Acquisition and redevelopment of foreclosed properties by community organizations helps to mitigate the social impacts of foreclosures on neighborhoods and residents. Social impacts can be measured in a variety of ways: (a) Strategic value of foreclosed property locations (b) Averted lost value to proximate properties Models can estimate magnitudes of such effects to identify potential acquisition candidates and social impacts of alternative development strategies. Application of models to a local case study demonstrates how these measures can be used in practice.