本文之目的有二，第一為探討影響台中市房地產價格之因素，第二是評估銀行出售抵押不動產之價格與應有價格之差異。本文以迴歸式檢驗影響房地產價格之因素，並用來估計抵押品之應有價格，並與銀行實際出售抵押品之價格作比較，來衡量銀行是否高估或低估其標的物之價值。實證後發現，通貨膨脹率對房價有顯著影響；亦有證據顯示七期重劃區之房價高於其他地區；在房屋的類型及用途中，以透天、店舖及商業用途的房屋價格較高，房屋結構(鋼筋混凝土、鋼骨混凝土)亦對房價有顯著影響。此外，本文也發現銀行在出售抵押品時，大多低估其應有價值，且出售之損失亦隨著其應有價格愈高而增加。 The purpose of the study is twofold. The first is to explore factors that affect the prices of real estates in Taichung, Taiwan. The second is to evaluate the importance of relevant factors and then use the fitted value of the regression as the “imputed” price. The results show that prices of real estates are associated with inflation rate, location (the 7th urban planning area), types of houses (e.g., townhouse, apartments, and mansion), use of housing (commercial, office, and industrial uses), and building construction (i.e., RC, SC, and SRC). We also find that our sample bank sells default collateral buildings at lower prices than the imputed prices. This undervaluation is more serious when the imputed prices are high.