Investors and other home buyers have been finding out that the time is right to purchase real estate properties in view of the foreclosure news and the declining home prices. The rate of foreclosures has slowed down but there are still a lot of foreclosed homes that are for sale and their prices are still dropping. The average sale prices of foreclosures in various states show that single-family homes, duplexes, triplexes and condos can be bought at bargain prices. Thus, real estate investors have become very much interested in foreclosed homes and many properties have multiple bids from various potential buyers f95zone.
Foreclosure news has revealed the availability of single-family homes in Ohio, Texas, Florida and Michigan at relatively low prices. Amazingly, some of the homes are being sold at prices that are only 50 percent of their original values. In Florida, single-family homes are available at the average value of $112,000, condos are available at the average selling price of $86,000, and duplexes and triplexes are being offered at the average value of $113,000. Meanwhile, single-family homes in Michigan have an average price of $61,000, duplexes and triplexes are being offered at the average value of $14,000, and condos are being marketed at the average price of $78,000. Thus, foreclosure news has made known the large number of choices for various home buyers, particularly the real estate investors.
Foreclosure news in California has also revealed a rise in the demand for houses that are being marketed at bargain prices. The average price for single-family homes in California is $204,000, while triplexes and duplexes are being sold at about $268,000. Meanwhile, condos in California are available at the average value of $195,000.
And in Ohio, foreclosure news has revealed that the prices of real estate properties have reached record low levels. The average value of single-family homes is $63,000, while condos can be purchased for approximately $77,000. On the other hand, duplexes and triplexes are available at $24,000.
On the other hand, foreclosure news is bad news for homeowners who are undergoing financial difficulties, particularly those who have lost their jobs. These people want to sell their houses because they can no longer afford the mortgage payments. The bad news is that they are now facing tough competition from the very low prices of foreclosed properties. Thus, more foreclosure news is to be expected because homeowners are unable to sell their properties and are being forced into foreclosure.