OfflineInman News is a great website to keep up on real estate trends and market conditons.
They recently worked with REALTYTRAC to showcase the
top areas to buy REO properties.
Many of these cities I have personally visited and can verify that there are great deals to be made!
http://www.inman.com/news/2013/01/31/realtytrac-names-20-best-places-buy...
Metro area
Inventory months' supply
Foreclosure sales (Percentage of all sales)
Average foreclosure discount (percent)
Foreclosure activity (annual percentage change)
Palm Bay-Melbourne-Titusville, Fla.
Rochester, N.Y.
Albany-Schenectady-Troy, N.Y.
New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa.
Lakeland, Fla.
Tampa-St. Petersburg-Clearwater, Fla.
Jacksonville, Fla.
Poughkeepsie-Newburgh-Middletown, N.Y.
Orlando-Kissimmee, Fla.
Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
El Paso, Texas
Miami-Fort Lauderdale-Pompano Beach, Fla.
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
Allentown-Bethlehem-Easton, Pa.-N.J.
Youngstown-Warren-Boardman, Ohio-Pa.
Syracuse, N.Y.
Cleveland-Elyria-Mentor, Ohio
New Haven-Milford, Conn.
Indianapolis-Carmel, Ind.
Source: RealtyTrac
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Seeing this list you have a couple of options:
1) Move your area that you are working.
2) Do research in your own area to see how you market compares.
3) Keep making money were you are at.
Some may see this list and feel a little daunted that their area or even their state is not listed. Some areas are better than others in certain aspects, yes. However, do your own research and find what your area(s) are doing.
Your Realtor can help you gain understanding of your market. One of the valuable tools you can use is a market analysis. This will give you sales of properties throughout your area. From this you can see common DOM, possible number of foreclosures, growth or decrease in sales and so on. This is very vauable.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
This data is useful for out of area investors that are looking for properties with high yields or buyers in the area that do not realize the opportunities that they are sitting on. As of December 2012, these states had the highest rates of foreclosure:
Florida – 1:338 homes in foreclosure
Nevada – 1:345 homes in foreclosure
California – 1:457 homes in foreclosure
Illinois – 1:461 homes in foreclosure
Ohio – 1:473 homes in foreclosure
http://www.bankforeclosuressale.com/wp/article-01224182.html
Hi Coach wonderful list and we know there are still deals out there, many thanks, Jim
jbischoff