Effect of Foreclosure Status on Residential Selling Price
AbstractReal estate professionals believe that foreclosed houses sell at a discount. This article empirically investigates whether foreclosed houses sell at a discount. A sample of 2,482 residential transactions in Arlington, Texas, is used in a hedonic pricing model to test this hypothesis. The results indicate that foreclosed properties sold at a 23% discount.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 9 (1994)
Issue (Month): 3 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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