How proximity to a cemetery effects resale value of the property?

Asked by Miker, Needham, MA Sun Aug 12, 2012

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Territory.c…, Agent, MA,
Mon Aug 13, 2012
Number one rule in Real Estate: location, location, location
So that pretty much answers your question.

Just make sure you pay fair market value for the property. That can be assessed by pulling similar properties that have sold in the surrounding streets. You may find in certain towns (with high demand) it doesn't have too much of an effect.

Here is every property actively for sale in Needham:
http://www.territory.com/search?search_string=NEEDHAM&mi…

Territory.com
Massachusetts Premier Buyer Brokerage
Web Reference:  http://territory.com/
0 votes
Christine Mo…, Agent, Wilbraham, MA
Mon Aug 13, 2012
I love when people ask this question. There are some people who hold their breath when passing a cemetary until they see a white house. Never heard that one until I did an open house at a home like you are describing. Personally I don't believe in that woo woo superstition but looking at graves all day makes you think too much about your time left here on earth. It is preferable to a home that is not kept up or a junk yard. These all detract from the value as much as a mountian or lake view adds.

You don't have to disclose in Mass if a place is "haunted" because there are no such things as ghosts. With billions of people on this earth with cell phone cameras maybe someone can prove me wrong, but it hasn't happened yet.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Sun Aug 12, 2012
When a market analysis is completed of homes in the neighborhood, ALL of the homes in the neighborhood are equally influenced by the same community attributes. The only exception will be those adjacent to the subject of concern. To repeat, this effect of the presence of a cemetery has already been factored into the values reflected in local sales.

Now, to more accurately address your question, compare communities of equivalent homes that are missing the cemetery. You will find it a interesting exercise, but very unlikely to reveal a 'adjustment factor' that is meaningful.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes
Wen Farina, Agent, Reading, MA
Sun Aug 12, 2012
How much did it affect it, in your opinion, when you bought it?, did you use the proximity to the cemetery as a negotiation tool to get a lower price? this is what some buyers will still do. Your best bet is to contact a few Brokers to do a CMA so that you can have a better idea as to the actual market value of your house. Then you will have a better idea as to what your selling point might be.
Wen - info@wenrealty.com
Web Reference:  http://www.wenrealty.com
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Sun Aug 12, 2012
Is it an asset? No, therefor it is not going to help your price point and you can't move it or hide it so the only other way around an objection is to adjust the price.
0 votes
Sandy Tobin, Agent, Needham, MA
Sun Aug 12, 2012
I have found that when listing a home within sight of a cemetery there are many people who won't consider looking at the house. In some cases it's cultural, in other cases it's superstition. I grew up near the Needham cemetery and spent time there with my friends. I always felt it was a very peaceful place. I always tell potential buyers that they have the quietest neighbors in town!

Does it affect the value? The fewer people who look at a home shrinks the buyer pool which could be construed as affecting the re-sale value. But priced right, every home will sell.
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