Skip to main content

Death can really kill your home value, #realestate #market #investment #advice

"When you have an image that someone was murdered, it can be uncomfortable when you are living there."
He's consulted on the valuations of homes involved in some high-profile deaths, including O.J. and Nicole Brown Simpson's condo and the home of Adam Lanza, the gunman at Sandy Hook Elementary School.
The Lanza home in Newtown, Connecticut, ended up being demolished. "Some circumstances are so horrific...that the property loses all value," Bell said.
Disclosure rules vary by state and some are more strict in what buyers need to be told about a home's history. Bell said about half of states require a homicide be disclosed and that New York and California tend to be the most strict about disclosures.
murder home
Finding buyers willing to pay list price for a home with a dark past can be a struggle.
"Some buyers are completely fine with it," said luxury real estate broker Samantha DeBianchi in Southern Florida. "It depends on the personality. Some won't even step foot into the home."
In 2014, DeBianchi had a luxury listing where a high-profile suicide had occurred. The home got some verbal low-ball offers, but it was eventually taken off the market.
"At the end of the day, there was nothing I could do about [its history]. The fact was the house was gorgeous, on the beach, it needed a little work, but it still had a good energy."
The home is now back on the market for sale, but has rented in the past for around $25,000 a month.
Living close to a funeral home, crematorium or cemetery can also have a negative impact on a home's value, according to data from Trulia that controlled for other factors that could impact home values.
Houses in the South and Midwest that are near cemeteries, funeral homes and crematoriums tend to have the biggest difference in value, according to Trulia's Chief Economist Ralph McLaughlin. He added that of the top 10 markets with the largest negative difference, eight are in located in these two parts of the country.
In Omaha, Nebraska, home sales were reduced by 3.9%, which would be $5,812 discount on the median home value there. The impact was almost double in Little Rock, Arkansas, where a funeral home or cemetery reduced a home's value by 8.6% or $11,050.
A home close to a cemetery could be an easier sell -- especially if it's an older and less active cemetery.
DeBianchi has a client considering purchasing a property on a street that backs up to a cemetery. "The buyer likes the quiet. There is something tranquil about it."
Ambulance sirens coming in and out of a hospitals are not as calm, and living close to a hospital hurt home values in just over half of the 100 biggest housing markets.
Close proximity to a hospital impacted home values in Charleston, South Carolina, the most, shaving 3% off home values.
But in some markets, living close to a good hospital can boost a home's value.


justin lee thayer
Justin Lee Thayer 541 543 7287

Popular posts from this blog

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...

First-Time Home Buyer Mortgage Risk Edge Up Team Thayer Real Estate news.

The first-time buyer share in April, May, and June was launched to new highs, supported by improvements in the labor market, riskier mortgage lending, and continuing low mortgage rates. The  American Enterprise Institute (AEI)  International Center on Housing Risk  recently released a  report , finding that first-time buyers account for 58.8 percent of primary owner-occupied home purchase mortgages with a government guarantee, up from 57.2 percent the prior June, according to the Agency First-Time Buyer Mortgage Share Index (FBMSI). The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages reached an estimated 52.9 percent, up from 51.6 percent the prior June, according to the report. In addition, AEI determined that the Agency First-Time Buyer Mortgage Risk Index (FBMRI) stood at a series record of 15.83 percent, and increase of half of a percentage point from the average over the prio...

Understanding the tax advantages and disadvantages of homeownership #realestate #taxadvantage #taxes #housing #market

It’s no secret that some of the major perks of homeownership are the tax write-offs and advantages that follow the purchase. In fact, according to a 2015 survey by the National Association of Realtors, 80% of homebuyers see homeownership as a good investment, and 43% think it’s better than investing in the stock market. Reaping the rewards of mortgage interest and property tax deductions is just one way to think of your home as an investment. But there are even more real estate–related tax advantages and disadvantages that can slip under a new homeowner’s radar. It can be relatively easy to trigger tax liabilities or perks (and then fail to claim them) on that new piece of  Eugene, Or, real estate . This is why it’s essential to touch base with your tax pro before every real estate transaction, no matter how minor a question you may have. Sometimes planning and timing make a major difference in the financial impact of a real estate–related tax; other times, ...