photo credit: gilderic

Did you ever think you would ask the question which is better for my house value, bankruptcy, foreclosure, or death? When did we start thinking in terms like these? This economy really has done a number on most of us. I think most of us have been, or at least try to be, the glass is half full type of people, but all of a sudden we are lucky to have a glass at all, let alone have some water in it, so who cares how you describe it.

So, we get forced out of our house, and of course it would be helpful to sell before it's taken from us. So what devalues a property? Of course bankruptcies, foreclosures and even deaths cause a property to loose value, but which one has the least harmful effect? Harvard University, along with MIT studied what effects these three events have on a property.

Its a funny thing to study, but I suppose its good information to have. These days you never know whats going to happen so its good to be prepared for anything. The forced sale of a house is never a good thing to begin with, but which way would be most favorable, or less harmful, which ever way you want to look at it. Foreclosures are most harmful in neighborhoods that are low-priced to begin with, but foreclosures are actually the worst case scenario in any forced sale.

Read more about forced sales from RealtorMag.

Posted in Metro Brokers, Denver Colorado Real Estate, Real Estate Market Conditions, Real Estate Industry, Gen X-Y

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