Does a past foreclosure affect the property value of a home?

For example, two identical properties are for sale but one was bought at foreclosure 5 years in the past. Is this pretty valued less than the identical property that has never been bought in foreclosure?
(0) | asked by: John Hysell | share | 2 months ago | Report
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answer by Ana Ordonez    |   Visit My Website   |   Contact Me
It should not affect the value of the property specially after 5 years. Comparable sales are good for 90 days only for appraisal purposes.
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answer by Bethany Cornelison    |   Visit My Website   |   Contact Me
How you aquired the property or what you paid for it 5 years ago does not impact the current value of the property. The current value is based on the recent comparables as well as the upgrades, features and condition of the home.
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answer by Manfred Lewis    |   Visit My Website   |   Contact Me
no should not, Appraiser look for comps within 6 months not 5 years
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answer by Gloria Bumanglag    |   Visit My Website   |   Contact Me
When doing a property home value report, we will take the last Sold homes in the last 180 days (6 months) within half mile of the property, comparing the size, model and features of the home. Appraisers will also add active and homes in escrow when preparing their appraisal report.
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answer by Jeannine Webb    |   Contact Me
Appraisers only look at sales that occurred within the past 6 months or less assuming their are comparable properties.
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