Halfway House for Sex Offenders---Does it affect value?

[Mike Garrett RAA]

We are seeing it with "half way houses" and "minimal correctional facilities" also. Private agency buys single family houses in residential neighborhoods and then houses "convicted felons" in lieu of sending them to prison. Part of the profit for the private agency is the equity built up in the residence. Neighbors are usually "up in arms" about it. Insuficient data to support an adjustment at this time.

 

[Mountain Man]

Aren't you glad you don't have that assignment?

Opps, you did it now. You had better check those address on the request very carefully the next few weeks, before you say Sure... We can handle it!

 

[Verne Hebert]

Jeff

You took only a part of the context. If you can sell your adjustment based upon you experience then do it. Occasionally I do this, after analyzing all data, based upon inferences, applications of a couple of special techniques, I gringe a little, and lay it into the report. Some times you have to do it (the warm fuzzy feeling), but I don't like to be in that postion. And you sure better be discussing the rack you are hanging you hat on!

The longer we appraise property it becomes more difficult to stay as dumb as the market. The market is dynamic due to social and economic changes and attitudes. We have to be careful when we consider an outcome based upon our past experiences in other situations, times, and markets.