Conventional wisdom wrong, foreclosures don't reduced neighborhood values
By golfplan18 Follow Mon, 13 Aug 2012, 7:18am 378 views 2 comments
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I didn't see enough data to convince me.
When resales, short sales & foreclosures sell for significantly less than similar homes, it should have some effect on other home prices if agents & appraisers do a fair comparison.
Let's don't include the cheapie in our comps , nobody will know the difference.
If a buyer knows that a similar house sold for much less they would have the info to maybe not offer as much as they possibly would have.
Buyers beware of smoke & mirrors.