Coker Creek TN. cabin near Meth-Lab Bust sells for one third of appraised value.wmv

Rise in Crime affecting Real Estate market value. Monroe County TN. Clerk and Master Robert Pennington was not able to convince bidders at the Chancery Court Auction in Coker Creek TN. on Saturday April 10, 2010–that this log cabin on 1 & 1/3 acres was worth anywhere close to the appraised value of 141K. The property sold for 53K. While no specific research has been done to date on the impact of crime on property values in the Coker Creek TN community, the Chancery Court sale held onSaturday April 10, 2010 could send chills to anyone living in this small community. This video shows the bidders were not moved by the suggestion of what the property was supposedly worth. Not surprisingly and nearly unanimously, case studies on crime statistics conclude that crime tends to depress property values, although estimated magnitudes of incidence vary from study to study. The implications of these magnitudes are of particular importance from a public policy perspective, in relation to the elasticity of property values with respect to crime. www.youtube.com Individuals contemplating buying property may be interested in this to get an idea of whether or not they are overpaying based on housing characteristics, school quality, and crime rates. monroecountytn.blogspot.com
Video Rating: 0 / 5