The suspected Golden State Killer was arrested two weeks ago. This man is said to be responsible for more than 50 rapes and 12 murders throughout California. It’s crazy to think about the path of terror this monster blazed for so many years. Well, let’s talk about him, but from a real estate angle.
Take a Quick Survey: I thought it would be interesting to do a quick survey to gauge public perception. If the Golden State Killer’s house was listed for sale, what sort of price discount if any would you expect to see? Vote below or HERE, and I’ll publish results in two weeks.
Create your own user feedback survey
Real Estate History: It’s sobering to think that Joseph James DeAngelo, the accused killer (aka East Area Rapist), was pursuing the “American dream” of home ownership all while destroying people’s lives. Here’s a history of his real estate happenings:
- 1980: Bought a house for $77,000.
- 1993: Refinance
- 2003: Refinance
- 2012: Refinance
The Golden State Killer’s Neighborhood: If you wondered what homes are selling for in the accused killer’s neighborhood, here’s a graph. The neighborhood is a well-kept area of Citrus Heights. I’ve seen a few national media outlets report the alleged killer lives in a luxurious community, but that’s not true.
Dorothea Puente House: While we’re on the subject of mass-murderers in Sacramento, let’s talk about the duplex where seven bodies were discovered on F St in Sacramento in the late 80s compliments of Dorothea Puente. She lured victims to her “boarding” home, drugged and buried them, and then cashed their social security checks. This property has sold four times in the past, which is interesting as a case-study in terms of detrimental property conditions.
I look forward to more conversation in a couple of weeks. Thanks for voting in the survey above too. Fame and real estate can be complex and it’s definitely something to keep on the radar for this situation.
Questions: Would you buy this house? What advice would you give to a prospective buyer? I’d love to hear your take.
If you liked this post, subscribe by email (or RSS). Thanks for being here.
That is one sordid story!
Thanks Chris. It sure is. The details are horrific to say the least.
Yes- I wonder if the agent would even tell you if you didn’t ask.
I can’t imagine an agent would not disclose something like this. There may be a technical reason why disclosure is not needed, and I’d obviously defer to a lawyer or broker on what is necessary. But it seems like a huge liability not to disclose. There are different ways to disclose of course as some agents seem to do that privately and not necessarily on the listing itself. I would think most agents would want to be very clear about anything that could potentially come back as a lawsuit later. I can imagine a buyer saying, “You knew about a serial rapist and murderer who lived here? But you didn’t tell us?”
On a side note it can be tricky to find these types of comps at times because agents don’t often write “murder” in the listing. Sometimes agents will talk about the property’s history or an event that occurred there (and included a “Call for details”).
I recall one of the times when the Puente house was listed, the agent said something like, “Notorious history. Call for details.” I believe the agent actually posted a SacBee story too to help fully inform what happened.
On a side note, I am watching a property in a surrounding community where there was a terrible murder with torture inside the property. It’s still on the market and has been pending multiple times without closing. I only know about the situation because someone told me.
Wow Ryan, you come up with some interesting stuff. I once appraised a house that was pending where the killer was still on trial and the agent who I arranged the appointment with said she was afraid to meet me at the remote rural property. I took a body guard with me and was glad I did given what I saw.
Thanks Gary. Wow, you had me at “remote rural property.” I’m glad you had protection. Smart move there. I bet it was creepy.
professional bodygaurd or just a burly friend with a gun?
If a pro-how did you find them?
You are going to leave that hanging like that Gary?
Interesting topic. I was shocked that he had been living there in Sacramento this entire time they have been searching for him. I am interested in knowing the results of your survey. I personally would not want a house with this stigma but not everyone feels that way.
Thanks. I know. It’s crazy to think he has been local all this time. There is quite a stir over how the police found him with DNA. That’s definitely something to watch also. I’ll post the results in two weeks. Looking forward to it.
I think many people feel the same too. I’ve heard, “I wouldn’t buy the house at all” from quite a few people. When a property has a history, it can attract visitors to the site. Neighbors will definitely have stories to tell too. A person who buys a property like this has to keep those things in mind. Of course, the property may not even come to the market. We’ll see…
Even though as far as I know, no crimes occurred there, a stigma would still exist. I am not sure that the negative impact would be as great as some might think. I am sure you will keep us posted! Thanks!
At the least here we have a much smaller pool of buyers since many in the market would not purchase this house at all. We have a detrimental condition here to figure out. I’ll be curious to see how the survey comes out too. I’ve never done one like this before.
From what we know of the case, he just lived there. The crimes happened in other locations. I would want to assume that the “stigma discount” would be less drastic in that case. That is one difference from the boarding house killer.
BTW…the just-published book on this case is highly recommended. Gave me nightmares, but it is also beautifully written.
Thank you Corey. I appreciate your take. You are right that this could be far different if crimes were done on site. The more details we find out could certainly shape our opinion. Thank you for the book recommendation. The late author has a huge following. I do wonder if Sac PD read the book too.
I have don”t have data to back this, but:
I think in a seller’s market the discount would be small; maybe 10%, but still a discount.
In a buyer’s market, it would be higher.
I had friends in Florida that bought a hit man’s house after he went to jail. They told me that after I asked them if they noticed that some cars slowed down when passing the house and there seemed to be a high number of Lincolns. It didn’t bother them, but I didn’t stand in the front window after being told.
Thank you Paul. I appreciate you bringing that up. The dynamics of the market can make a difference for sure. We see the same thing with a busy street location or any other adverse issue. Some issues are probably a little more adverse so to speak in a market with a profound oversupply of homes compared to a market with really tight inventory.
That’s wild about the hit man. Smart move to stay away from the windows. 🙂
I think the home should be demolished and replaced by e.g. an income generating small memorial / fitness park replacing the value loss.
I like the idea of having something beneficial for the community. I’ve had several appraiser colleagues reach out to me over the past day to tell me about homes with issues where this has been done. Usually the heinous crimes occurred on site though. Let’s wait and see what happens… if anything. Thanks Tarah. I appreciate your take.
Thank you Ryan, I am looking forward to your invaluable tips on May 24th at our Productivity Committee Meeting.
Right on. I didn’t know you’d be there. I’m looking forward to the conversation. We’ll be talking about comp selection. Should be fun.
While I HATE that this situation exists, I LOVE this blog/analysis because this sort of terror happens more than we’d like to admit and it’s extremely important for any real estate professional to know how this type of information influences not only that particular home’s value/marketability, but also the neighboring homes and community in general. While I’m not a big fan of many California laws and regulations (having moved away from CA 2 years ago), I do believe the public disclosure of these types of facts/incidents is not only relevant to value, but necessary for the market/public to make informed decisions. I do not agree with some state’s laws PROHIBITING, or even not mandating this type of disclosure!!! Can you imagine buying this monster’s home without any kind of knowledge or disclosure, only for your neighbor to ask why you bought that monster’s home a week after closing?
Thank you Jacob. I appreciate your commentary and kind words very much. I did feel a bit conflicted about posting about this because it is so fresh and so full of emotion and heartache. It almost seemed superficial to start talking about real estate in the midst of this, yet it is something we need to think through. It’s frankly something everyone is talking about too, so why not formalize discussion a bit? I’m anxious to get to share results of this informal survey next week also and maybe fuel some more conversation on the topic.
I agree with you about disclosure. California gets many things wrong, but I appreciate disclosure though. I would guess most buyers would want to know. I would think despite technical disclosure laws in other parts of the country or even in California, that real estate agents would want to be clear about something notorious that happened on site. I just know as an appraiser I want to know as much as possible.
If no murder or unnatural death occurred at a house, I cant see a negative affect on value. There is also that subset of buyer who has a morbid fascination and would likely pay more due to notoriety.
If, however, some grisly event happened inside, i would anticipate a significant price drop, probably more than an REO or terrible condition issue would typically garner.
Local house had an event by chainsaw. It sold lower than typical but I think so few people knew that it would have no future effect on a 2nd generation sale.
Thanks Mark. I appreciate your take. Right now we just don’t know what happened inside. I can only imagine what a notorious rapist and murderer might have been doing inside, but that’s just my imagination. My big question is this, would that one atypical buyer represent the market? This property at best has a limited pool of buyers even willing to buy it. I really hope it comes to the market at some point so we can see. I hope the agent will be able and willing to share details too so we know the level of offers and such.
Do you remember the case a few years ago in Vallejo (on Mare Island) where the woman was kidnapped? It was referred to as the “gone girl” case when the Vallejo police publicly said she staged the kidnapping. Of course, it was later found out to be a real kidnapping. Anyway….less than 1 year after the kidnapping, the house sold in 2015 for a similar price as other similar houses with no stigma.
Follow up: This house also sold again in 2017 for a price that was similar to other similar sales. The kidnapping in this house was disclosed in both sales.
Thank you Michelle. I appreciate it. Very interesting to consider. Was this a house where she lived? Or was this a house where she was kidnapped? I can imagine there being a difference. Whatever the case, I think your comment underscores the reality there is a spectrum here. We might perceive some things as negative, when they really aren’t. In this case we have a property where one of the most notorious rapists ever lived. Will that matter? We shall see (maybe).
This was the house where she lived, where she was kidnapped, and where her fiance was tied up and left behind. This was the house where the break-in happened and where the crimes occurred. Her fiance was the owner of the house.
Thank you. I appreciate the info very much Michelle.