Posts Tagged ‘Happy’

Haunted Houses

November 1, 2016

Spooky OOky Homes. I was looking around to see where I might find haunted houses in the area. I found several where gruesome murders had occurred. Since I am precluded by law from stigmatizing a property I will not, cannot discuss these homes. Or Haunted ones. Go online you will find them.

Per Realtor.com “Stigmatized properties are homes where a real or rumored event occurred that didn’t physically affect the property but could adversely impact its desirability.” That is where the courts have said that by disclosing such information will put a home in such an unfavorable light the value is adversely affected, price goes down. Both for a seller or a tenant. Some examples would include homes that are haunted, where murders have occurred and someone has died naturally or by suicide. Serious illness, such as aids, cult activity and famous adulteries are also considered stigmatizing. I say if you need to know, talk with the neighbors.

So, keep in mind, these things do not need disclosed. How about you? Could you live there? I think there is a buyer for every home. I also think someone would pay a premium for that opportunity. Not me mind you however there is always a buyer willing to buy, cost is always the issue. Time is also an issue. If the home was in the news it can take longer to sell. The mansion where the Manson Murders took place reportedly took 20 years to sell however it sold for market value. Hmmm I think I would rather have bought the Playboy Mansion. Of course, the Playboy Mansion was about 20 times the cost however it does come with Hef. According to a 2000 study from Wright State University of stigmatized homes, these home tend to sell for 3% below value and take 45% longer to sell.

It was fun looking at the homes and reading the stories behind the “haunting”. Some were gruesome murders, I would just as soon not read those stories in detail. For me the funny ones were the bars where patrons and staff had seen visions. Could be the drink I think. Still makes me smile. Have a Happy Safe Halloween, Richie Rich

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Q3 Numbers and The Election

October 30, 2016

As always my statistics come from Intermountain MLS. Numbers look good here again however I think you will be surprised. So far for the year home prices are up only slightly more than 7%. Number of homes sold is up 8% compared to last year. Existing home sales are up 7.5% and new construction is up 43%. However prices are key. Residential resale prices are up 6.35% and new construction is flat at 1.62% up. People are buying new homes because they can’t find what they want, prices are flat in new construction because they have enough inventory. Basic inventory supply and demand rules are in effect.

So Rich, now what happens? We keep sailing along. Homes are still selling, prices are holding, in some price markets they are a dropping. Interest rates are stabile. I don’t think we will see any changes until the beginning of the new year.

But Rich, the election is coming. Correct historically speaking housing prices tend to drop after an election regardless of who wins. Prices tend to drop because people are uncertain of how things will go with a major change. This uncertainty freezes people and creates a wait and see attitude especially in major purchases. However we have quite an usual market coming out of the recession and still a shortage of inventory. I believe we will see a slight increase next year. Of course wait nine months and we will see. If you would like to see how your neighborhood did go to:

http://www.intermountainmls.com/statistics/Static.aspx  and take a look. Happy House Hunting, All the Best Richie Rich


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