The Value of Foreclosed Property

Anthony Pennington-Cross

Journal of Real Estate Research, 2006, vol. 28, issue 2, 193-214

Abstract: 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.

Date: 2006
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Journal Article: The Value of Foreclosed Property (2006)
Working Paper: The value of foreclosed property (2004)
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DOI: 10.1080/10835547.2006.12091177

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