Lin, Zhenguo; Rosenblatt, Eric; Yao, Vincent - In: The Journal of Real Estate Finance and Economics 38 (2009) 4, pp. 387-407
Previous studies have shown that foreclosure often results in vandalism, disinvestment and other negative spillover … comparables. We project that the spillover effect of a foreclosure on neighborhood property values depends on two factors: the … discount of foreclosure sale and the weight placed on the foreclosed property as a comparable in the valuation. The former is …