Posted on 05/15/2008 5:14:32 PM PDT by Monk Dimittis
The Real Estate Adviser on Bankrate.com has answered an important question from a reader: Does a registered sex offender living in your neighborhood affect your home's value? The unfortunate answer is "yes."
One study found that a sex offender within one-tenth of a mile of your home makes your house sell for about 17% less than comparable homes without a sex offender in the neighborhood. If a sex offender is within two-tenths or three-tenths of a mile from your home, expect a 9% to 10% lower sales price. A separate study found that homes within one-tenth of a mile of a sex offender only sold for 4% less than comparable homes.
Even though there is a range of numbers presented, it's clear that the presence of a registered sex offender in your neighborhood will have an impact on the sale price of your home. It's no wonder. What parent would buy a house in close proximity to a registered sex offender? For most parents, that's too big a risk to take when you know your child will want to play outside during summer.
This is a good time to remind buyers to check registries to see if a sex offender is living in the neighborhood you're considering. If you can't locate a registry, check with the local police station for guidance on sex offender registration. You want to make an informed choice before you buy a home for your family.
Hmmm.....
Time to sue some sex offenders.
Land speculators could use this information to their advantage.
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Send treats to the troops...
Great because you did it!
www.AnySoldier.com
Doh!
“One study found that a sex offender within one-tenth of a mile of your home makes your house sell for about 17% less than comparable homes without a sex offender in the neighborhood.
Are you guys really dumb enough to swallow this? If so, I’ll show you how smoking causes trailer parks.
This has been a point I have made on numerous occassions.
Let’s say a judge orders that a sex offender must place signs on his property alerting neighbors to his presence. This has happened before.
Say an immoral Real Estate broker (Lord knows there are plenty of those) decides to team up with the Sex Offender, and rents him property in a nice neighborhood. If I were doing this, the rent would be ‘free’ as I would propose a partnership. So, bright shiny neon signs go up all along the property saying “Convicted Child Molester living at this residence”.
What does property value do in the surrounding ‘x’ blocks do? You can’t sell your home for any price. Basically, innocent people who have to sell their homes will be forced to either take a fraction of the home’s value, or go bankrupt.
Meanwhile, immoral Real Estate Broker buys up the homes in the neighborhood at highly reduced prices. He then moves his Sex Offender partner to a nicer, more affluent neighborhood and while home prices plummet there, they rebound where the pervert used to live.
Mr. Immoral Real Estate Broker sells the homes he purchased in the old neighborhood, makes a financial killing and prepares to buy houses in the more affluent neighborhood.
There is nothing to prevent this sort of thing happening, heck it might be happening as I type this post. It’s perfectly legal, highly lucrative and there is nothing you can do to stop it from happening to you.
Wow, that’s a great idea... maybe ill do it!
Where can you buy a home without a sex offender living nearby?
If a Sex Offender is moving to your neighborhood, your home’s value is the last thing you should be worried about.
Interesting. Hm. Why is a judge's order even needed? They could do this anywhere. (I guess the order would provide "cover"...)
Or is that beyond your "scope of work?"
I can think of one solution, but I sure ain't gonna verbalize it. No, it does not involve the perps...
I am living this. A man one block up from me was recently convicted of an offense with a 16 year old boy, sentenced to ten year’s probation and listed as a moderate risk. Color all of us shocked. We had no clue. Somehow you think these people will have a ‘P’ for pervert stamped on their foreheads. His name and address now come up on the state registry. Two home sales in our subdivision have fallen through since he was registered. We are all sick on more than one level.
Thank you.
There. That wasn't so hard was it?
I got two cannibals and a necrophiliac living in MY neighborhood!
I must be better than you!
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