How do foreclosures affect property values?

Nasser Daneshvary, director of the Lied Institute for Real Estate Studies, explains the scientific formula that he has discovered regarding the toxic effects of foreclosures on neighborhoods in a recent sit-down with the Las Vegas Sun.

Here’s the snip:

“We know foreclosed homes sell for a discount, but what do they do to the neighborhood? We found out that the first few foreclosures have a big effect, and then five and six and seven don’t matter, and then eight, nine and 10 matter a lot. The negative effect on your value keeps declining until it reaches around 40 homes within a half a mile from you. You have lost 33 percent. More than that doesn’t matter.”

To search foreclosed homes near you and see them all on a map relative to your house click here.

Comments

  1. Dennis Jenkins says:

    There is a guy in Arlington TX matt Misczak that can help your property values stay better by avoiding foreclosure

  2. steve jones says:

    I have worked with Matt Miscak he is a great help.

  3. gail says:

    Matt Misczak is a Con Man! Please do your research before giving ANY money to a man like him! He put almost 100 homes in Land Trusts in the DFW area and MANY of those were foreclosed on. He collected rents from tenants and pocketed the money. He is trouble and has been since the days of Superior Real Estate Solutions, Texas Lease Houses, Valcom, etc. Search the Tarrant Appraisal District under previous owners. Also search the Bankruptcy Court records in Dallas around 2006, and also the Texas Real Estate Commission as he has outstanding suits against him for deceptive practices.
    Good Luck all…just do your homework! It is very easy to find a lot of information on this Con Man!

  4. gail says:

    DJ and SJ,

    Also, seeing that you are just someone who Matt has helped, please consider yourself lucky that he did not scam you too. I do not understand why you badger when you were helped. Please allow us that have been scammed voice our concern about Matt Misczak and we will let you bask in your glory that you were personally helped by Matt Misczak. I am actually happy for anyone that crosses paths with him and DOES NOT get scammed. I wish I was in that group as well.
    He is a con. Please, just do your due diligence before you hire Matt Misczak to do any “work” for you.
    I have facts that do not lie. Matt Misczak put homes in Land Trusts. He did this fraudulently. He rented these houses and collected rents that were supposed to go to the mortgage company. He did not do this and the original mortgage holders were dealt a blow when he filed bankruptcy and kept collecting rents but was failing to put the money toward the mortgage and all of these homes went into foreclosure. Now, even with his “own home” has been deeded to his wife, and she has just filed bankruptcy as well. Matt Misczak does not know how to do business right or fairly.
    You can easily search prior owners in the Tarrant Appraisal District. Prior owner Matt Misczak. Matt put the houses in Lane (house number) Trust, Landis (house number) Trust, Landry (house number), Orelos (house number) Trust. All facts are EASILY searchable. A SAMPLE of homes that Matt put into foreclosure are:
    8112 Amistad Ct, Fort Worth
    7440 Anderson Blvd, Fort Worth
    688 South Heights Dr, Crowley
    5348 Sonoma Dr, Fort Worth
    8744 Sumter Way, Fort Worth
    5700 Sundance Cir, Haltom City
    7213 Hightower St, Fort Worth
    11513 Pheasant Creek Dr, Fort Worth
    3841 Bandera Ranch Rd, Fort Worth
    1520 Heather Ln, Keller
    6001 Oak Hill Rd, Watauga
    1136 Beaverwood Ln, Crowley
    403 Horse Shoe Dr, Euless
    4916 Chaps Ave, Fort Worth
    5020 Glenscape Tr, Fort Worth
    6004 King William Dr, Arlington

    : 6400 Geneva Ln, Fort Worth

    6408 Geneva Ln, Fort Worth
    7408 Field Stone Dr, N Richland Hills
    4636 Keith Dr, Fort Worth
    4037 Manzinita St, Fort Worth
    2724 Mountain Lion Dr, Fort Worth
    9016 Saratoga Rd, Fort Worth
    9004 Golden Sunset Tr, Fort Worth
    8120 E Summer Trail Dr, Fort Worth
    6311 Royal Springs Dr, Arlington
    4920 Chaps Ave Fort Worth
    3732 Grantsville Dr
    5408 Jerri Ln, Haltom City
    7900 Hidden Brook Dr, Fort Worth

    Like I said before, Matt Misczak=CON!

    You say I am a former tenant that did not pay rent. I give you permission to put the address “out there” that I did not pay rent on.
    Please know that this is about Matt Misczak being a CON, a FRAUD, and a THIEF!

  5. gail says:

    Please know that Matt Misczak scams people out of their honest, hard-earned money.
    He is a fraud and a con!
    Please see all previous comments. There is some exceptional information there.
    Thank you!

  6. There’s no blood on the streets yet. Way to soon to be jumping in.

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