Unless the victim or killer was famous, how would buyers even know? Don't think the seller would be dumb enough to say, oh by the way...
Effect of a tragic event on value of a home
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Originally Posted by atikovi
Unless the victim or killer was famous, how would buyers even know? Don't think the seller would be dumb enough to say, oh by the way...
Word of mouth, it really disturbs people when you tell them they bought my Late Uncles land, and he hung himself by the rafters in the tool shed.
Unless the victim or killer was famous, how would buyers even know? Don't think the seller would be dumb enough to say, oh by the way...
Word of mouth, it really disturbs people when you tell them they bought my Late Uncles land, and he hung himself by the rafters in the tool shed.
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Originally Posted by Vern_in_IL
Originally Posted by atikovi
Unless the victim or killer was famous, how would buyers even know? Don't think the seller would be dumb enough to say, oh by the way...
Word of mouth, it really disturbs people when you tell them they bought my Late Uncles land, and he hung himself by the rafters in the tool shed.
Most buyers look at a house for an hour max, then go on to the next one. They don't usually chit chat with the neighbours. Unless they live in the same neighbourhood, word of mouth won't get to them until they have moved in. And really, unless the walls start leaking blood like in the movies, who cares what happened if the price is right.
Originally Posted by atikovi
Unless the victim or killer was famous, how would buyers even know? Don't think the seller would be dumb enough to say, oh by the way...
Word of mouth, it really disturbs people when you tell them they bought my Late Uncles land, and he hung himself by the rafters in the tool shed.
Most buyers look at a house for an hour max, then go on to the next one. They don't usually chit chat with the neighbours. Unless they live in the same neighbourhood, word of mouth won't get to them until they have moved in. And really, unless the walls start leaking blood like in the movies, who cares what happened if the price is right.
I couldnt care less, so long as the mess is cleaned up and sanitized properly. Some people on the other hand could never live there at any price.
I couldn't care less, either....
Originally Posted by Vern_in_IL
Bull, nobody list "murders, and deaths" in house for sale descriptions.
Sorry skippy, but you're wrong. In most states, the owner is required to disclose a defect causing a property to be stigmatized. A peaceful death is completely different, but on most seller disclosure forms listing a violent death is required.
Bull, nobody list "murders, and deaths" in house for sale descriptions.
Sorry skippy, but you're wrong. In most states, the owner is required to disclose a defect causing a property to be stigmatized. A peaceful death is completely different, but on most seller disclosure forms listing a violent death is required.
Depends on the laws of the state. It varies from state to state, some require disclosure some don't some within a certain number of years. In my state, we don't have to disclose so it doesn't affect the sale price. Many people google the address of the house though so if there was a murder, it'd show up in the news. Only saw it disclosed once. I guess the place was a drug deal that went bad and it was a foreclosure. The guy was shot and died in the kitchen. Had a buyer who went to see it. There was a cross shaped cutout in the kitchen with some stands and caution tape around the hole. I guess that's where the guy exsanguinated. So they cut out the floor to get rid of all the bodily fluids. Needless to say, my buyer didn't buy it.
There was a home in this area with a grisly double homicide in 2008, that recently sold for $1.56MM. Its market value without the stigma would have been $1.9MM. Despite it being a seller's market where most homes sell in 3-4 weeks, this one sat on the market for an absurd 6 months. So buyers definitely still care about it. The stigma never fades completely.
OTOH, another home sold last year for market value very quickly even though someone had just died of cancer there. Natural deaths don't hurt home values as much.
If you're not bothered by the history, you can get a huge discount. But bear in mind that in the next 10 years, it will be hard to sell. If its history is on the internet, then people will never forget about it.
Or, buy it and rent it out.
OTOH, another home sold last year for market value very quickly even though someone had just died of cancer there. Natural deaths don't hurt home values as much.
If you're not bothered by the history, you can get a huge discount. But bear in mind that in the next 10 years, it will be hard to sell. If its history is on the internet, then people will never forget about it.
Or, buy it and rent it out.
Originally Posted by xfactor9
There was a home in this area with a grisly double homicide in 2008, that recently sold for $1.56MM. Its market value without the stigma would have been $1.9MM. Despite it being a seller's market where most homes sell in 3-4 weeks, this one sat on the market for an absurd 6 months. So buyers definitely still care about it. The stigma never fades completely.
OTOH, another home sold last year for market value very quickly even though someone had just died of cancer there. Natural deaths don't hurt home values as much.
If you're not bothered by the history, you can get a huge discount. But bear in mind that in the next 10 years, it will be hard to sell. If its history is on the internet, then people will never forget about it.
Or, buy it and rent it out.
This shows just how illogical people are. Cancer patient with dangerous drugs and so forth in their system...no problem. Murder with no lingering issue...run!
There was a home in this area with a grisly double homicide in 2008, that recently sold for $1.56MM. Its market value without the stigma would have been $1.9MM. Despite it being a seller's market where most homes sell in 3-4 weeks, this one sat on the market for an absurd 6 months. So buyers definitely still care about it. The stigma never fades completely.
OTOH, another home sold last year for market value very quickly even though someone had just died of cancer there. Natural deaths don't hurt home values as much.
If you're not bothered by the history, you can get a huge discount. But bear in mind that in the next 10 years, it will be hard to sell. If its history is on the internet, then people will never forget about it.
Or, buy it and rent it out.
This shows just how illogical people are. Cancer patient with dangerous drugs and so forth in their system...no problem. Murder with no lingering issue...run!
These homes are more difficult to sell. My in-laws picked up one at decent price but more that it abutted another property they owned.
My in-laws winter ski home and summer rental to foreign visa workers(cash cow) was the scene of a prior owner incest of child and then suicide of parent. Sick. It was the barn where suicide happened at least. I won't set foot in it and personally think it should be burned.
My in-laws winter ski home and summer rental to foreign visa workers(cash cow) was the scene of a prior owner incest of child and then suicide of parent. Sick. It was the barn where suicide happened at least. I won't set foot in it and personally think it should be burned.
Originally Posted by 5AcresAndAFool
How much if any do you feel a house is devalued if a murder or other tragic event took place in it? There is a house that came up for sale that is in a good location on a nice piece of land. The house itself needs updates but is in average livable condition.
There was a domestic situation there where a person murdered thier spouse inside the house.
Not my first pick of homes due to the situation but it would not neccesarily turn me away completely, depending on price.
The thing that suprised me is the price is around the price of comparables, maybe 10 percent less if that. I do not know if they have disclosed what happened there but the locals know, it's no secret.
I was just kind of surprised of the price, I know it is about to go into foreclosure so maybe they owe enough on it they have to ask that price. I don't know. I just expected it would have had at least a 20 to 25 percent hit on the price. Houses here are selling well, and the area is growing but it's not a trendy or hip place to live.
Common sense tells me they owe and why they need to ask that price. I would expect foreclosure.
OR
Make an offer on the murder house, ITS possible the bank may work with you and the homeowner to avoid foreclosure, more so on a murder house. It cost banks a lot of money to foreclose, if they can avoid it they will.
Yes, without question, someone being killed in a house would affect resale value.
and ...
MURDER is the one thing that HAS to be disclosed to a buyer IF buyer asks. Some states might even require it or some real estate agents might have to disclose it.
Real Estate, much of it, is a state issue but also involves things at a Federal Level. Im just unsure if the buyer has to ask or not.
After reading comments, yes, I do see states like Florida do not have to disclose, it varies state to state.
On the other had, even in Florida, things get dicey if you ask the question and you are mislead or lied to. But then again, that is after the fact and you would most likely already own the home by then.
Someone in here had another good idea, google the address for news, even the street name without the number for news. ETC
How much if any do you feel a house is devalued if a murder or other tragic event took place in it? There is a house that came up for sale that is in a good location on a nice piece of land. The house itself needs updates but is in average livable condition.
There was a domestic situation there where a person murdered thier spouse inside the house.
Not my first pick of homes due to the situation but it would not neccesarily turn me away completely, depending on price.
The thing that suprised me is the price is around the price of comparables, maybe 10 percent less if that. I do not know if they have disclosed what happened there but the locals know, it's no secret.
I was just kind of surprised of the price, I know it is about to go into foreclosure so maybe they owe enough on it they have to ask that price. I don't know. I just expected it would have had at least a 20 to 25 percent hit on the price. Houses here are selling well, and the area is growing but it's not a trendy or hip place to live.
Common sense tells me they owe and why they need to ask that price. I would expect foreclosure.
OR
Make an offer on the murder house, ITS possible the bank may work with you and the homeowner to avoid foreclosure, more so on a murder house. It cost banks a lot of money to foreclose, if they can avoid it they will.
Yes, without question, someone being killed in a house would affect resale value.
and ...
MURDER is the one thing that HAS to be disclosed to a buyer IF buyer asks. Some states might even require it or some real estate agents might have to disclose it.
Real Estate, much of it, is a state issue but also involves things at a Federal Level. Im just unsure if the buyer has to ask or not.
After reading comments, yes, I do see states like Florida do not have to disclose, it varies state to state.
On the other had, even in Florida, things get dicey if you ask the question and you are mislead or lied to. But then again, that is after the fact and you would most likely already own the home by then.
Someone in here had another good idea, google the address for news, even the street name without the number for news. ETC
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Originally Posted by madRiver
It was the barn where suicide happened at least. I won't set foot in it and personally think it should be burned.
Why? Should the Coliseum be burned because thousands we killed there? Or just because the barn now seems creepy. And I don't understand if people think there are ghosts on the property, why burning down the building will do anything. I mean, you can't burn ghosts, can you?
It was the barn where suicide happened at least. I won't set foot in it and personally think it should be burned.
Why? Should the Coliseum be burned because thousands we killed there? Or just because the barn now seems creepy. And I don't understand if people think there are ghosts on the property, why burning down the building will do anything. I mean, you can't burn ghosts, can you?
Originally Posted by Skippy722
Bad voodoo man, I wouldn't step foot in the place.
Seriously? LOL.
Bad voodoo man, I wouldn't step foot in the place.
Seriously? LOL.
Seriously, you want to burn it?? There are NOT any "ghosts". You guys have a hyperactive imagination. Get a grip, LOL
Originally Posted by gfh77665
Originally Posted by Skippy722
Bad voodoo man, I wouldn't step foot in the place.
Seriously? LOL.
Laugh all you want, it would always be in the back of my mind and it'd drive me crazy. Hard pass.
Originally Posted by Skippy722
Bad voodoo man, I wouldn't step foot in the place.
Seriously? LOL.
Laugh all you want, it would always be in the back of my mind and it'd drive me crazy. Hard pass.
Kestas
Staff member
Two houses over the owner committed a nasty suicide. A couple years later there's a nice family living there.
I believe these things need to be disclosed in Michigan.
I believe these things need to be disclosed in Michigan.
Originally Posted by Skippy722
Originally Posted by gfh77665
Originally Posted by Skippy722
Bad voodoo man, I wouldn't step foot in the place.
Seriously? LOL.
Laugh all you want, it would always be in the back of my mind and it'd drive me crazy. Hard pass.
In Miami, some folks will hire a santero to perform a ceremony to cleanse the property of bad spirits.
I'm not joking...
https://en.wikipedia.org/wiki/Santería
Originally Posted by gfh77665
Originally Posted by Skippy722
Bad voodoo man, I wouldn't step foot in the place.
Seriously? LOL.
Laugh all you want, it would always be in the back of my mind and it'd drive me crazy. Hard pass.
In Miami, some folks will hire a santero to perform a ceremony to cleanse the property of bad spirits.
I'm not joking...
https://en.wikipedia.org/wiki/Santería
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Depends on the buyer. Some people care, some don't.
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