10 States Where You Can Get Incredible Deals On Foreclosed Homes

foreclosure, price reduced

Photo: AP Images

There’s a tidal wave of foreclosures coming in 2012, which is sure to push more foreclosed homes onto the auction block.These foreclosed homes sell at pretty impressive discounts to similar homes that weren’t foreclosed on.

RealtyTrac is out with its latest foreclosure report and has identified the 10 states that offer the highest foreclosure savings. These savings were measured by comparing average sales prices with average foreclosure sales price.

Here is a quick guide to the 10 states with the highest foreclosure savings for the month of February.

Ohio

Foreclosure savings:
34%

Avg. foreclosure sales price:
$68,658

1 in every 543 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

California

Foreclosure savings:
34%

Avg. foreclosure sales price:
$230,058

1 in every 283 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

Georgia

Foreclosure savings:
35%

Avg. foreclosure sales price:
$100,294

1 in every 331 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

New Jersey

Foreclosure savings:
37%

Avg. foreclosure sales price:
$200,906

1 in every 2,288 housing units received a foreclosure filing in February 2012

Source: RealtyTrac


Louisiana

Foreclosure savings:
40%

Avg. foreclosure sales price:
$102,038

1 in every 1,257 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

Illinois

Foreclosure savings:
40%

Avg. foreclosure sales price:
$117,683

1 in every 398 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

Delaware

Foreclosure savings:
41%

Avg. foreclosure sales price:
$110,676

1 in every 611 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

Wisconsin

Foreclosure savings:
41%

Avg. foreclosure sales price:

$103,150

1 in every 596 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

Massachusetts

Foreclosure savings:
43%

Avg. foreclosure sales price:
$201,385

1 in every 1,309 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

Pennsylvania

Foreclosure savings:
43%

Avg. foreclosure sales price:
$89,747

1 in every 1,239 housing units received a foreclosure filing in February 2012

Source: RealtyTrac

But which American states have the highest foreclosure rate?

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