The Value of Foreclosed Property

This paper examines the expected price appreciation of distressed property and compares it to the prevailing metropolitan area appreciation rate. Whether due to individual property or local area heterogeneity in appreciation, the results show that foreclosed property appreciates less than the area a...

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Bibliographic Details
Published inThe Journal of real estate research Vol. 28; no. 2; pp. 193 - 214
Main Author Pennington-Cross, Anthony
Format Journal Article
LanguageEnglish
Published Clemson The American Real Estate Society 01.04.2006
Taylor & Francis Ltd
Subjects
Appreciation
Arbitrage
Condominiums
Discounts
Efficient markets
Empirical tests
Estimates
Expected values
Foreclosure
Foreclosure sales
Foreclosures
Housing
Housing prices
Lenders
Loan rates
Loans
Mathematical models
Metropolitan areas
Mortgage loans
Neighborhoods
Postal codes
Price formation
Price indices
Property
Property ownership
Property values
Real estate market
Sales
Studies
U.S.A
United States > US
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Summary:This paper examines the expected price appreciation of distressed property and compares it to the prevailing metropolitan area appreciation rate. Whether due to individual property or local area heterogeneity in appreciation, the results show that foreclosed property appreciates less than the area average appreciation rate. The magnitude of the deviation is sensitive to loan characteristics, legal restrictions, housing market conditions and marketing time.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0896-5803
2691-1175
DOI:10.1080/10835547.2006.12091177