| Summary: | 碩士 === 長榮大學 === 高階管理碩士在職專班 === 100 === The main purpose of this study is to explore the factors influencing pricing strategies for foreclosure properties. Data gathered from two districts (Yingcon and East District) in Tainan were analyzed. The sampled data derived mostly from house foreclosure auctions during 2010 and 2011. Based on the hedonic price theory, the collected data were analyzed by the multiple regression analysis. Research findings reveal that out of the proposed eight factors determine property value of a foreclosure, six were found to be significantly influential in the study. These factors include the number of bidders, the number of foreclosed, check list, land area, building area and contiguous road.
In both areas, the average price for used houses was higher than auctioned houses during the sampled year. The phenomenon was more prevalent in East District since the price difference was higher than Yingcon District. The foreclosure property market does provide profiting opportunities for both property investors and house buyers. The present result shows that to increase the chance to win a bid, investors have to fill out a bidding form with a 30% higher price than the minimum bid for the auction when they participate in the bid. Research findings reveal that the average percentage of failed auction is around 16%. This implies that the enforcement price is far from the expectation of the auctioneers in the market. A certain percentage of people think that the floor price of the foreclosed houses is not reasonable. Therefore, the government should correct the flaws in the law system, and help people understand the bidding process of foreclosed houses and the corresponding high risk.
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