Google+
  • Ocwen39.01-0.20 -0.51%
  • Zillow95.75+1.71 +1.82%
  • Trulia31.90+0.48 +1.53%
  • NationStar32.18-0.29 -0.89%
  • CoreLogic28.57+0.11 +0.39%
  • RE/MAX27.97-0.03 -0.11%
  • Fannie Mae3.82+0.01 +0.26%
  • Freddie Mac3.82-0.01 -0.26%
  • Wells Fargo48.93-0.16 -0.33%
  • CitiMortgage48.22+0.04 +0.08%
  • Bank of America16.15+0.02 +0.12%
  • Auction.com0.00N/A N/A
  • Fidelity National Financial31.29-0.33 -1.04%
  • Black Knight Financial0.00N/A N/A
  • AUDUSD=X0.9327N/A N/A
  • USDJPY=X102.425N/A N/A
  • WP Stock Ticker
To show sotck chart
Home | News | Foreclosure | Ten States with the Biggest Foreclosure Discounts: RealtyTrac
Hudson & Marshall
Print This Post Print This Post

Ten States with the Biggest Foreclosure Discounts: RealtyTrac

Ten States with the Biggest Foreclosure Discounts: RealtyTrac

While ""RealtyTrac"":http://www.realtytrac.com/home/ found that the nationwide average for foreclosure discounts is 31.74 percent, there are some states that are much more generous.

[IMAGE]

Foreclosure discounts include homes in foreclosure or properties that are bank-owned. Even though foreclosures provide an opportunity to purchase properties at a lower price compared to non-foreclosures, RealtyTrac found that foreclosure prices are actually increasing. With the average foreclosure sales price at $170,040, prices are up 6 percent on a quarterly basis and up 7 percent yearly. The annual increase was the biggest since the fourth quarter of 2006.

[COLUMN_BREAK]

That being said, here are the states with the biggest foreclosure discounts, along with their average foreclosure sales price, according to RealtyTrac findings.

1. Massachusetts (47.09%) ($193,993)
2. Kentucky (46.33%) ($85,863)
3. Connecticut (45.40%) ($173,022)
4. Rhode Island (43.97%) ($123,648)
5. Ohio (43.01%) ($75,797)
6. Louisiana (41.99%) ($107,239)
7. Delaware (41.93%) ($132,142)
8. Illinois (41.09%) ($130,454)
9. California (41.05%) ($248,676)
10. Georgia (40.07%) ($104,561)

RealtyTrac also looked at foreclosure trends in metro areas and found that in Modesto, California, 57 percent of sales were foreclosure-related, the highest percentage among the nation's 100 largest metros.

Six other metros in California were among the top 10 for their high percentages, including Stockton (54 percent), Riverside-San Bernardino-Ontario (47 percent), Bakersfield (46 percent), Sacramento (45 percent), Fresno (44 percent), and Oxnard-Thousand Oaks-Ventura (39 percent).

Other metros in top ten were Las Vegas (45 percent), Atlanta (45 percent), and Detroit (39 percent).

Hudson & Marshall

About Esther Cho

This user has not filled out their bio!

Leave a Reply

Scroll To Top