What term describes a property that is affected by events such as crime or personal tragedy?

Study for the 75 Hour Broker Pre Licensing Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The term that describes a property impacted by events such as crime or personal tragedy is "stigmatized property." This concept refers to real estate that has experienced negative public perception due to its history or prior events, which can include things like a crime occurring on the premises, a traumatic incident, or even locally known issues that might make potential buyers wary.

Stigmatization often does not affect the physical condition of the property but instead involves societal views that can influence desirability and market value. For example, properties where a violent crime occurred may have difficulty selling due to lingering negative feelings or perceptions in the community, regardless of their actual physical state.

In contrast, a dilapidated property refers to one that is in disrepair or needs significant repairs, which affects its condition rather than public perception. Contaminated property refers to land that has harmful substances, often requiring remediation efforts. Historic property denotes buildings or sites that have historical significance, which does not pertain to negative events affecting perception. Thus, "stigmatized property" captures the essence of properties impacted by unfortunate occurrences in a way that influences public perception and value.

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