The Effect of Foreclosures on Nearby Housing Prices

By
Services for Real Estate Pros with Zillow

What impact does that nearby foreclosure have on your home's value? I am asked this question all the time by anxious homeowners, and it has always been hard to give a reliable answer. But now we finally have some good research on this, courtesy of the Cleveland Fed. According to this paper by Daniel Hartley, a nearby foreclosure will decrease a home's value by between 1.6% and 2% depending upon the specific situation.

 

Effect of Foreclosures on Nearby Housing Prices
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Comments (1)

Henry Pailles
Chula Vista Realtor,Short sale,Eastlake Real estate,Realtor - Chula Vista, CA
San Diego Real Estate, San Diego Realtor, Chula Vista Real Estate

Wow!, you can't get any more technical than this, Iguess..

Oct 04, 2010 08:08 AM