Stigmatized property , and what’s my property really worth.

Well , today I hit the streets of Circleville , going door to door in hopes of just meeting people. Of course this has to do with my personal business, but I was asked a question that I hadn’t been asked before ,and it was quite interesting after I came home and did research.

I was told a particular area ( a very nice area , in my opinion) in Circleville was ‘cursed’. Now , this is a subdivision that I wanted to visit because the home sales were quite hot , and I felt it was a good opportunity to see what people think. So , after hearing that this particular street was stigmatized , that is has a bad history , or bad thoughts about it. The homeowner said he hadn’t ever seen any sales recently , and the only house he had seen never sold.

That’s where my quest began to find the truth about stigmatized properties. I loaded up my trusty sold data program and searched his particular subdivision….it came out with data along the lines of an average sales price of $190,000 per house (estimated) , with about 45% of the sales being over $210,000. Now , as a note , the average price of a house in circleville is $138,000. My special mapping program showed that the sales were quite evenly dispersed within the area. So , after picking the individual street that was in my area today , I found out , in fact there had been quite a good sale of a house recently , and only 1 house that had been listed without selling. In fact, the house that sold was about 30% under normal market time in our area, and for 50% over avg market price.

So , in ending , be careful about personal opinions on property ,and the idea of stigmatization , because it might just be wrong

As always , just E-Mail me if you have any questions , especially about Real Estate in our area!