Some Neighborhoods Being Inundated With Over Crowded Rental Tenancy

Some Neighborhoods Being Inundated

With Over Crowded Rental Tenancy

 

How are things going in your neighborhood today? Have you been noticing anything peculiar or different going on lately?

 

  • Like a half a dozen cars crammed into one driveway for months even years on end?
  • Or old clunkers being abandoned on the roadside?
  • Or worse yet old pieces of furniture, TVs, even dirty old used mattresses being dumped on the roadside?
  • Poorly maintained landscapes?
  • Or homes in a state of disrepair and poor or no maintenance (slum lording or just plain indifference or maybe even greed)?
  • Trash accumulation around the property?
  • Congregations of people loitering around outside of a home doing nothing but drinking beer and smoking cigarettes and even POT for weeks on end?
  • Garage and yard sales taking place at the same homes or even on street corners every weekend selling old clothes and basic junk?
  • Increase in burglaries, peeping Toms, car break-ins, strangers walking through your neighborhoods staring at you and your children?
  • perhaps even home invasions and other forms of crime and violence in some communities?

 

Fortunately not all neighborhoods (particularly gated,

protected and patrolled communities) are experiencing

this.

 

However, I have been noticing this happening in a few areas in and around the San Diego area where you would have never seen it happening just a few short years ago. Where homeowners had a pride of ownership and respect for their neighbors and weren't afraid to let their children meander through their neighborhoods on their bicycles and skateboards.

 

Perhaps its the beleaguered hangover of the last recession that has left so many families financially strung out or even indigent. Or probably more directly landlords just not being responsible for their properties or not able to control or enforce how many tenants actually live in their homes, apartments, condos, etc.

 

Or worse yet just plain don't give a damn and look the other way. Or even worse charge every tenant who resides on their property and don't care how many there are or how crammed they get in one residence. 

 

I won't show any photos of any of these very disturbing and unsightly blighted areas for obvious reasons. But anyone who happens to read this post who lives in these neighborhoods knows what and where I'm talking about.  

 

And YES, it has impacted property values

for  everyone living in these areas.

 

It's pretty difficult if not impossible to get the appraisal you think the home you've spent so much time, money and effort deserves when the homes just a few doors or even blocks away have become so cluttered, neglected and abused by renters and in some cases even squatters who just don't give a damn and have no respect for anything or anyone let alone self respect.

 

So what can you do about this situation when the Cities and the County just look the other way and don't enforce zoning ordinances, don't clean up the litter and abandoned junk heaps on your streets and in your neighborhoods and/or just don't have the financial wherewithal or inclination to deal with it?

 

That's a very interesting and perplexing question. As civil and obedient citizens with limited resources and capabilities our options are few and it's very discouraging for those homeowners who have to endure it.

Why To Choose Us?

John DL Arenden, Broker 

TAG Real Estate Sales & Investments

TAG (The Arendsen Group) Real Estate Sales & Investments is a full service, one-stop, turnkey, family owned and operated real estate brokerage, General Contractor, Manufactured Home Contractor, Developer, Investor, Property Manager, Interior Design, Engineering, architectural, Landscape design, Expert Witness, Consulting, Curative Title and Troubleshooting company with over 100 years of combined experience in the San Diego real estate sales, construction, design & development arena.

 

 

 

 

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Comment balloon 14 commentsJohn DL Arendsen • July 24 2016 06:38AM

Comments

You bring up some good points when a buyer is interested in a neighborhood. How many rentals are in the subdivision? It does have an impact on property values.

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) over 2 years ago

They are risking Fannie and FHA financing when renters become greater than 50% !!!

Posted by Michael J. Perry, Lancaster, PA Relo Specialist (KW Elite ) over 2 years ago

Not just limited to subdivisions Harry F. D'Elia . There are a lot of neighborhoods that are not subdivisions. Many are even rural and/or semi rural. But you're spot on. These are thinge RE professionals should research before they show a property.

In this litigeous environment you could be sued for non disclosure by an unwary home buyer that may want to lay blame on anyone who can fog a mirror should they have a situation like this crop up.

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

Problem is Michael J. Perry I don't think many if not most of these landlords even care about Fanny or FHA financing. They're making so much money on all the tenants financing is probably not an issue.

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

John DL Arendsen Your post is getting some reaction from those of us that haven't seen this phenomenon. Where in world have you been?

Even in some of the lower-cost areas I haven't seen this.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 2 years ago

I won't tell you where I'm talking about in an open forum like this Bill Roberts  But I'll be happy to share it with you next Wednesday if you're planning on joining the meet up. Or when we next get together.

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

OK John DL Arendsen I would like to be there. Are you going to re-post the notice so that everybody realizes that the time has been changed?

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 2 years ago

Tut tut Bill Roberts you haven't been paying attention.

http://activerain.com/blogsview/4919252/active-rain-summertime-meet-up-rescheduled-by-popular-demand-

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

I really feel for those homeowners, often long time residents, who have watched their neighborhoods decay with these types of conditions.  Often they cannot afford to get out because their houses have lost so much value and other neighborhoods are beyond their financial reach. 

Posted by Susan Haughton, Susan & Mindy Team...Honesty. Integrity. Results. (Long and Foster REALTORS (703) 470-4545) over 2 years ago

You're so right on about that Susan Haughton and in some if not many cases in a lot of the older neighborhoods homes have been passed onto other family members who are not in a position to maintain their properties and either neglect them or end up renting them out to the types of folks described in this post. 

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

I have been doing investment real estate for almost 27 years and anytime you go over 10% rentals in a neighborhood that is too many. You need a clean and owner-occupant oriented neighborhood for appreciation to help the investor and what you describe is just self-destructive.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) over 2 years ago

Couldn't agree more Joe Pryor It's already happened in several of these communities. While prices are on the rise throughout most of San Diego County, especailly the Coastal communities, prime upscale communities, gated and patrolled sub-divisions and/or exclusive rural and semi rural estates these other areas have not gained a whole lot of traction as far as appreciation is concerned.

This coupled with your observation re rent vs own ratios will keep these values relatively stagnant and prevent much if not most incentive to gentrify these down trodden neighborhoods. Should there be another correction in the housing market anytime soon it will only serve to exacerbate the situation all the more.

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

One of the things I noticed during the last real estate downturn that began around 2006, was the number of homes that were sold to investors.  I worried then that we might see a deterioration of conditions in some neighborhoods. And, like you, I've seen it come to reality.  Couple that with the drought here in California, and folks unable to keep landscaping in a presentable manner, and we have elements coming together for a perfect storm.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) over 2 years ago

You stole the words right out of my mouth Myrl Jeffcoat Fact of the matter is I'm posting a follow up of this tomorrow on that very subject. You nailed it to a big if not bigger extent. Can't wait to get your reactions to the next exciting adventure.

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) over 2 years ago

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