{"id":3009,"date":"2023-08-05T02:17:47","date_gmt":"2023-08-05T02:17:47","guid":{"rendered":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/08\/05\/will-the-suspect-in-the-gilgo-beach-serial-killings-hurt-home-prices-in-his-suburban-town\/"},"modified":"2023-08-05T02:17:47","modified_gmt":"2023-08-05T02:17:47","slug":"will-the-suspect-in-the-gilgo-beach-serial-killings-hurt-home-prices-in-his-suburban-town","status":"publish","type":"post","link":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/08\/05\/will-the-suspect-in-the-gilgo-beach-serial-killings-hurt-home-prices-in-his-suburban-town\/","title":{"rendered":"Will the Suspect in the Gilgo Beach Serial Killings Hurt Home Prices in His Suburban Town?"},"content":{"rendered":"

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Michael M. Santiago\/Getty Images<\/p>\n

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For years, the suspect in the Gilgo Beach serial killings avoided suspicion in the middle-class suburb on Long Island where he lived with his wife and two children. Now, architect Rex Heuermann<\/strong>\u2018s ramshackle, red ranch home<\/a> in Massapequa Park, NY, has become a local tourist attraction as residents grapple with the evil that lived among them undetected for years.<\/p>\n

Heuermann was charged last month in the killings of three women whose remains were discovered near Gilgo Beach in 2010. Though shocking, the murders aren\u2019t expected to taint Massapequa Park\u2019s real estate market, say experts. The women\u2019s bodies weren\u2019t discovered in the town, and the prime suspect is now in custody.<\/p>\n

\u201cThere\u2019s not going to be an influx of people selling. It\u2019s not going to affect home values,\u201d says local real estate agent\u00a0Charles Ferrara<\/strong>, of Weichert, Realtors\u2013Performance Homes. \u201cReal estate on Long Island is super hot right now. Massapequa Park is a pretty in-demand neighborhood.\u201d<\/p>\n

The town, about an hour\u2019s train ride from New York City, is known for its quaint downtown, family-friendly environment, and neighborhoods filled with single-family houses framed by manicured, green lawns. Locals described it as the kind of place where neighbors know one another.<\/p>\n

The median home list price in Massapequa Park was about $705,000 with homes selling within 19.5 days in June, according to the most recent Realtor.com\u00ae data.<\/p>\n

\u201cI don\u2019t see a negative impact,\u201d says local associate real estate broker Pina Bongiorno<\/strong>, with Coldwell Banker American Homes. \u201cPeople are still coming into the area.\u201d<\/p>\n

Heuermann pleaded not guilty to killing Melissa Barthelemy<\/strong>, Megan Waterman<\/strong>, and Amber Lynn Costello<\/strong>, whose remains were discovered along Gilgo Beach in 2010. The beach is not far from his home. He is also the prime suspect in the death of Maureen Brainard-Barnes<\/strong>. The women are known as the \u201cGilgo Four.\u201d<\/p>\n

The Netflix film \u201cLost Girls,\u201d released in 2020, was based on the murders.<\/p>\n

Many expect the house will become a local tourist attraction similar to the \u201cAmityville Horror\u201d house<\/a>, which is 3 miles away. People are now driving by Heuermann\u2019s house and attempting to take pictures.<\/p>\n

Police have been stationed outside so no one can loiter in front of it, says local real estate agent Deborah Munro<\/strong>, of Coldwell Banker American Homes.<\/p>\n

\u201cGiven its proximity to the \u2018Amityville Horror\u2019 house, I\u2019m sure that conspiracy theorists will speculate that the area is cursed,\u201d says real estate agent and true-crime podcaster Christina Van De Water<\/strong>. She\u2019s based in New Milford, CT, and co-hosts the \u201cREal Crime Podcast.\u201d \u201cFrankly, that is a lot of evil in one very small area. I don\u2019t know that I would be rushing to buy a house in town.\u201d<\/p>\n

What will happen to the suspect\u2019s home?<\/h2>\n

Heuermann\u2019s house will likely eventually go up for sale and real estate agents are already jockeying for the listing, say local agents. His wife filed for divorce last month, and his legal bills will need to get paid.<\/p>\n

Typically, stigmatized homes sell for a discount<\/a> of between 10% and 15% if a gruesome crime took place on the property. However, that\u2019s in a normal housing market, not one marred by the shortage of homes for sale.<\/p>\n

If any victims are found on the property, that could scare off potential buyers and lead to a lower sale price, notes Van De Water. She is not involved in any potential sale.<\/p>\n

\u201cGiven the current state of the market, I\u2019m certain they will find a buyer, but won\u2019t likely get top dollar for the listing,\u201d says Van De Water. \u201cIf the police uncover any souvenirs or trophies of the victims in the home, it will widen the gap between the prospective sale price and the current market value<\/a> for a nonstigmatized home.\u201d<\/p>\n

However, local agent Ferrera believes the stigma could wind up helping the house to sell quickly.<\/p>\n

\u201cIt\u2019s a novelty,\u201d he says. \u201cThere\u2019s somebody out there who wants it and wants to be able to tell the story behind it.\u201d<\/p>\n

The post Will the Suspect in the Gilgo Beach Serial Killings Hurt Home Prices in His Suburban Town?<\/a> appeared first on Real Estate News & Insights | realtor.com\u00ae<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Michael M. Santiago\/Getty Images For years, the suspect in the Gilgo Beach serial killings avoided suspicion in the middle-class suburb on Long Island where he lived with his wife and two children. Now, architect Rex Heuermann\u2018s ramshackle, red ranch home in Massapequa Park, NY, has become a local tourist attraction as residents grapple with the…Read More→<\/a><\/p>\n","protected":false},"author":0,"featured_media":3010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/3009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/comments?post=3009"}],"version-history":[{"count":0,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/3009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media\/3010"}],"wp:attachment":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media?parent=3009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/categories?post=3009"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/tags?post=3009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}