10 Best Places to Buy a Foreclosure in 2013

Daily Real Estate News | Thursday, January 31, 2013

If you’re looking for big foreclosure deals, Florida may offer the most, according to a a new study by RealtyTrac. Palm Bay, Fla., topped its list of the best places to buy a foreclosure in 2013. Foreclosures accounted for nearly 24 percent of all sales in Palm Bay last year, and buyers tended to pay 28 percent less for a home in foreclosure than other homes.
The following are the markets with the high number of foreclosures available and some of the largest price discounts for foreclosures, according to RealtyTrac.

• Palm Bay, Fla.

Average foreclosure discount: 28 percent

• Rochester, N.Y.

Average foreclosure discount: 26 percent

• Albany, N.Y.

Average foreclosure discount: 35 percent

• New York City

Average foreclosure discount: 40 percent

• Lakeland, Fla.

Average foreclosure discount: 15 percent

• Tampa, Fla.

Average foreclosure discount: 27 percent

• Jacksonville, Fla.

Average foreclosure discount: 32 percent

• Poughkeepsie, N.Y.

Average foreclosure discount: 28 percent

• Orlando, Fla.

Average foreclosure discount: 19 percent

• Chicago

Average foreclosure discount: 46 percent
Source: “Best Places to Buy Foreclosures,” CNNMoney (Jan. 31, 2013)