Atlanta, GA – where even the REOs are average

Reo_condition

Was reading: “The Foreclosure Discount: Myth or Reality?” John P. Harding (University of Connecticut), Eric Rosenblatt (Fannie Mae) and Vincent W. Yao (Fannie Mae).

Image from Table 3 on page 39.

I'd like really to know how so few REOs are considered "poor/below average" and why there is such a discrepancy in the percentage distribution of ratings these four markets.

 
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