersey)
Posts: 310
Posts: 310
Posted:
Quote:
Posted By MelissaP1 on 04/28/2019 12:23 PM
So I am to ASSUME I see a commercial truck in a driveway someone won't pay what I am asking for when selling my house down the road? Really... Home VALUE is an ACTUAL # NOT an APPEARANCE thing. HOA's do NOT keep home values. They keep the homes ATTRACTIVE and in good maintenance common areas shared. A commercial truck in a driveway is just an eyesore. It doesn't take dollars off the sale of anyone's house. If so, prove it...
So I am to ASSUME I see a commercial truck in a driveway someone won't pay what I am asking for when selling my house down the road? Really... Home VALUE is an ACTUAL # NOT an APPEARANCE thing. HOA's do NOT keep home values. They keep the homes ATTRACTIVE and in good maintenance common areas shared. A commercial truck in a driveway is just an eyesore. It doesn't take dollars off the sale of anyone's house. If so, prove it...
Maybe not in Alabama but it does in New Jersey.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Wow so it's different there that if I go to the bank to get a loan to buy your house, the estimator is going to come out to check for vehicles with commercial tags/emblems in the neighborhood. If they find one, they going to take 5K off the sale of the house or approval for the loan? I will make sure to tell my neighbors when selling my house to move eyesore items so I can get full price I want...
Former HOA President
TimM11
Posts: 354
Posts: 354
Posted:
Assessed value and market value are two different things.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Thanks TimM111 - My point exactly...
Former HOA President
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
Quote:
Posted By MelissaP1 on 04/28/2019 12:23 PM
It doesn't take dollars off the sale of anyone's house. If so, prove it...
It doesn't take dollars off the sale of anyone's house. If so, prove it...
It's not something that can be proven.
However, it could happen.
If someone chooses not to place an offer on your home because of the condition of the neighborhood, you will only know that someone looked at the property and chose not to make an offer. It's unlikely you will ever really know why.
If enough people choose not to make an offer, you might lower your asking price in order to get potential buyers to make an offer.
If enough sellers have the same problem, the comps in the area show lower sales and can result in a lower appraisal.
Unfortunately, there simply isn't a magic number of buyers or comps that make this happen.
Additionally, unless someone took the time to do in depth interviews with all potential buyers in the area, you simply won't know what factor (or factors) influenced the buyers decision to make an offer or not.
As has been pointed out (and discussed in the past) there are many "values" associated with home buying.
Appraised value, market value, perceived value, etc. etc.
All of the values interact with each other. How much interaction varies.
SamE2 (New Jersey)
Posts: 310
Posts: 310
Posted:
Quote:
Posted By MelissaP1 on 04/28/2019 4:54 PM
Wow so it's different there that if I go to the bank to get a loan to buy your house, the estimator is going to come out to check for vehicles with commercial tags/emblems in the neighborhood. If they find one, they going to take 5K off the sale of the house or approval for the loan? I will make sure to tell my neighbors when selling my house to move eyesore items so I can get full price I want...
Wow so it's different there that if I go to the bank to get a loan to buy your house, the estimator is going to come out to check for vehicles with commercial tags/emblems in the neighborhood. If they find one, they going to take 5K off the sale of the house or approval for the loan? I will make sure to tell my neighbors when selling my house to move eyesore items so I can get full price I want...
Melissa how is market value determined in Alabama?
TimM11
Posts: 354
Posts: 354
Posted:
Quote:
Posted By MelissaP1 on 04/29/2019 11:14 AM
Thanks TimM111 - My point exactly...
Thanks TimM111 - My point exactly...
I'm not sure what your point was, though. Just because something doesn't affect the assessed value for tax purposes doesn't mean the market value can't be affected when it's time to sell.
JohnC46 (South Carolina)
Posts: 14,265
Posts: 14,265
Posted:
Quote:
Posted By TimM11 on 04/30/2019 8:45 AM
Posted By MelissaP1 on 04/29/2019 11:14 AM
Thanks TimM111 - My point exactly...
Thanks TimM111 - My point exactly...
I'm not sure what your point was, though. Just because something doesn't affect the assessed value for tax purposes doesn't mean the market value can't be affected when it's time to sell.
I agree. There have been times when I was looking to purchase a home that when driving to view the home, I did not like the overall neighborhood so I never even looked at the home. Lovely home or not, the look of the neighborhood drove a buyer away.
SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
As you can see from the other responses, Allen, property values and what affects them is a subjective thing - the very word values should tell you that we might not agree on what's important or not.
I'd concentrate on the practical (and sometimes that's also subjective). First of all, do your documents even address semi tractors (e.g. no parking at all anywhere in the community?) Is this tractor creating a blind spot on the street that can cause an accident? When the owner drives it up and down and back down the street, is its weight creating premature wear and tear on the streets? If the association is responsible for the streets, have maintenance costs spike after this thing showed up? It may be easier to answer those questions and then decide what happens next.
I'd concentrate on the practical (and sometimes that's also subjective). First of all, do your documents even address semi tractors (e.g. no parking at all anywhere in the community?) Is this tractor creating a blind spot on the street that can cause an accident? When the owner drives it up and down and back down the street, is its weight creating premature wear and tear on the streets? If the association is responsible for the streets, have maintenance costs spike after this thing showed up? It may be easier to answer those questions and then decide what happens next.
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
JohnC that is "MARKETING VALUE". Marketing value is "sellability". Does it make you want to buy it? That is subjective and based on wide ranging OPINION. It's NOT measurable or tangible. I did not buy a house based on the wallpaper. The house "value" didn't go down because of it. It just wasn't "Marketable" to me. A HOA is to keep "Marketable" value by having restrictions etc... They are "sales tools".
Also a factor in "Market value" is when people go to the media to report how their HOA sucks. People hear/see a story about your HOA ripping flags out of Veteran's yards etc... Well who is going to WANT to buy into that HOA?
Property value on the other hand is Tangible and based on REAL numbers/data. It's based on what other homes have sold/foreclosed for in about a 6 month period similar size, bed/bath, and condition. A 3 bedroom/2ba house sold for 100K 2 doors down, then you can expect your home to sell in the 100K range. What hurts it is if short sales/foreclosures are factored in. The average price is then changed.
So a commercial vehicle parked in a yard violating CC&R's means it effects the MARKET value of the house or houses in the HOA. It doesn't effect the taxes you pay on the house or sale price you ask for it. It just means someone may not purchase at your asking price or loan approved.
Also a factor in "Market value" is when people go to the media to report how their HOA sucks. People hear/see a story about your HOA ripping flags out of Veteran's yards etc... Well who is going to WANT to buy into that HOA?
Property value on the other hand is Tangible and based on REAL numbers/data. It's based on what other homes have sold/foreclosed for in about a 6 month period similar size, bed/bath, and condition. A 3 bedroom/2ba house sold for 100K 2 doors down, then you can expect your home to sell in the 100K range. What hurts it is if short sales/foreclosures are factored in. The average price is then changed.
So a commercial vehicle parked in a yard violating CC&R's means it effects the MARKET value of the house or houses in the HOA. It doesn't effect the taxes you pay on the house or sale price you ask for it. It just means someone may not purchase at your asking price or loan approved.
Former HOA President
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