Registered Sex Offenders Lower Neighboring Home Values By 9%, On Average

Ed: Now that's an unintended consequence! The voters overwhelmingly demanded the Registration and they got it. Now let them reap what they have sown!

Sex offenders.
Living in close proximity to a registered sex offender is one of the biggest downward drivers of home values. Researchers at Longwood University's College of Business & Economics conclude that the closer you live to a sex offender, the more your home will depreciate. In the paper, Estimating the Effect of Crime Risk on Property Values and Time on Market: Evidence from Megan's Law in Virginia, Longwoodresearchers say, "the presence of a registered sex offender living within one-tenth of a mile reduces home values by about 9%, and these same homes take as much as 10% longer to sell than homes not located near registered sex offenders."

Posted by David at 6/06/2011 05:36:00 PM

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2 comments:

Anonymous said...

This is an interesting claim because "Home Values" do not change, in fact they stay the same as before. The assessor's office does not change anything.

What we see is, real estate brokers manipulating the seller BEFORE the sale, brokers telling sellers their home will not reap the sales price they asked because of FSOs living nearby.

Like Politicians using sex offender fear, here we see Real Estate Brokers doing the same thing, but doing it BEFORE the home is put on the market.

ALL studies that claim FSOs cause lower home values are using sale prices after the broker manipulated it by instilling fear in the seller.

eAdvocate will be publishing a review of ALL of these studies, and will show where the real estate brokers admit they are telling sellers BEFORE the sale.

Its called undue influence and it began when the housing market flopped.

June 7, 2011 at 12:56 AM
David said...

I would say to that: property values are not determined by government assessors (only the property tax is) but by what buyers are willing to pay for a property and what seller's are willing to accept for that property. Buyers and sellers may choose to follow the advise of realtors or other interested parties or not. The choice is theirs. In this respect and in this example, distorting effects upon property valuation are entirely attributable to the public dissemination of the location of registered sex offenders, pure and simple.

June 7, 2011 at 5:49 PM

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