Hold on- I just got a refi, and in no way did crime stats become part of the
equation. They looked at the prices of surrounding property, and a crime
wave can't negatively impact the past values of previously sold properties.
Yes, they were part of the equation. They are reflected in the perception of those earlier buyers whose properties were "comp'ed." There was no "crime wave" when those properties were sold.
Sales of properties and a decline in sale prices typically lag true "crime waves" by six to 12 months.
If there is a true "crime wave," people will be less likely to buy in an area; sellers will be forced to lower their prices accordingly, and when you go to sell or refinance, you will discover that your "comps" are lower than the were before the "crime wave."
Your other points are valid, but not enough to make me not cry foul when
someone actively suggests we cover up what we all know to be a fact: there
has been a recent spate of crime (aka A CRIME WAVE) around here.
Has there been?
I have not seen any increase in crime in the past several years.
Quite the contrary, from my point of view, it has decreased significantly.
And have seen no crime take place in the past 60 days.
[Yes, I know you and I live on opposite sides of the 'hood ... but that's the whole point, as Tony pointed out, it's all relative.]
As for a recent spate of crime, I would suggest that crime statistics follow two patterns -- the movement of the student population and the weather. The "perps" know quite well that students, Freshmen especially, trust everyone and carry lots of valuables with them. Similarly, muggers, the flim-flam folk and like much prefer to "hang" in warm weather (like during the past month) than in cold weather like we are currently experiencing.
T.T.F.N. William H. Magill [EMAIL PROTECTED] [EMAIL PROTECTED] [EMAIL PROTECTED] [EMAIL PROTECTED]
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