HOW DID YOU GET INVOLVED WITH THE SALES OF THE JONBENET RAMSEY HOME, HEAVEN'S GATE MANSION AND NICOLE BROWN SIMPSON'S CONDO?

I specialize in "Real Estate Damage Economics" and wrote a text book called "Real Estate Damages" which discusses crime-impacted properties, along with many other issues. Also, I have taught seminars all over the country to various real estate professionals. Most of my work involves environmental contamination or other detrimental condition. For example, I worked on the World Trade Center, Hurricane Katrina, the Flight 93 Crash Site and Nuclear Test Sites on the Bikini Atoll, but I have also been called in on a number of crime scenes.

With the crime scenes, generally, I get a phone call from a local broker,

attorney, appraiser or property owner of a crime scene property. While every disaster has emotional issues, they also have practical issues as well. I am called to determine the impact that crime scene "stigma" has on the value of the homes.

HOW MUCH IS THE SALE PRICE AFFECTED TO A HOME WHERE A MURDER OCCURRED?

There are extremes. The Lizzie Borden home in Massachusetts has made money related to the crimes. And by the way, this is a fascinating property. Other properties are a complete loss, and it is difficult to give them away. The McDonald’s property in San Diego was an example of that. Each case must be studied individually and can range from no loss to a complete loss, but generally speaking the losses are in the 10% to 20% range. Over time, this loss can diminish or even go away altogether.

I NOTICED THAT THE ADDRESSES OF THE CRIME SCENE HOMES ARE CHANGED. DOES THAT HELP WITH THE SALE?

Changing the address can help, but the timing must be right. The Heaven's Gate Mansion street name was changed, but it was soon after the incident, and it only served to stir up the media some more. My advice is that if your going to do it, wait awhile before you do it. Ultimately, changing the address can help distance the property from the incident somewhat.

ARE THE HOMES RENOVATED BEFORE BEING PUT ON THE MARKET?

Sometimes the properties are renovated, and sometimes they are not. And other times they are bulldozed altogether. For example, the Heaven's Gate Mansion was bulldozed completely, as was the McDonald's property, the Megan's Law property, the Dahmer property and others. The Menendez property's living room was renovated.

DO PROSPECTIVE BUYERS KNOW THAT THEIR HOMES WILL ALWAYS BE A TOURIST ATTRACTION?

They should know it, but sometimes they try and ignore this fact. If

anyone buys this type of property, they should expect some level of

continued interest, especially in areas like Los Angeles where we already get a lot of tourists.

AND FINALLY, HOW MUCH DID THE HOMES MENTIONED IN THE FIRST QUESTION SELL FOR?

There have been multiple sales and resale's of these properties. Generally, as years go by, these types of crime properties return to a

normal price level. Life moves on!

Randall Bell “specializes in real estate damage economics and valuation,” according to his website, www.realestatedamages.com, and he has been hired to consult on homes where high-profile crimes have occurred. He spoke about his fascinating job with Crimejunkies...