Once the bank owns subject, Bank will have several Brokers do BPO on the property. This will give the bank some range of what the house might sell for in the current and future market, as least a well as brokers can tell. They do this by looking at recent sales and current listing of like kind properties in the area, adjusting prices for any and all differences of the comps. How much they have lost is not (should not) be a factor in
judging how much they might get for the property. They should live in the present.