Sunday, April 02, 2006

More About Animals and Real Estate

One thing the downtown real estate developers have really got right is--the animal option. As in, most buildings allow them. Even our friends' bull mastiff would be permitted, we were told during the recent (and disappointing) Downtown loft tour. Of course some breeds, like Presa canarios, are excepted. (I don't mean to impune Presa canarios. After all, the character of almost any animal is driven in significant part by the breeder and owner.)

A year ago, I listed a studio condo in Koreatown. I had a truckload of agents and buyers, clamoring to see it. Multiple offers were written. Hey that's generally 'all good' if you're a listing agent--only thing is, the offer count would've been even higher if the building allowed pets. One couple was incensed, "If we're the owners, how can they tell us we can't keep our ten-year old house cat." Another asked mockingly, "What're they gonna do--stage a kitty eviction?!"

Many are marrying later--if at all, and having kids later--if at all. Perhaps for these reasons (and others), the companion animal is becomingly increasingly present in contemporary, urban, American life.

Point is, whether you like animals or not, if you're living in a community bound by C.C. & R.'s (covenants, conditions, and restrictions) and animals aren't on the welcome mat, you're courting a smaller buyer's pool. Smaller buyer's pool, less demand, hey you don't need an Econ degree to figure where I'm going.