I dont blame you for being concerned and curious about this home for sale.
I have a few suggestions to make for you,
(1)Go to the Town Board or Mayor
(3)check with an Appraiser or get a CMA from a professioanl agent like myself.
There are some attributes of this home including short walk to train and the neighborhood has alot of charm.
It has great pontentials as an investment especailly if it is a short sale and you can get a great low price on this home.
please contact me for further information.
Grand Lux Realty
I did look up the listing on the MLS and from what I could see from the aerial view it does look like it may be a mess. The problem is it appears that you can't avoid looking straight down the neighbors driveway as you approach this house. Putting shrubs, trees and fencing might block this from view while you are on your intended property, but not as you drive up. FYI, 111 Manchester last sold in 2004 for $100,000 more then the current asking price. It did come on the market about 9 months ago at $515k and is now a short sale at $425k. There are things you need to consider before moving forward on this property. Please feel free to contact me or if you are working with an agent ask them to explain your options and the workings of a short sale.
Licensed Associate Broker
2008 Realtor of the Year
Prudential Douglas Elliman
As for the home purchase needing work, if the values are there in the immediate aea then it could be a good investment. It also depends how long you plan on staying in the home. You should have a buyers agent helping you with this process and all of the other details you mentioned.
Health and safety hazards are not decided by the YOU and are always not so obvious. Also, one of the Town Judges lives near to this property and I am sure he is not happy about it either!
The value of this home will be affected by the "neighborhood" so you should take that into account when you make your offer. I think that this home has been for sale for about 6 months so that could also improve your position. If you do purchase this home and "clean it up" it is likely that the neighbors will also start to improve their places. ( It happens all of the time) Westchester County Homes are expensive and it is often difficult to even afford a starter home here.
In the long run, I am sure that you will benefit from home ownership in this area. You also forgot to mention to our out of state friends that within 2-3 blocks of this location there are homes valued well in excess of $1,000,000 . Good luck in your hunt!
1) No, unless it's a tremendous value.
2) Yes. Absolutely.
What you've got is a problem that's likely to continue regardless of your efforts. So, that house and its problems are going to stay the way they are for the foreseeable future. It won't change.
That means it'll detract from your please living in the home you're considering buying. It also means that, when you decide to sell, there's a chance that eyesore will still be there.
So the question is: Can you live next to the eyesore? And are you prepared some day to sell, with the eyesore still there?
In less extreme cases, I've known investors who've approached homeowners and offered to have their yards cleaned up for free. In some cases, I've known investors to do that for 4-5 surrounding homes (urban rowhouses). I don't know whether you'd be willing to do that, or what the cost would be, or whether the eyesore owner would be open to that, and whether and problem would recur even if it were cleaned up. Still, that's a possibility.
My gut reaction would be to advise you to keep looking. But certainly consider the possibilities I mentioned above.
Hope that helps.