Appraising Tragedy. When a murder or suicide strikes, real estate values can drop by as much as 30 percent. How neighborhoods struggle to overcome “stigmatized property.” In some states, such as California and Georgia, the law requires sellers or agents to disclose events like murder or suicide for a number of years after the event. Other states simply require the property owner to answer honestly and thoroughly if asked directly about crimes that have occurred inside the house. Even though a violent crime doesn’t physically affect most homes, the notoriety of events in a house and the psychological impact on prospective buyers usually results in a drop in value, a lower price tag. Local and national experts say discounts on a stigmatized home can vary from 10 percent to 30 percent of the normal market value. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
No comments:
Post a Comment
Thank you for commenting!