Top 10 Cities to Buy Foreclosure Homes
You can still profit in real estate — here are good places to try
There are several benefits to buying a foreclosed home which includes purchasing it for less than it is worth. When deciding the best place to buy a foreclosed home you may want to consider the following cities since the value of the home is going up.
First place to look into is Charlotte, North Carolina. The rate of foreclosures in Charlotte is a little more than 1%. You can save more than $50,000 for homes that sell for more than $140,000. The worth of the home will only go up in value by the end of the year. Raleigh, North Carolina has less than a 1% foreclosure rate. You can save more than $35,000 for a home that costs over $190,000.
A home that sells for about $140,000 in Nashville, Tennessee can save you more than $40,000 after its foreclosure. Nashville has a .98% foreclosure rate. Knoxville isn’t as profitable but it is still one of the best places to invest your money into a home. A house that is selling for over $125,000 can save you more than $30,000.
San Antonio, Texas is another profitable place to buy a home. There’s about a 1% foreclosure rate and you can save more than $10,000 on a house that costs more than $140,000. Some other cities to look for a foreclosed house are Albuquerque, New Mexico and Seattle, Washington. These cities have the most promising increase in value to houses with an increasing possibility to purchase the foreclosed home for much less than it’s worth. Also take a look at homes in Indianapolis, Indiana and Oklahoma City, Oklahoma.
Foreclosures properties are available on Fizber.Foreclosure.com
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Very informative blog with a lot of figures. Foreclosure homes could be bought for far less than its actual price but still its out of reach of many. Glyphius is a product at throw away price to produce a lot of money. A must try goods.
The problem with most foreclosure homes is that they are “crap” and most buyers do not have the $$ to fix them up. Also, banks are being very restrictive on what can be in contract such as home is “as is” meaning you are exposing your buyer to a mess of issues should something come up with material condition(s). Lastly, a whole lot of financial institutions will not approve the financing/closing until repairs are completed – another bag of worms for the buyer. Still can be a good market for someone with cash – not for first time buyer in my opinion. But really have not seen that much price reduction in Virginia Beach for REO’s.
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