Date of Award

2009

Degree Type

Dissertation

Department

Urban Studies

First Advisor

Mikelbank, Brian

Subject Headings

Foreclosure -- United States, Foreclosure -- Ohio -- Cuyahoga County, Residential real estate -- Valuation -- United States, Residential real estate -- Valuation -- Ohio -- Cuyahoga County, Foreclosure, Property values

Abstract

This dissertation analyzes the impact that foreclosures have on neighboring property values. It focuses on foreclosures' impact based upon face blocks, not straight-line distances and it also incorporates time and the use of spatial statistics. Findings from this study show that properties in the foreclosure process longer have a greater negative impact on nearby property values than properties with more recent foreclosure filings. The first negative impact is not seen until a year after the filing. Therefore, policy responses need to be as swift as possible in preventing any negative impact on neighboring property values and should not focus on extending the length of time a property is in foreclosure

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