Appraisal Institute – Appraiser News Online

Real estate owned sales are reducing home prices by as much as 47 percent, according to a recent study conducted by Lender Processing Services Inc. The latest LPS Home Price Index showed that California, Michigan and Nevada, among other states, have been particularly hit hard, with REO sales not only lowering prices on non-REO sales, but also lowering the overall value of housing throughout each region’s market.

Appraisal Institute – Appraiser News Online.

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