As of now, foreclosed homes are selling at nearly a 27 percent discount compared to homes that are not distressed. However, some states are seeing a larger discounted rate than others.
In 10 states, the discounted rated was nearly 35 percent lower than homes not in distress. The largest discounts are seen in Illinois and Ohio with discounts near 41 percent. Close behind is Kentucky, which is at a 35 percent discounted rate.
States that saw an average of 35 percent include, Maryland, Wisconsin, Oklahoma, Louisiana, Pennsylvania, Delaware, and Tennessee. In Ohio, the foreclosures are seen in lower income areas while higher income neighborhoods are doing better, therefore making the discount higher. Also, some states may have less foreclosed home, so they do not pull down the non-distressed homes as much, making the discount larger.
If you or a loved one has been struggling to make payments on your home, contact the Florida foreclosure defense lawyers of Ryan J. Really, Attorney at Law, PLLC, by calling (239) 237-0675.