Tag Archives: Are Foreclosures a Better Buy Than Short Sales?

Consumers may find buying a bank-owned home better than buying a short sale. Increasing REO inventory, deeper discounts, and shorter times to close can make foreclosures a more attractive option to home buyers, according to new data from RealtyTrac. The average sales price of a bank-owned home is at least 30 percent below the average sales price of a non-distressed home, according to RealtyTrac’s analysis. RealtyTrac identified some of the following best markets to buy bank-owned homes: Cleveland Average REO sales price: $57,782 Percent below average non-distressed sales price: 56 […]