Thursday, March 28, 2013

Best places to buy foreclosures

http://money.cnn.com/2013/03/08/real_estate/foreclosure-sales/index.html


The average discount on homes sold in a foreclosure was 39% below conventional sale prices during the fourth quarter, according to RealtyTrac.
NEW YORK (CNNMoney)

Shoppers willing to buy homes sold in foreclosures or short sales are nabbing them at deep discounts, especially if they know where to look.

Nationwide, the average discount on homes sold in a foreclosure was 39% below conventional sale prices during the fourth quarter, while prices on homes sold in a short sale averaged 23% below market, according to RealtyTrac, the online marketer of foreclosed properties.

Best foreclosure markets
City Median foreclosure price Discount
Cleveland $57,592 56%
Dayton, Ohio $50,679 57%
Charlotte, N.C. $111,260 43%
Columbus, Ohio $87,994 48%
Palm Bay, Fla. $87,018 39%
Winton-Salem, N.C. $72,356 49%
Daytona Beach, Fla. $88,012 33%
Canton, Ohio $57,339 48%
Greensboro, N.C. $85,333 40%
Pensacola, Fla $100,825 33%

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