Previous research identifies a negative externality associated with mortgage foreclosures. Houses in the neighborhood surrounding a foreclosed property sell for less, all things being equal. This paper explores the effect of short sales on condominium prices in downtown San Diego, California....

The authors attempt to estimate the "coastal premium" - additional value conferred on a residence from being located near the coast - of single family homes in San Diego County, while controlling for other locational and structural characteristics. A previous investigation published in 2001 for...