The value of foreclosed property
By: by Anthony Pennington-Cross.
Series: Working paper ;; 2004-022A; Working paper (Federal Reserve Bank of St. Louis : Online) ;; 2004-022A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2004
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Real property -- Valuation.; Foreclosure.
Description: "This paper examines the expected price appreciation of distressed property and compares it to the prevailing metropolitan area appreciation rate.  The results show that the simple fact that the property is foreclosed indicates that it will be sold at a substantial discount (appreciate less than expected).  The magnitude of the discount is sensitive to loan characteristics, legal restrictions, housing market conditions, and the bargaining position of the selling institution"--Federal Reserve Bank of St. Louis web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 10/27/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.