Stigmatized properties are often hard to sell because many people are superstitious, further perpetuating the conceptual idea of stigmatized property. However, prospective buyers who are able to overlook the home’s tragedy may only pay a fraction of the asking price for such a property. The reduced price occurs because stigmatized properties often take longer to sell, which can result in a lower sale price when compared to similar non-stigmatized properties. This brief will address issues of law; situational variables such as neighborhood and racial characteristics; as well as provide relevant examples.
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