Property Details
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Located at 731 Spencer Street in Ferndale, Michigan, this property is a residential home built in 1927. It is situated in Hugo Scherer's Subdivision and consists of two lots, 198 and 199, with a half of a vacated alley adjacent to the property. The home has 3 bedrooms, 2 bathrooms, and 6 rooms total, with a total living space of 1722 square feet. The lot size is 8276 square feet with dimensions of 70 feet wide and 118 feet deep. The property was last sold for $310,000 in 2022 and has a current assessed value of $175,970 with a market value of $351,940.
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In most states, the history of a loss of life in a home, no matter how it occurred, even violently, is not considered a "Material Fact" and it's not required to be disclosed. This history depending on the event, can decrease the home's value by 25% and increase its time to sell by up to 50% longer than comparable homes. Properties with such a history are referred to as Stigmatized Properties.Would you want to know stigmatized history of the property before you sign the contract?
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