10 States Where You Can Get Amazing Deals On Foreclosed Homes

foreclosure

Photo: Ethan Miller/Getty Images

188,780 properties received foreclosures filings in April, down 14 per cent from last year.  This was the lowest monthly figure since July 2007.But foreclosure activity increased in 11 of the 20 largest metros. “Rising foreclosure activity in many state and  local markets in April was masked at the national level by sizable decreases in  hard-hit foreclosure states like California, Arizona and Nevada,” said Brandon  Moore, CEO of RealtyTrac.

Foreclosed homes sell at sizable discounts to similar homes that aren’t foreclosed on and can provide a good buying opportunity.

We drew on RealtyTrac’s latest foreclosure report and identified the 10 states with the highest foreclosure savings rates in March. These savings were measured by comparing average sales prices with average foreclosure sales price.

Maryland

Foreclosure savings:
40%

Avg. foreclosure sales price:
$149,582

Worst county:
Prince George's County

1 in every 1,659 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

New Jersey

Foreclosure savings:
40%

Avg. foreclosure sales price:
$200,245

Worst county:
Cumberland

1 in every 1,842 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

California

Foreclosure savings:
41%

Avg. foreclosure sales price:
$245,068

Worst county:
Riverside

1 in every 351 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

Delaware

Foreclosure savings:
41%

Avg. foreclosure sales price:
$127,060

Worst county:
Kent

1 in every 2,148 housing units received a foreclosure filing in April 2012

Source: RealtyTrac


Ohio

Foreclosure savings:
41%

Avg. foreclosure sales price:
$67,356

Worst county:
Cuyahoga

1 in every 525 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

Oklahoma

Foreclosure savings:
44%

Avg. foreclosure sales price:
$80,750

Worst county:
Rogers

1 in every 1,288 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

Massachusetts

Foreclosure savings:
48%

Avg. foreclosure sales price:
$194,080

Worst county:
Plymouth

1 in every 887 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

Connecticut

Foreclosure savings:
49%

Avg. foreclosure sales price:
$155,858

Worst county:
Fairfield

1 in every 1,243 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

Louisiana

Foreclosure savings:
55%

Avg. foreclosure sales price:
$82,145

Worst county:
Saint Tammany

1 in every 1,178 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

Kentucky

Foreclosure savings:
59%

Avg. foreclosure sales price:
$64,527

Worst county:
Jefferson

1 in every 1,573 housing units received a foreclosure filing in April 2012

Source: RealtyTrac

But which American states have the highest foreclosure rate?

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