Document Type
Article
Language
eng
Format of Original
22 p.
Publication Date
4-2006
Publisher
American Real Estate Society
Source Publication
Journal of Real Estate Research
Source ISSN
0896-5803
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.
Recommended Citation
Pennington-Cross, Anthony, "The Value of Foreclosed Property" (2006). Finance Faculty Research and Publications. 30.
https://epublications.marquette.edu/fin_fac/30
Comments
Published version. Journal of Real Estate Research, Vol. 28, No. 2 (April-June 2006): 193-214. Publisher Link. © 2006 American Real Estate Society. Used with permission.
Anthony Pennington-Cross was affiliated with the Federal Reserve Bank of St. Louis at the time of publication.