At first glance, reducing a price may seem counter-intuitive to protecting property values in the neighborhood or community.
However, if a property is on the brink of foreclosure, it is best to get the property sold at a reduced price rather than the property being reduced even further as a bank-owned property.
The property featured in this post is on the same block where we ourselves live. Do we care about property values on our block?
An emphatic YES!
READ HERE for an earlier post about the disparity between short sale values vs. foreclosed property values.