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Kirill Petrov
Kirill Petrov

Stigmatized Property | Free Download !!TOP!!

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Stigmatized Property | Free Download

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If you have ever thought about buying or renting a home and wondered about its history, consider the possibility that it could be a stigmatized home. Stigmatized property is a dwelling, a place of occupancy or residence, shunned for the occurrence of tragedy that weakens its market potential.

Real property is defined as building and land. There are no absolute standards for what potential buyers think is desirable real property. Whereas buyers are concerned with affordability, resale value, location and condition, architectural style, interior design and purpose, sellers are more concerned with market value, profit and price. When a property is stigmatized, it is neither desirable nor profitable regardless of style, location or condition. It may be affordable, but who wants it?

Violence is a product of human behavior. It is as much a part of human nature as life itself. When tragedy happens, we never think about real property and how value is affected. The impact can be astronomical. Whether a result of paranormal activity or death as a consequence of murder, a buyer is less likely to buy stigmatized property. The stigmas identified with property ending in illness, murder, trauma and death are vast and inclusive of suicide, HIV and AIDS, drug activity, criminal mischief, cult activity, kidnapping, pedophilia and psychiatric behavior. Most notable are cases involving mass murder, serial murder, and domestic violence. Shunned by most buyers and vacated by many sellers, stigmatized property presents both challenges and risks that often result in abandoned or demolished buildings, below market values, extended market time, and risk from potential liability.

Stigmatized property may or may not garner media attention, police involvement or a request for the coroner. Most events reported on the front page of the national news are less private and more common. When knowledge of stigmatized property is less common, caveat emptor - let the buyer beware. In other words, let the buyer exercise due diligence, discover his woes and get the property inspected.

Many states require the seller to provide the buyer a disclosure statement usually available before an offer is made. The statement may need to include facts not easily observed in a visual inspection. And while it is the seller's duty to avoid misrepresentation by omission (a failure to reveal known material facts, important facts that a reasonable person would not have known to affect price or the decision to purchase), it is the seller's responsibility to disclose what is known but not obvious to the trained eye. The seller may be required by law to disclose any pertinent facts about property stigmatized by murder, phenomena, suicide or criminal activity. And while disclosure requirements for stigmatized property vary from state to state, with few exceptions a seller may not disclose the presence of an occupant with HIV or AIDS, a protected class of the 1988 Fair Housing Amendment Act.

Let's look at another example of stigmatized property. Have you ever witnessed a crime scene on the evening news? In the aftermath of what seemed like a harrowing event, the reporter walks around, careful to avoid the crime scene tape as he is cautious to select his next interview. The lights are on but no one is home. The house is draped with yellow ribbon, and the victim lies still in a cotton white cloth nearby. In this case, you have witnessed the crime scene of a stigmatized home. One of the most sensational and notorious events to occur happened in 1994 on the premises of a property located 875 S. Bundy Drive in Brentwood, Los Angeles, California. The murder of Ron Goldman and Nicole Brown Simpson at her home on Bundy Drive shocked the world, gripped the nation and horrified the neighbors. For months, the community suffered through media attention and public scrutiny while others remained gripped in fear. The Brown family wanted the condo sold. Shortly after the murders, following extensive cleaning and remodeling, the condo finally sold two years later for $200,000 less than the purchase price Nicole Brown Simpson paid. After more extensive remodeling and a change of address, the condo sold for around $1.7 million in 2006. See what a difference an address change can make?

You might question whether stigmatized property can be desirable, or marketable, and when is it best destroyed? There are no absolute standards for what potential buyers think is desirable real property. The sale of Bundy Drive proves this. Stigmatized property regarded as less desirable to most buyers may still be potentially desirable. While they tend to be less desirable, there are ways to sell them and reasons for why they're destroyed.

The value of real property is based on personal opinion and fair market value, the highest price a buyer is willing to pay and the lowest price a seller is willing to accept. Whereas, market value is what a seller may expect or ask for real property. Value is best determined by comparing the appraised property to similar properties currently for sale (market value) and recently sold (fair market value) within a limited mile radius of the appraised property. Perception and market timing are the challenges of selling stigmatized property. Whereas a remodel can improve how a property is perceived, marketability is a matter of timing. When marketing stigmatized property, consider the old adage 'time heals all wounds.'

Even stigmatized property has buyer potential. Exceptions occur when a stigma is so atrocious, people want to forget. When this happens, the stigmatized property is destroyed. Look at The World's Fair Hotel, for example. Dubbed the 'Murder Castle,' the World's Fair Hotel was a grisly scene of torture, mayhem and murder. The property stood to remind the public of a stigma they wanted to forget. Destroying stigmatized property is a way people heal from tragedy.

By now, you know that stigmatized property is real property stigmatized by tragedy and that most stigmas identified with real property are a result of murder, illness or death. And while there are no absolute standards for what potential buyers think is desirable real property, most stigmatized properties are neither desirable nor profitable regardless of style, location or condition. So, marketing and disclosure are its challenges.

In the examination of stigmatized property, you learned the effects of human tragedy on property. While some people choose to sell stigmatized property, others choose to forget. In the case of the World's Fair Hotel, people chose to forget, and the property was secretly demolished, whereas others realized profit from the sale of Bundy Drive. From this lesson, you learned about value and that stigmatized property is marketable. The best way to market stigmatized property is to improve its market appeal, determine its fair market value, consider its market timing and disclose, disclose, disclose.

One of the keys in determining a stigmatized property is the potential impact someone may perceive upon learning of the event, whether buyer or renter. Additionally, some states mandate and define what stigmatizing events must be disclosed, whereas some states are on the other end of the spectrum, with no mandatory disclosures required for a stigmatizing event.

Whether you avoid such houses no matter the cost, or actually prefer the stigmatized house more than a normal one because of the price, today you and I are going to explore how to find out if a property in Japan comes with a dark history and we'll also try to uncover some tips to help you to either avoid or choose such a place.

Furthermore, if you are enthusiastically recommended a unit with phrases that sound as though the person is rushing to sell the place, such as "I've never seen such a good place", "I'd like to live here if I were you", or "It's so rare that such a place is available at this price", then you may want to think twice. Maybe it is too good to be true. Oh and by the way, if you are seeking a stigmatized property and don't mind being honest about that with the realtor, feel free to reveal that information right where you stand. In that case, no one would lie. They're probably having trouble selling the place and that might come at a relief to them. That being said, maybe you could say that out front and then catch them at their lie.

As for SUUMO, not only are they unafraid to reveal stigmatized property but they've also even attempted a new and unique approach to offloading stigmatized property. In a very positive way, they try to convince the potential renter that it's actually a great thing to live in a place where someone violently died! The following is what they wrote for the unit.

事故物件訳あり物件情報センター, or The Stigmatized Property Information Center, is another website on which you can find these properties, as well. Although they only cover the Tokyo, Kanagawa, Saitama, and Chiba areas, they actually focus solely on stigmatized property for their business, whereas SUUMO only partly deals with such properties. So if you are looking for such a place, you can search for an 'only stigmatized property' realtor.


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