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Interesting FL Case

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Non Sequitur

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Louisiana
http://www.sptimes.com/2008/01/21/Hillsborough/For_sale__4_bed__35_b.shtml

What a great case study this will be 10yrs from now. If I were in the market I'd follow this closely.

"Whatever it takes to restore the house will be done at the city's expense," he said.
This quote makes it even more interesting. Per the article the slab has been dug through at various points. Boy I'd hate to estimate the cost to fix this mess. What makes this cool from an appraisal case point of view is not only the market reaction of the well publicized murder/death but the added stigma in relation to the investigators digging holes in the foyer. Then add a declining market..wow.

Now put all of that on a 1004 for an AMC at $175.
 

xmtpedprl

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We did the sale appraisal of a home that had a multiple homicide in Matteson, Illinois. If you're from Chicago or thereabouts you'd remember this one. Brutal.

Anyway, and oddly enough, that home *barely* sold below the market value of other homes like it, I mean, a minor hit relative to the event. They really cleaned it up, looked great, in fact, brand new.

We made dang sure it was in the report so no one could blame us later on. The whole story, links to video & web articles, the whole shebang. Didn't seem to make any difference, so it just goes to show you can never know for sure with the whole stigma thing.

Dave...
 

Mike Kennedy

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New York
:new_smile-l: nah ..........2055Ext $50. or a "compcheck" desktop for $25. no problemo .......... after all either may be "sufficient for the needs of the Client" . m2:
 

Mztk1

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Florida
This thread came in handy. Just did an appraisal where one of my comps was adjusted about 10% less than the others. Needed to know why and I called. Turned out there was a murder/suicide in the property just before the sale.
 

Dennis J. Black ASA IFAS

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Florida
Extraordinary Assumption

Being from New Jersey originally I can tell you that "No bodies under slab" is an ordinary assumption.
 

Ms. Janet

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Florida

Mztk1

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Dec 3, 2006
Professional Status
Certified Residential Appraiser
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Florida
Being from New Jersey originally I can tell you that "No bodies under slab" is an ordinary assumption.

I think you mean hypothetical condition. Or else you be from South Jersey.
 

Dennis J. Black ASA IFAS

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Mar 5, 2002
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Certified General Appraiser
State
Florida
No its an ordinary assumption because we don't know if it is true and it applies in all cases.

Hypothetical would be that I knew a body was there and I pretended it was not, and rule #1 is "What body?"

exit 91
 
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