Could Rumors Lead To A Decline In Value Of Your Property?

[Good-Guy]

Rumors refer to any kind of information about something that could be true or false. Rumors are something that cannot be prevented when someone spreads it and tries to do a lot of effort to spread it. Unfortunately, spreading rumors is something that is much common in the real estate business. Rumors related to a property could can get spread in the market when someone spreads some information without verifying it and it is also propagated by other people without even knowing the authenticity of the information. For example, someone could spread information like your house is haunted or house is illegal.

Someone could spread any such kind of information about your property in order to devalue your property. Some people could even claim that your property is disputed or there is some sort of legal issues associated with your property. Even though people might spread rumors, I believe that such people might have some sort of motives behind doing this. I think people might do this out of jealousy or there might be some sort of financial motives involved with this. So, how would you deal with rumors if some people start spreading such kind of rumors about your property?

 

[Alexandoy]

We bought our home in 2001. After some years one government in the department that deals with earthquake issued a declaration that there is a fault line in that crossed the nearby town. Since our town is near the so called fault line there was an effect. To make matters worse, that same official issued another statement that a big earthquake may hit us. When asked for details the official said that the earthquake can happen now or within 400 years. Isn't that insane? Until now that official is still the head of that government department.

With that declaration the value of property in our town seemed to have stagnated a bit. You know, people they easily believe but they are also quick in disbelieving. After a year everything went back to normal because people realize that the big earthquake can happen within 400 years. That waS the crazy declaration that somehow affected the real estate in our town.