The 10 Best States for Deals on Foreclosures
205,990 U.S. properties received foreclosures filings in May, down 4 percent from last year, according to RealtyTrac.
Foreclosure starts also increased for the first time in 27 months.
Many of these new starts are expected to end up as short or auction sales instead of being repossessed by banks.
And foreclosed and pre-foreclosure homes sell at sizable discounts to similar homes that aren’t foreclosed on and can provide a good buying opportunity.
We drew on RealtyTrac’s latest foreclosure report and picked the 10 states with the highest foreclosure savings rates in May.