Zillow broke-down some interesting topics examining segmented foreclosure prices. There’s national foreclosure price discrepancies that deserves some consideration when evaluating a region’s viability for foreclosure opportunities. A region capable of producing a healthy inventory line and satisfying discount rates in today’s real-estate market could eventually lead to spectacular profits.
When similar homes were able to be compared with each other Pittsburgh numbers looked the most attractive with homes being sold at -27% of market value. Cleveland, Ohio was second with homes being sold at -25.8% below market value. Baltimore Maryland foreclosures were sold at -20.2% of market value and Cincinnati at -20%. Compared with the 7% national average, the leading cities that provide the biggest margin of savings is well…..unparalleled.
National Foreclosure Prices
Most investors see contemporary real-estate conditions as a buy-and-hold environment. Buy-and-holds represents a solid platform for capitalizing on the tendency to rent demographic that’s prevalent today in America. Which means profits will be long-term in scope, rather than instant profit generating techniques like fix and flips.
Surely a robust local economy filled with middle class jobs would be the best situation for a buy-and-hold investor, but, the difference between Pittsburgh and the national average is a whopping 20%, a number too large to be rendered insignificant. When compared to non-foreclosed homes foreclosures are generally lower-priced.The underlying factor that provokes thought is that this discount investing entails less risk-exposure if you’re able to find a replenishing renters pool.
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