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Scripps College News News Releases Academics In the Media: Stacey Wood Discusses Home-Buying Scams in NextAdvisor

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April 13, 2022

In the Media: Stacey Wood Discusses Home-Buying Scams in NextAdvisor

  • Academics
  • Faculty
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Portrait of Stacey Wood, Molly Mason Jones Chair in Psychology and professor of psychology at Scripps College in Claremont, California

Stacey Wood, Molly Mason Jones Chair in Psychology and professor of psychology, discussed the prevalence of home-buying solicitation scams with NextAdvisor, a financial advice publication produced in partnership with TIME magazine. Wood has seen a number of these scams in her investigations of elder abuse and exploitation cases. Many of these scams, she explains, target homeowners who aren’t aware what their homes are worth, offering a purchase price that’s under value. She urges homeowners to be wary of buyers who want to purchase a home that isn’t already on the market. “There’s such demand in my town for housing stock that the only reason I would consider a [for] sale by owner is to make more money, not to make less,” she says.

Tags

  • Department of Psychology
  • Fraud
  • Molly Mason Jones Chair in Psychology
  • Newsroom
  • NextAdvisor
  • Scams
  • Stacey Wood
  • Time Magazine
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