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True. But while we don't know how much the house is under sales agreement for, it's almost certain, at anywhere near that asking price, much of the value has to do with its hocus pocus factor.
True. But while we don't know how much the house is under sales agreement for, it's almost certain, at anywhere near that asking price, much of the value has to do with its hocus pocus factor.
Of course. The asking price of $1.2 Million vs. the previous (2019) selling price of $439k does not reflect normal residential real estate appreciation. The current owners invested time and money into marketing this as the "Conjuring House" and listing price reflects what they perceive as the value of the product they created. The target buyer isn't your typical family of 4 looking for a nice home and some land. It'll likely be someone with an entrepreneurial spirit who intends to use it as an Airbnb, or possibly an affluent horror movie fan. I doubt that putting it on the market at the start of "Spooky Season" was an accident either.
The Lizzie Borden house in Fall River is comparable in some ways. It sold in April for $2 Million. The same home in the same condition in the same neighborhood likely goes for $400-500k at most without the marketability of Lizzie Borden. The Conjuring House, even in this relatively crazy real estate environment, is likely on the market for $500-600k without the history. We'll see what they actually end up selling for, but I bet it's close to asking price.
Or they found out that the local community was opposed to using it as an AirBNB/attraction. I think I read somewhere that there were issues with that with the previous owners.
Or they found out that the local community was opposed to using it as an AirBNB/attraction. I think I read somewhere that there were issues with that with the previous owners.
Towns & communities are rebelling against what a proliferation of Airbnbs are doing to the serenity of many residential neighborhoods. I know my town is in the middle of putting a strict short term rental ordinance in place. Especially strict on absentee property owners. It doesn't seem like something libertarian Burrillville would have the political will to do, but who knows?
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