Everyone wants to insure the value of their personal real estate continues to grow at reasonable rates. There are hundreds of things that can affect real estate values. One thing that can change the value of your real estate in Ormond Louisiana is the crime level.
Crime Rates and Property Values
Although homeowners have control over some aspects of their property value, such as updates, maintenance, landscaping, paint and other aspects of the home, the local crime rate in Ormond may have more of an effect that all of the previously mentioned upgrades. In many instances, when a major, high profile crime happens in 70047 and makes the news, property values almost immediately go down. Over the course of time, if a crime rates spike in Ormond you will see a steady decrease in the local property values.
Perception vs Crime Rates
In some instances, the true crime rate in Ormond may stay unchanged, simply the fact that the news is reporting on local crime in Ormond can still bring a reduction to real estate property values. Perception of the crime rate in Ormond can play just as strong a role in home values as the actual crime rate. Most people are not aware of the actual crime statistics but simply take word of mouth and news reports to come up with their own idea of how bad the crime is in Ormond.
Does Low Crime Equal Increased Property Value?
It goes to reason that if the crime rate in Ormond is bad and negatively affecting property values, a low crime rate should increase property values. Although this may be true over the long term, simply the reputation of Ormond crime is actually more important. If the city of Ormond has recently hired new officers or increased police patrols in 70047 that will most likely not have the inverse affect of increasing property values. It can take years for a specific city, area or subdivsion to overcome the negative stigma of being “high crime”. In the most dramatic of examples, simply the fact that some media reports on an elevated police presence in Ormond could also lead to devaluing property values. Even with the lowering crime rate, the fact that additional police presence was needed is what the general public remembers.
Where Do Real Crime Rates Come From?
Crime statistics are derived from a variety of places. In addition, several methods for measuring crime are used. This can cause some confusion in the actual crime rate. The most widely accepted method for collecting data on crime in Ormond is from law enforcement reports. When a crime takes place in Ormond and the police are called to a scene, a report is filled out. Those reports get tallied and organized by the offense. In Ormond, we even categorize crime reports by violent crimes or non-violent crimes. Although major offenses such as homicide and armed robbery make the news and get tallied more accurately, lesser crimes sometimes go unreported and undocumented.