How do foreclosures affect property values?

Nasser Daneshvary, director of the Lied Institute for Real Estate Studies, explains the scientific formula that he has discovered regarding the toxic effects of foreclosures on neighborhoods in a recent sit-down with the Las Vegas Sun. Here’s the snip: “We know foreclosed homes sell for a discount, but what do they do to the neighborhood? [...]

Source: http://blog.foreclosure.com/2011/02/how-do-foreclosures-affect-property-values/

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