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(English) The Impact Foreclosures Have on House Prices

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8 comentarios
  1. Cheryl Sommerville
    Cheryl Sommerville Dice:

    Under normal situations I would have to totally agree with the above, but here in the Inland Empire we have anything but a normal situation. We have mostly short sales with a sprinkling of bank owned properties and here and there a standard sale. Most of the «standard sales» are investor flips. If an appraiser would try and value a property with mostly standard sales he/she would be hard pressed to adequately value the home. Short sales are selling for slightly less than REOs or standard sales ONLY because the buyer has to wait so long to actually receive an approval of the sale from the bank. Presently sales have slowed up quite a bit on all fronts as I believe we have «used up» last year our buyers that would normally be purchasing this year because of the «stimulus money». Subsequently we have seen another slight drop in values at the beginning of this year. Hopefully soon we will see our normal surge of buyers that want to purchase to close over the summer and that not only will help our real estate market, but our overall economy.

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  5. […] have often written on the impact foreclosures and short sales have on the value of the house next door. The Center for Responsible […]

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