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In real estate, stigmatized property is property that buyers or tenants may shun for reasons that are unrelated to its physical condition or features. [1] These can include death of an occupant, [ 1 ] [ 2 ] murder , [ 1 ] [ 2 ] suicide , [ 2 ] previous illicit activities, and even the belief that a house is haunted .
Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESAs) when valuing a property for both private and commercial real estate. [17]
In the United States, an environmental site assessment is a report prepared for a real estate holding that identifies potential or existing environmental contamination liabilities. The analysis, often called an ESA , typically addresses both the underlying land as well as physical improvements to the property.
In 1962, "blockbusting" – real estate profiteering – was nationally exposed by The Saturday Evening Post with the article "Confessions of a Block-Buster," which explained how realtors gained profit by frightening white Americans to sell at a loss, in order to quickly resettle to racially segregated "better neighborhoods."
Economic impact analyses are often used to examine the consequences of economic development projects and efforts, such as real estate development, business openings and closures, and site selection projects. [14] The analyses can also help increase community support for these projects, as well as help obtain grants and tax incentives. [15]
An inner-London council is seeking to ban estate agents from placing ‘for sale’ signs on properties in the local area over fears that they cause “substantial harm to local character.”
Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...
Owners of commercial real estate benefited under the original rules of Proposition 13: If a corporation owning commercial property (such as a shopping mall) was sold or merged, but the property stayed technically deeded to the corporation, ownership of the property could effectively have changed without triggering Proposition 13's reassessment ...