A recent study by two economists suggests that some banks are overvaluing properties making it impossible for homeowners to get mortgage modifications and in the end glutting the market with REOs. According to Thomas Fitzpatrick and Stephan Whitaker’s analysis of the Ohio real estate market there is currently a trend of overvaluing properties.
via www.psreos.com Blogs and Properties http://www.psreos.com/blogs/are-banks-overvaluing-reos-and-ruining-the-market.html
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