The Impact of Vacant, Tax-Delinquent, and Foreclosed Property on Sales Prices of Neighboring Homes

Posted under Resources on October 25, 2011

Stephan Whitaker and Thomas J. Fitzpatrick IV for the Federal Reserve Bank of Cleveland, studies the impact of vacancy, neglect associated with material property-tax delinquency, and foreclosures on the value of neighboring homes using parcel-level observations.

From the Federal Reserve Bank of Cleveland:

In this empirical analysis, we estimate the impact of vacancy, neglect associated with material property-tax delinquency, and foreclosures on the value of neighboring homes using parcel-level observations. To our knowledge, this is only the second study which estimates the impact of vacancy itself and the first to estimate the impact of tax-delinquent properties on neighboring home sales.

Click here down download a PDF file of the working paper.