Most of the cities with a large number of foreclosed homes for sale are located in California, Florida, or Nevada. As reported by the media, foreclosure rates remain the highest rates in the sunniest states. Inland California is a first-time home buyers' utopia, as Stockton, Merced, and Modesto have some of the highest numbers of foreclosed homes. Las Vegas, Nevada and its surrounding cities also have some of the highest numbers of foreclosed homes.
Balmy Florida has a large number of foreclosure homes too. Many snowbirds who purchased winter homes in better economic times now see they can't afford them. One in five homes confronted by bank foreclosure in 2007 were located in Florida, making it the state facing the highest foreclosure rate. According to data for 2008, Fort Lauderdale, Orlando, Miami, Sarasota, Tampa, Palm Beach, and Jacksonville were among the top foreclosed cities in the US.
If you're considering purchasing a house in one of these distressed areas,be sure you get a bargain. Depending on the type of foreclosure property, some deals involve risk and frustration. So be on guard and sensible as you supervise this transaction.
Most of the cities with a large number of foreclosed homes for sale are located in California, Florida, or Nevada. As reported by the media, foreclosure rates remain the highest rates in the sunniest states. Inland California is a first-time home buyers' utopia, as Stockton, Merced, and Modesto have some of the highest numbers of foreclosed homes. Las Vegas, Nevada and its surrounding cities also have some of the highest numbers of foreclosed homes.
Balmy Florida has a large number of foreclosure homes too. Many snowbirds who purchased winter homes in better economic times now see they can't afford them. One in five homes confronted by bank foreclosure in 2007 were located in Florida, making it the state facing the highest foreclosure rate. According to data for 2008, Fort Lauderdale, Orlando, Miami, Sarasota, Tampa, Palm Beach, and Jacksonville were among the top foreclosed cities in the US.
If you're considering purchasing a house in one of these distressed areas,be sure you get a bargain. Depending on the type of foreclosure property, some deals involve risk and frustration. So be on guard and sensible as you supervise this transaction.
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