As the housing market continues to recover in 2014, finding a foreclosure deal is more important than ever to ensure you get the most bang for your buck and land a home with built-in equity. RealtyTrac has identified the top 20 U.S. cities with the deepest discounts still available on foreclosure homes, including several markets on both coasts, from the high end to the low end, and plenty in-between.
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To identify the top 20 cities for foreclosure discounts, RealtyTrac looked at sales data from the last six months ending in November 2013 at the city level. The analysis was limited to single family homes with three bedrooms. To calculate the average foreclosure discount, RealtyTrac compared the average price of a distressed home (property in foreclosure or bank owned) with the average price of a non-distressed home during the six-month period.
Below is a slideshow of foreclosure properties from the top 20 cities for foreclosure discounts. Below the slideshow are links to the properties on RealtyTrac.
- Fort Myers, Fla., pre-foreclosure for $160,000
- Columbus, Ohio, bank-owned for $52,000
- Cleveland, Ohio, bank-owned home for $38,900
- Pittsburgh, Penn., bank-owned home for $59,900
- Atlanta, Ga., bank-owned home for $111,500
- Canton, Ohio, bank-owned home for $47,000
- Cincinnati, Ohio, bank-owned home for $69,900
- Akron, Ohio, pre-foreclosure for $40,900
- Memphis, Tenn., bank-owned home for $47,500
- Vero Beach, Fla., bank-owned home for $130,000
- Richmond, Va., foreclosure auction home for $84,900
- Charlotte, N.C., bank-owned home for $104,900
- Seattle, Wash., bank-owned home for $249,900
- Minneapolis, Minn., bank-owned home for $130,000