Curt Cummings
11-29-2007, 05:23 AM
Hollow fellow appraisers
I am appraising a home that has had a recient suicide by one of the occupants of the home. Is there any statistics or market data available to support an adjustment for this? I am looking for hard data regarding a perentage range or dollar figure. It must be defensable and supportable.
Thanks
mikeyzee
12-04-2007, 02:58 PM
I thing the greater effect will be the possible suicide of the mortgage broker, when the lender will not close the deal, and use that as a condition!! They will come up with any excuse not to close a deal.
Robert Gonsalves
02-12-2008, 09:01 PM
The stigma is an intangible external adverse condition on the desirability of that property due to the association of death/sucide with that property that has diminished or reduced its good feeling as a place to live. This intangible adverse condition associating the property with death/suicide is psychological and curable but the best way to cure it is to reverse that association. There is no hard data available to this appraiser on market reaction to such places.
For example, have some nice people live there for a while so the property will be associated with nice, friendly people or change the composite of the structure like new paint, new improvement, demolishing, or anything that can change that association or create a new association.
-Just state the facts in the addendum along with comments on there not being any hard data on market reaction to such places