The fact that the property is a foreclosure is considered during the appraisal of your property. So, as long as other sales, of like properties, are higher, there will be 'little039; affect on the appraised value of your property.
You do however, need to consider if there are many foreclosues in your area. The area may be considered declining in value and as a result there will be an indirect affect on the value of your property.
Clear as mud ...right? Let me draw a parallel; one bad apple, does not mean all the apples in the basket are rotten. However, a basket of rotten apples will make your shinny new apple suspect and affect the risk a bank (or appraiser) is willing to take. Make sense now?
Brian McGreevy, Broke/Owner
Sarasota Home Realty... more