The Selling of a Crime Scene

Randall Bell, a California-based damage economics specialist, says stigmatized homes that once were crime scenes can lose 10 percent to 25 percent of their value; but some properties, particularly those in urban areas, retain their value even if violent crimes were committed there. Stigmatized properties in rural areas tend to be most affected by the memories retained by residents of these quiet locales, but Bell says “mitigations,” like new addresses and remodeling, can help eliminate the stigma carried by these properties. Whether Realtors and sellers are required to disclose murders and other violent crimes varies by state, but Bell says it is important for them to be upfront and honest to avoid problems down the road. Some buyers pay a few hundred dollars to have the homes cleansed of negative energy by a feng shui specialist, and Bell recommends whatever gives people peace of mind. | Read More