Effect of Foreclosure Status on Residential Selling Price

Fred A. Forgey, Ronald C. Rutherford and Michael L. VanBuskirk
Additional contact information
Fred A. Forgey: Finance Department College of Business Administration The University of Texas at Austin Austin, Texas 78712-1179, http://www.cob.fsu.edu/rmi/
Ronald C. Rutherford: Finance and Real Estate Department College of Business Administration The University of Texas at Arlington Arlington, Texas 76019-0449, http://www2.uta.edu/finance/
Michael L. VanBuskirk: Zimmer Corporation Kansas City, Missouri 64141, http://www.kogod.american.edu/

Journal of Real Estate Research, 1994, vol. 9, issue 3, pages 313-318

Abstract: Real estate professionals believe that foreclosed houses sell at a discount. This article empirically investigates whether foreclosed houses sell at a discount. A sample of 2,482 residential transactions in Arlington, Texas, is used in a hedonic pricing model to test this hypothesis. The results indicate that foreclosed properties sold at a 23% discount.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1994
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