maximus otter
Recovering policeman
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As the ongoing fascination with “true crime” entertainment continues, so too does the fascination with homes where insidious events went down. The owners of a home in Westfield, New Jersey, are currently dealing with an influx of visitors after Netflix’s “The Watcher” — which chronicles a series of threatening letters the then-owners received in 2014 — became a streaming hit.
“The Watcher,” created by “Monster: The Jeffrey Dahmer Story” maestro Ryan Murphy, doesn’t deal with murder. But it’s not out of the realm of possibility that its new notoriety could impact anyone considering living there in the future. As data and experts show, crime — but particularly murder — can make a big dent in property values.
Often called “murder houses,” these homes are also known as “stigmatized properties” by the National Association of Realtors. Stigmatized properties include places that have been impacted by events such as murder, suicide, a notorious previous owner, and alleged occurrences like hauntings.
California real estate agent Dr. Randall Bell is a self-described “Master of Disaster” who has helped sell some of the most noted stigmatized properties in the U.S., including the previous homes of Nicole Brown Simpson and John and Patsy Ramsey.
In an interview, Bell explained that sellers of “tainted” properties can expect a “15 to 25% diminution in value for two to three years after the fact. Over time the discount evaporates, but it takes 10 to 25 years for the stigma to go away entirely.”
Bell’s data is echoed by that found by Realtor, using public data sourced by DiedInHouse.com, a website that uses property records to tell users whether someone died at a specific address. Data shows “murder houses” sell for a median 21% less than their previous sale price and 9% less than the list price. These properties also sell for 15% less than comparable houses in the same zip code.
https://thehill.com/homenews/3699660-murder-houses-how-does-violence-impact-sale-prices/
maximus otter
“The Watcher,” created by “Monster: The Jeffrey Dahmer Story” maestro Ryan Murphy, doesn’t deal with murder. But it’s not out of the realm of possibility that its new notoriety could impact anyone considering living there in the future. As data and experts show, crime — but particularly murder — can make a big dent in property values.
Often called “murder houses,” these homes are also known as “stigmatized properties” by the National Association of Realtors. Stigmatized properties include places that have been impacted by events such as murder, suicide, a notorious previous owner, and alleged occurrences like hauntings.
California real estate agent Dr. Randall Bell is a self-described “Master of Disaster” who has helped sell some of the most noted stigmatized properties in the U.S., including the previous homes of Nicole Brown Simpson and John and Patsy Ramsey.
In an interview, Bell explained that sellers of “tainted” properties can expect a “15 to 25% diminution in value for two to three years after the fact. Over time the discount evaporates, but it takes 10 to 25 years for the stigma to go away entirely.”
Bell’s data is echoed by that found by Realtor, using public data sourced by DiedInHouse.com, a website that uses property records to tell users whether someone died at a specific address. Data shows “murder houses” sell for a median 21% less than their previous sale price and 9% less than the list price. These properties also sell for 15% less than comparable houses in the same zip code.
https://thehill.com/homenews/3699660-murder-houses-how-does-violence-impact-sale-prices/
maximus otter