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.

Comments

Published version. Journal of Real Estate Research, Vol. 28, No. 2 (April-June 2006): 193-214. Publisher Link. © American Real Estate Society 2006. Used with permission.

Anthony Pennington-Cross was affiliated with the Federal Reserve Bank of St. Louis at the time of publication.

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