Abstract
Examining Impacts of Mortgage Fraud and Foreclosures on Property Values
Track: Cadastral and Land Records
Author(s): Brooke Cholvin, Lori Krager, Rachel Parrinello
GIS technology enables local governments to better understand how their communities are affected by unstable economic conditions. One of the causes of the current economic downturn lies in questionable real estate practices. These irregular transactions sometimes involve mortgage fraud and often result in foreclosure of homes. In Colorado, county Assessors are responsible for tracking, analyzing, and modeling real estate sales to mass appraise all properties in the county for tax purposes. The Boulder County Assessor’s Office is taking a comprehensive look at the impact that higher foreclosure numbers and mortgage fraud have on the local real estate market. Using GIS, we identify neighborhoods that are foreclosure “hot spots” and/or have questionable sales. Employing both GIS and SPSS, we estimate, analyze and illustrate the effects these sales may have on mass-appraised property values. GIS is an essential tool for understanding real estate market patterns and producing more equitable property valuation.
Brooke Cholvin
Boulder County Assessor's Office
PO Box 471
Boulder , Colorado 80306
United States
Phone: 303-441-3523
E-mail: bcholvin@bouldercounty.org
Lori Krager
Boulder County Assessor's Office
PO Box 471
Boulder , Colorado 80306
United States
Phone: 303-441-3686
E-mail: lkrager@bouldercounty.org
Rachel Parrinello
Boulder County Assessor's Office
PO Box 471
Boulder , Colorado 80306
United States
Phone: 303-441-3518
E-mail: rparrinello@bouldercounty.org