No. Could be much less--.because it may-and very often is-purchased for much less than owed...once it is foreclosed on...
There is no set way to know what a default will sell for because it really depends on the neighborhood. In areas where there are many defaults they typically sell below market value. In areas that there are few defaults the houses are going at market value if they are in the same condition as surrounding houses.If you need more information please contact me,
Don Hickey 858-337-9396
Broker in Ca & Hawaii