In my opinion, a Home is only worth what someone will pay for it.
So Mary, ask yourself this.
If you were a buyer, how much would you pay, to live in a neighborhood with a sex offender?
Would you buy the same 3 bed 2 bath on the block with the offender or on the block without the offender?
Would you pay more to live on the block without the offender?
As William points out in will not matter to the appraiser, However to the educated buyer it will matter.
Personally, I would rather live in front of the expressway, under the power wires, next to the abandoned asbestos plant. Then have a sex offender as a Neighbor.