RealtyStore (http://www.realtystore.com), the nation's leading provider of the broadest variety of real estate listings, found the median price of bank foreclosures for sale in six select states list at an average of nearly 50% below recent median existing-home sale prices.
Less than 2.5% of all mortgages in the country ran over 90-days past due at the end of March, 2014. Dramatic differences in the default level have been noted across the country's regions. While the far West (
Using these high default states as focal points, RealtyStore analyzed the price points on current standing inventory of REO listings across each state. Results show the median list prices in each state gravitate to the low end of the price spectrum. On a regional basis, the median REO list prices range from 41% to 62% below their median existing-home sales prices in April.
Although existing-home sales prices vary greatly across regions, these particular states display REO list prices low enough to suggest a material opportunity may exist for home buyers interested in migrating to lower cost markets or investing in low cost local real estate.
See the accompanying graph for additional illustration and details.
RealtyStore (http://www.realtystore.com), a division of
REO properties referenced herein have completed the foreclosure process with a recording date on or before the date of this press release. REOs have been repossessed by a bank, lending institution or government sponsored loan guarantor such as
Read the full story at http://www.prweb.com/releases/2014/05/prweb11899018.htm
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