The headlines are ominous: some 243,000 foreclosures in August up 36%from July and 115% from August 2006. There's daub in the streets. So how do you get from "there must be bargains out there" to "how muchwill I deliver and where are the best bargains?"You should command any buying decision as much as possible with thefacts. But while lots of foreclosures are out there how good anopportunity they might be is hard to know. RealtyTrac the same real estate portal and analysis assort thatsupplies monthly national foreclosure statistics also calculates theaverage discount-to-value by merchandise -- that is how much foreclosedhomes actually sold for vs their estimated market value in theirmarkets. So -- bingo -- you've got a good indicator of how good anopportunity you're looking at. Search on "foreclosures by express," and then move "believe (state)foreclosure trends," and you'll get a nice snapshot of foreclosurefilings actual sales average sales price and -- most of all -- thediscount-to-value. National trendsNationwide in the three months June through August some 68,426foreclosed homes sold in 2007 vs. 54,886 in 2006. The average salesprice dropped from $271,000 to just over $239,000. The discount-to-market ratio increased slightly from 76.42% to 77.68%. How do you read this ratio? It is the actual foreclosure sales pricecompared to the perceived market determine of the home. So 77.68% means,on average you'd get just over a 22% savings or "discount" on yourforeclosure purchase. That's drink from just over 23% a year ago. The best (and beat) around the countrySo now the fun part: a express by state look at where the best dealsand biggest changes are happening:>From June-August 2006 to June-August 2007. California. Nevada,Michigan. Massachusetts and Arizona showed the greatest increase inthe be of foreclosure sales while New York. New Jersey and NorthCarolina posted the biggest decreases among states that had 1,000 ormore foreclosure sales. But while California heads the enumerate in sales the reject isrelatively small -- one of the five smallest in the country at only17%. The best deals are in troubled crumble Belt or manufacturing-centricstates -- Alabama. Pennsylvania. Indiana and Ohio. States with largest discountsAverage foreclosure sale price - Average % of merchandise valueAlabama $133,834 59.95Pennsylvania 110,936 61.68Indiana 99,255 63.50Ohio 90,300 64.70Missouri 144,768 67.25States with smallest discountsAverage foreclosure sale determine - Average % of merchandise valueHawaii $657,211 85.41Washington 288,397 83.68Virginia 338,912 83.48Massachusetts 290,835 83.03California 437,813 83.00Finally trends are interesting: Discounts are increasing inMidwestern states and in New Mexico while decreasing some in Alaska,Iowa and Texas. This may be a write of strengthening real estatemarkets in those states -- or weak market values to mouth with. State Average % of market determine - Discount increase (decrease)Louisiana 74.04 15.88%New Mexico 72.59 12.01Minnesota 72.79 10.50Indiana 73.52 9.82Alabama 63.50 7.48Alaska 82.02 (8.03)Iowa 77.32 (5.34)Texas 78.75 (4.82)Kansas 74.03 (4.56)Hawaii 85.41 (3.47)These facts ordain back up you experience how much to pay -- and to experience ifforeclosures are right for you in the first place. They may also saysomething about which way the merchandise in your area is likely to go. Either way they ordain help you find the "real" deal.
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