subject: Foreclosure News: Low Cost Homes For Buyers [print this page] Foreclosure news is causing home buyers, particularly real estate investors, to realize that it is the proper time to buy real estate properties in view of the continuing drop in home values. Despite the slow down in the foreclosure market, there are still many properties being made available in the market and home values are continuing their down trend. 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, many investors in real properties have expressed their interest in foreclosed properties and are even competing against each other in acquiring certain properties.
Foreclosure news has revealed the availability of single-family homes in Ohio, Texas, Florida and Michigan at relatively low prices. There have also been cases where the asking price for certain properties is only one-half of their original price. 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. In Michigan, single-family homes are being offered at the average value of $61,000, condos are being marketed at the average price of $61,000, and duplexes and triplexes are available at the average price of $14,000. Thus, foreclosure news has made known the large number of choices for various home buyers, particularly the real estate investors.
In California, foreclosure news has also shown an increased demand for homes being sold at very low prices. The average value of single-family homes in this state is $204,000, while duplexes and triplexes are available for approximately $268,000. Meanwhile, California condos are being marketed at the average price of $195,000.
And in Ohio, foreclosure news has revealed that the prices of real estate properties have reached record low levels. Single-family homes can be acquired at an average price of $63,000, while condos can be bought for about $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. Unfortunately, the bargain prices of the foreclosed homes are too much competition for them. Thus, more foreclosure news is to be expected because homeowners are unable to sell their properties and are being forced into foreclosure.
by: Michael Bartonolis
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