As the real estate industry faces plunging real estate values, tough mortgage conditions and a glut of homes on the market, neighborhoods now have another threat to their home values --- someone might just air the neithborhood's dirty little secret to the entire world--- the neighbor from hell.
Last year, one frustrated renter -- who happened to be a computer programmer-- decided instead of talking to his neighbor about his concerns, he'd talk about him --- for the whole world to see.
His revenge: Rotten Neighbor
Rotten Neighbor is the first real estate search engine of its kind allowing you to rate and review good and bad neighbors before and after you move so you can make a smart real estate decision. How? By user contributed information on millions of neighbors and neighborhoods ...
The media is loving this story. Everyone from The Today Show, To NPR to CBS News has featured this social media tool
Since the site launched in late July, hundreds have mapped their own neighborhoods like minesweepers at RottenNeighbor to pinpoint problem properties: yipping Chihuahuas, wannabe DJs and, at the extreme end, drug dealers and abusive parents. The site is a high-tech tool for those who want to scout out a neighborhood before moving in, providing a voyeuristic look at the people who live next door.
I peeked. Checked out my neighbors. So far no one has posted a thing in my neighborhood. That is a very very good thing. The National Association of Realtors say over 80% of potential buyers do their research online before they actually go house hunting.
How major an impact this site will have on home sales is still too early to tell. But, it could become an impetuous for unhappy neighbors to finally confront problems in the neighborhood that they previously tolerated.
And, thereis a risk of vigilante behavior -- a hell hath no fury like a homeowner who believes the real reason their house isn't selling is because of the neighbors.
Image Credit: Rottenneighbor.com
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