Property Grunt

Tuesday, August 02, 2005

Compatibility: Looking for the Reeses Peanut Butter Cup in Real Estate

In a past entry the Grunt presented his take on the suburban market which led to a discussion from readers about the market. The Grunt would like to take this moment to discuss the concept of real estate compatibility in association with the suburbs.

Compatibility should be on the mind of any successful real estate owner/investor. They have to be on the watch for anything on the horizon that is compatible with their property since it only serves to enhances the value of your property. For instance if you are looking for a residential investment in Manhattan nearby subway station would be quite compatible for your property. One also should also be on the look out for incompatibility. For instance a crack house would be most incompatible with any real estate investment and would have a higher chance of devaluing it. Another example of incompatibility would my next door neighbors who have no concept of volume control on their stereo system and have a need to play the bass at ass shaking levels in hopes of turning their drab existence of an apartment into a club that they are unable to afford to go to. These tenants would be incompatible with certain real estate investments particularly any of mine.

I bring up compatibility because of a segment that was aired on Fox 5 news about a homeless shelter being moved to Valhalla in Westchester County which was originally located at the Westchester County Airport. According to this article the residents are none too pleased particularly with the level 3 sex offenders that will be residing in the shelter.

A homeless shelter, especially one that houses level 3 sex offenders, is definitely incompatible with real estate investments particularly residential homes. Let's face it, the last thing you want on your mind is that there is somebody in your town who intends to reenact the last Michael Jackson Trial with your kids.

If you want to avoid these types of situations you have be aware of your own compatibility issues. Is living in a town with a homeless shelter that also houses sex offender something you are comfortable with? What is your threshold? Some people can deal with it and others can't even stand the thought of a homeless shelter in the next town over. Then you must take the iniative that wheverever you live that your environment is compatible to your needs.

Valhalla does have an interesting dynamic of industries including the Westchester Medical Center, New York Medical College and the Westchester County jail, which exist harmoniously. Perhaps its unique adaptability was what made it such a promising candidate for Westchester County.

The Grunt is quite sympathetic to the Valhalla residents’ plight and to Westchester County. I am sure this was not an easy decision to make but it had to be done since there is a need for a shelter because of the small yet signifigant number of homeless people in the area and it needs to be addressed.

A homeless shelter is par for the course in the city but in the suburbs it is considered an ananomly since people migrating to the suburbs are fleeing from that type of element. I am sure many former urban dwellers were shocked to hear these institutions exist in suburbs particularly the newcomers.

The dream of suburbia is to raise your children and live in peace and tranquility of the clean air, grass and your own private roof over your head without having to deal with the hazards associated with the city including drug dealers, noise and menus shoved under your doors.

Never, ever make the assumption that things are different in the suburbs. Urban blight can manifest itself in different ways in the land of lawns, backyard barbecues, clean air and Erma Bombeck. All you need to do is take a look at Valhalla to see underneath the veneer of the surburban garden of eden there slithers the snake of social problems that need to be resolved.