For those reasons most of the foreclosed homes sell for nearly full market value…
One data point does not establish a trend but..
17xx Tara Way
San Marcos
Bought in July 2005 for $860,900 by realtor/speculator. Went on the market in September for $875-925k with no success. Foreclosed last month and just appeared as an REO on the MLS. Asking price of $818k.
The three competing listings on the same street are all asking anywhere from $860k to 1 million. Of course, these have window coverings and backyard landscaping so the comparison is limited.
Nevertheless, it’s selling at a $44k discount to a year ago.
