10 Best Places to Buy a Foreclosure in 2013
DAILY REAL ESTATE NEWS | THURSDAY, JANUARY 31, 2013
If you’re looking for big foreclosure deals, Florida may offer the most, according to a a new study by RealtyTrac. Palm Bay, Fla., topped its list of the best places to buy a foreclosure in 2013. Foreclosures accounted for nearly 24 percent of all sales in Palm Bay last year, and buyers tended to pay 28 percent less for a home in foreclosure than other homes.
The following are the markets with the high number of foreclosures available and some of the largest price discounts for foreclosures, according to RealtyTrac.
Palm Bay, Fla.
Average foreclosure discount: 28 percent
Rochester, N.Y.
Average foreclosure discount: 26 percent
Albany, N.Y.
Average foreclosure discount: 35 percent
New York City
Average foreclosure discount: 40 percent
Lakeland, Fla.
Average foreclosure discount: 15 percent
Tampa, Fla.
Average foreclosure discount: 27 percent
Jacksonville, Fla.
Average foreclosure discount: 32 percent
Poughkeepsie, N.Y.
Average foreclosure discount: 28 percent
Orlando, Fla.
Average foreclosure discount: 19 percent
Chicago
Average foreclosure discount: 46 percent
Source: “Best Places to Buy Foreclosures,” CNNMoney (Jan. 31, 2013)
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