mark to market means revaluing the assets on a company's books...

mark to market means revaluing the assets on a company's books to reflect the current market. As an example, a building bought several years ago for $50m which would have initially be listed in company accounts as $50m may over the years have risen in value and been noted in accounts as worth $70m ($20m unrealized gain). If a major market event occurs, like now), that same asset may be worth $60m (or $45m) thus it would then be reflected in the company accounts as $60m having been 'marked to market'.

Thus I fail to see how mark to market would assist a property company in this current market, surely it would see millions wiped off the asset backing of the equities.

My take on the bounce in property stocks is that they'd been classically oversold.