Foreclosed listings have become a prominent component of the national real estate market. The burgeoning mortgage crisis and resulting Wall Street meltdown have led to a long overdue return to rational credit standards, with fewer qualified buyers ensuring falling values in markets with surplus development. Resulting negative equities ensure that secured lenders will need independent valuation advice for the foreseeable future. The appraisal community must ensure that the established foreclosure report format fulfllis their clients' needs.
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